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Environment & Energy
In reply to the discussion: America's 2 New Nukes Are on the Brink of Death [View all]kristopher
(29,798 posts)29. Exelon CEO: (nuclear) "is on the backs of the ratepayers, not the backs of the shareholders"
State Help Needed for New Nuclear Units, Exelon Chief Says
By Brian Wingfield - Apr 11, 2012 4:58 PM ET
U.S. utilities will need government help to build nuclear reactors as other forms of electric power become less expensive, a top executive of Exelon Corp. (EXC), the nations largest commercial producer of atomic energy, said.
State support may include letting companies recover costs from customers during construction, providing loan guarantees or agreeing to buy power from the plant, Mayo Shattuck III, executive chairman of Chicago-based Exelon, said today at a conference in Washington.
Building reactors may require the sovereign support of that state, which really means its on the backs of the ratepayers, not the backs of the shareholders, Shattuck said at an event hosted by the Center for Strategic and International Studies.
The Nuclear Regulatory Commission on March 30 awarded Scana Corp. (SCG) a permit to build two reactors at a plant near Columbia, South Carolina, and on Feb. 9 approved Southern Co. (SO)s plan for two units at its Vogtle plant near Augusta, Georgia. Southern expects its project to cost $14 billion. Scana will cover 55 percent of the estimated $10.2 billion for the South Carolina reactors. The plants, being financed partly by customers, may be among the last in the U.S. this decade...
http://www.bloomberg.com/news/2012-04-11/state-help-needed-for-nuclear-units-exelon-chief-says-correct-.html
By Brian Wingfield - Apr 11, 2012 4:58 PM ET
U.S. utilities will need government help to build nuclear reactors as other forms of electric power become less expensive, a top executive of Exelon Corp. (EXC), the nations largest commercial producer of atomic energy, said.
State support may include letting companies recover costs from customers during construction, providing loan guarantees or agreeing to buy power from the plant, Mayo Shattuck III, executive chairman of Chicago-based Exelon, said today at a conference in Washington.
Building reactors may require the sovereign support of that state, which really means its on the backs of the ratepayers, not the backs of the shareholders, Shattuck said at an event hosted by the Center for Strategic and International Studies.
The Nuclear Regulatory Commission on March 30 awarded Scana Corp. (SCG) a permit to build two reactors at a plant near Columbia, South Carolina, and on Feb. 9 approved Southern Co. (SO)s plan for two units at its Vogtle plant near Augusta, Georgia. Southern expects its project to cost $14 billion. Scana will cover 55 percent of the estimated $10.2 billion for the South Carolina reactors. The plants, being financed partly by customers, may be among the last in the U.S. this decade...
http://www.bloomberg.com/news/2012-04-11/state-help-needed-for-nuclear-units-exelon-chief-says-correct-.html
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If taxpayers aren't forced to cover the risk, then a new nuke is nowhere near feasible.
qb
Apr 2012
#2
Good now that the most expensive form of energy is off the table, can we get on with real green
Vincardog
Apr 2012
#4
Vogtle Nuclear Construction Faces “Additional Delay” Based on Miscalculations in Foundation Concrete
kristopher
Apr 2012
#28
Exelon CEO: (nuclear) "is on the backs of the ratepayers, not the backs of the shareholders"
kristopher
Apr 2012
#29
The spreading global economic crisis is going to put a major crimp in nuclear plans in many places.
GliderGuider
Apr 2012
#45