Albert Lea Tribune | Nuclear power plants are not the way to go - 0 views
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Energy Net on 16 Dec 08The post-World War II Atoms for Peace program failed to convince the electric utilities to invest in nuclear power. Insurance companies would only cover $250 million of potential damages from an accident. The government brought the utilities cooperation with the Price-Anderson Act requiring each atomic plant to buy the maximum commercial insurance and provided a second level of coverage from a pool funded by a potential assessment of up to $10 million against each plant. Under the protection of this act about 109 nuclear plants were built, and licensed for 30 years. The act limited the industries liability to $10 billion with the public to absorb anything over that amount.