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Judging from its recent actions, the nuclear industry has given up on the pretense that the technology is cost competitive with presently or soon-to-be available alternatives, whether or not climate change legislation is enacted. Recognizing that capital markets will not support the construction of new reactors, nuclear industry lobbyists at the federal and state legislatures have launched a full court press to get loans from taxpayers (in the form of federal loan guarantees) and ratepayers (through construction work in progress, or CWIP) to fund these projects. The same factors that have led Wall Street to refuse to finance reactors and to lower the ratings of utilities that are trying to build them are the very reasons that taxpayers and ratepayers should not be forced to foot the bill for new nuclear reactors. Loan guarantees and CWIP force taxpayers and ratepayers to bear the marketplace, execution, policy, technology and financial risks that capital markets will not.

Judging from its recent actions, the nuclear industry has given up on the pretense that the technology is cost competitive with presently or soon-to-be available alternatives, whether or not climate change legislation is enacted. Recognizing that capital markets will not support the construction of new reactors, nuclear industry lobbyists at the federal and state legislatures have launched a full court press to get loans from taxpayers (in the form of federal loan guarantees) and ratepayers (through construction work in progress, or CWIP) to fund these projects. The same factors that have led Wall Street to refuse to finance reactors and to lower the ratings of utilities that are trying to build them are the very reasons that taxpayers and ratepayers should not be forced to foot the bill for new nuclear reactors. Loan guarantees and CWIP force taxpayers and ratepayers to bear the marketplace, execution, policy, technology and financial risks that capital markets will not.

Ratepayers will pay most of bill for nuclear plant upgrades FREDERICTON - If they weren't stuck with the bill, ratepayers might be able to sympathize with surprise costs that face NB Power's refurbishment project at Point Lepreau. The refurbishment project is currently running three to four months behind schedule, at a cost of about $20 million per month to ratepayers. Each extra day will cost an extra $1 million in replacement fuel, and CEO David Hay says NB Power is on track to pay between $70 million to $90 million in unexpected replacement fuel costs to replace power normally generated by the reactor during the period it is down.

Sunday's Sun editorial claims the Constellation Energy Group-Electricite de France deal will help ratepayers, in part because EDF might construct a new nuclear reactor that will increase Maryland's supply of electricity ("PSC's power play," Sept. 20). The cost of a new nuclear reactor is in the billions, and the electricity generated by the reactor may not be available for a decade. The problem is that ratepayers are suffering high energy costs now. The best and most immediate solution to our high energy costs is investment in energy efficiency. Instead of investing billions into nuclear, we should invest heavily in weatherizing and retrofitting our homes and businesses. By doing so, we will decrease the amount of electricity needed to turn on our lights and keep us warm in the winter. In fact, studies demonstrate that we can reduce Maryland's electricity use by 15 percent by the year 2015 through basic energy efficiency projects. We owe it to ratepayers to start lowering utility rates today, not in a decade. Fielding Huseth, Baltimore

Toshiba Inc. has shaved about $1.4 billion off its price to build two nuclear reactors, but it's unlikely to ever reach an amount within San Antonio's price range, NRG Energy executives said Thursday. "We would expect ... the price estimate that Toshiba will come back with may be outside the affordability range for their ratepayers," Steve Winn, CEO of the NRG-owned Nuclear Innovation North America, said at a financial analysts' meeting in Houston. At issue is the cost San Antonio's CPS Energy and NRG Energy are willing to pay contractor Toshiba to build two nuclear reactors outside Bay City. CPS Energy has promised ratepayers and the City Council that it will pursue the deal as long as it can limit power bill increases to 5 percent every other year for the next decade. This can be done if the total project, with financing, will cost about $13 billion, utility officials say. To hit that amount, Toshiba's costs need to come in about $8 billion. But the Japanese contractor, NRG confirmed, estimated its price at $12.3 billion in October.

