The hidden costs of nuclear power

[jpak]

http://www.plentymag.com/features/2008/05/the_price_of_power_nuclear_pow.php

As one of Florida’s largest utilities prepared to unveil details about its nuclear plans last March, its executives showed a noticeable wariness about one detail in particular: the price.

At Progress Energy Florida’s new St. Petersburg headquarters, the top brass carefully husbanded their latest estimates. As the date of their public filing neared, the utility’s executives arranged meetings with newspaper editors throughout its territory. Bill Johnson, chairman, president and CEO of the Florida utility’s parent company, flew down from North Carolina for a meeting with Governor Charlie Crist.

Progress Energy’s extraordinary care acknowledged that the “nuclear renaissance” perched delicately on the public’s goodwill. An erosion of public support could shake the political support that new nuclear has lately enjoyed. Florida wouldn’t be the only casualty; 21 other new nuclear projects have been announced throughout the U.S.

When the price was unveiled, the reason behind Progress Energy’s caution became clear: the price for two reactors topped $14 billion – more than double the original estimates proffered by Progress Energy and other utilities throughout the country.

<more>

[Submariner]

1. I worked at a nuke plant construction site that was priced

out to cost $350 million. That cost estimate was developed during the design phase in 1977. In those days the saying was that nuclear power "was too cheap to meter."

We started construction in 1978 just before the 3 Mile Island accident. After implementation of new NRC regulations, imposed due to the accident, the plant finally went online in 1985 at a cost of $4.2 billion. About 12 times the original cost estimate.

In the story you cite, I bet Floridians would not like to see that cost tagged onto their monthly electric bill.

[DCKit]

2. Yet they will still cost twice that...

and under the current energy bill, the taxpayers will probably end up picking up the tab. Nice to see they're building at least some of the actual and expected costs into the estimates.

Back in the days before CAD (computer aided design), my stepfather, a model builder, used to come home tearing his hair out at the stupid mistakes the various contractors (lots and lots of contractors on a Nnewcuelur power plant) were making every single day. At one point, the plans had plumbing running through the CORE of the reactor. Granted, they were all smoking weed on the job, but DAMN!

Edit to add:

BTW, when it finally became too much to bear, the plant was "converted" to a conventional, natural gas plant at an estimated savings of $400 million.