Toshiba Inc. has shaved about $1.4 billion off its price to build two nuclear reactors, but it's unlikely to ever reach an amount within San Antonio's price range, NRG Energy executives said Thursday. "We would expect ... the price estimate that Toshiba will come back with may be outside the affordability range for their ratepayers," Steve Winn, CEO of the NRG-owned Nuclear Innovation North America, said at a financial analysts' meeting in Houston. At issue is the cost San Antonio's CPS Energy and NRG Energy are willing to pay contractor Toshiba to build two nuclear reactors outside Bay City. CPS Energy has promised ratepayers and the City Council that it will pursue the deal as long as it can limit power bill increases to 5 percent every other year for the next decade. This can be done if the total project, with financing, will cost about $13 billion, utility officials say. To hit that amount, Toshiba's costs need to come in about $8 billion. But the Japanese contractor, NRG confirmed, estimated its price at $12.3 billion in October.

We'll soon see how much Missourians want a new nuclear power plant. A Missouri utility wants to build a second nuclear plant in Callaway County - if ratepayers will pony up before the plant opens. But that is against the law in Missouri, where utilities are prohibited from charging ratepayers for plants that have not been built.

Since the administration has decided to abandon the Yucca Mountain project in Nevada, Congress is obligated to come up with a plan for interim storage, and in so doing bolster nuclear power and, incidentally, do something that is good for the country. For the sake of electricity ratepayers across the country Congress must confront the issue of nuclear waste disposal. Money collected from ratepayers to solve the problem, but never spent to actually do so, should be returned.

"A typical SLO County Board of Supervisors meeting can feel like a rehearsed stage show, in which there isn't so much digging for answers as there is rehashing what's already been talked about outside the public venue. But on March 9, when the topic turned to the Diablo Canyon nuclear power plant, question dodging and iffy responses didn't cut it. "I do realize that our view may be inconvenient for PG&E," Supervisor Bruce Gibson said. On a 3-2 vote, the board decided to ask the Nuclear Regulatory Commission to delay the re-licensing of Diablo Canyon until 3-D seismic studies of multiple offshore fault lines are complete. (Supervisors Frank Mecham and Katcho Achadjian voted no.) PG&E representatives expect a seismic report to be completed by December. But PG&E reps protested that delaying the re-licensing process-the company applied in November to extend the license 20 years for each reactor-would cost ratepayers in the long run. The company applied with the Public Utilities Commission to spend $85 million in ratepayer funds toward the studies."

Bailout estimates for failed projects could range from hundreds of billions to more than a trillion The nuclear power industry is pressuring Congress to dramatically expand federal loan guarantees for building new plants, which would put taxpayers and ratepayers at significant financial risk, according to a report released today by the Union of Concerned Scientists (UCS). Congress already has authorized $60 billion for loan guarantees in which the federal government would shield utilities and private investment firms from the risk of default on loans for building new electricity generation plants. The Department of Energy (DOE) has allocated $18.5 billion of that money for new nuclear plants over the next few years. Given the average projected cost of building one reactor is currently $9 billion, the industry is clamoring for considerably more. To date, the DOE has received $122 billion in applications for loan guarantees for new nuclear power plants.

The nuclear power industry is pressuring Congress to dramatically expand federal loan guarantees for building new plants, which would put taxpayers and ratepayers at significant financial risk, according to a report released today by the Union of Concerned Scientists (UCS). view counter Congress already has authorized $60 billion for loan guarantees in which the federal government would shield utilities and private investment firms from the risk of default on loans for building new electricity generation plants. The Department of Energy (DOE) has allocated $18.5 billion of that money for new nuclear plants over the next few years. Given the average projected cost of building one reactor is currently $9 billion, the industry is clamoring for considerably more. To date, the DOE has received $122 billion in applications for loan guarantees for new nuclear power plants.

Twenty-one years after TVA halted work on Alabama's biggest construction project, Jackson County officials say they want the federal utility to restart the nuclear plant work to help power the local economy and the Tennessee Valley electricity grid. Ron Bailey, 61 and a former mayor of Scottsboro, said community leaders continue to support plans for a new reactor at Bellefonte - either by finishing the old or building new. "As a taxpayer and ratepayer, I can't help think what a waste of money it is to see that plant sitting there idle," Mr. Bailey said of the unfinished $4 billion complex in Hollywood, Ala. "But as an elected official and Chamber of Commerce supporter, I also see the plant as a tremendous opportunity for our future for both jobs and energy."

Twenty-one years after TVA halted work on Alabama's biggest construction project, Jackson County officials say they want the federal utility to restart the nuclear plant work to help power the local economy and the Tennessee Valley electricity grid. Ron Bailey, 61 and a former mayor of Scottsboro, said community leaders continue to support plans for a new reactor at Bellefonte - either by finishing the old or building new. "As a taxpayer and ratepayer, I can't help think what a waste of money it is to see that plant sitting there idle," Mr. Bailey said of the unfinished $4 billion complex in Hollywood, Ala. "But as an elected official and Chamber of Commerce supporter, I also see the plant as a tremendous opportunity for our future for both jobs and energy."

There are many reasons why it was a terrible idea for the federal government to designate Yucca Mountain, 90 miles northwest of Las Vegas, as a potential dumping ground for the nation's high-level nuclear waste. We can now add to that long list a report released Wednesday by the Government Accountability Office showing that it is far less expensive to store the radioactive waste where it is generated than to bury it in Nevada. The GAO, the investigative arm of Congress, estimated it would cost as little as $10 billion to store on site the 70,000 metric tons of waste that has been generated in this country, versus a minimum $27 billion at Yucca Mountain. When factoring in the possibility of even more waste, the difference in cost widens. The findings, prepared for Senate Majority Leader Harry Reid, D-Nev., Sen. John Ensign, R-Nev., and Senate Environmental and Public Works Committee Chairwoman Barbara Boxer, D-Calif., are important because taxpayers would pay 20 percent of the costs of building a permanent dump. Nuclear utility ratepayers would be responsible for the balance.

There are many reasons why it was a terrible idea for the federal government to designate Yucca Mountain, 90 miles northwest of Las Vegas, as a potential dumping ground for the nation's high-level nuclear waste. We can now add to that long list a report released Wednesday by the Government Accountability Office showing that it is far less expensive to store the radioactive waste where it is generated than to bury it in Nevada. The GAO, the investigative arm of Congress, estimated it would cost as little as $10 billion to store on site the 70,000 metric tons of waste that has been generated in this country, versus a minimum $27 billion at Yucca Mountain. When factoring in the possibility of even more waste, the difference in cost widens. The findings, prepared for Senate Majority Leader Harry Reid, D-Nev., Sen. John Ensign, R-Nev., and Senate Environmental and Public Works Committee Chairwoman Barbara Boxer, D-Calif., are important because taxpayers would pay 20 percent of the costs of building a permanent dump. Nuclear utility ratepayers would be responsible for the balance.

"In January of next year, Georgia Power customers will begin to pay for new nuclear reactors. This is the second part of a series investigating the financial and environmental implications of the Plant Vogtle expansion. The first part of the series discussed how federal tax dollars were being used to subsidize the development of the nuclear industry. Beginning in January 2011, most Georgia Power customers will see an increase in their electric bill. It will start small, about $1.30 per month. Over the next several years it will increase, until 2017, when residential and small business ratepayers are coughing up an additional $9.10 or more per month."

On October 29, ELI will hold the principal policy event of its 40th anniversary year, the ELI-Miriam Hamilton Keare Policy Forum. The topic this year will explore whether expanded use of nuclear power and coal is inevitable in our climate-constrained future, and if so, how best to manage them. This issue has gained greater salience in recent years, as advances in technology promise a new generation of safer nuclear reactors and the possibility of sequestering coal emissions. In 2007, Sir Patrick Moore, the founder of Greenpeace, proclaimed that nuclear power is essential to combating climate change. Producers of coal maintain that it is impossible to ignore the most-abundant fossil fuel -- and that it can compete with lower-carbon energy sources. The Hon. Jon Wellinghoff, Chairman of the Federal Energy Regulatory Commission, will be among the panelists participating in the Forum. Representing an entirely different viewpoint, Wellinghoff once told reporters, "we may not need any, ever," referring to new coal and nuclear power plants. State regulators, meanwhile, are responsible to ratepayers and pollution control mandates. Environmental organizations have mostly opposed expanded use of both energy sources, but that opinion is by no means monolithic.

On October 29, ELI will hold the principal policy event of its 40th anniversary year, the ELI-Miriam Hamilton Keare Policy Forum. The topic this year will explore whether expanded use of nuclear power and coal is inevitable in our climate-constrained future, and if so, how best to manage them. This issue has gained greater salience in recent years, as advances in technology promise a new generation of safer nuclear reactors and the possibility of sequestering coal emissions. In 2007, Sir Patrick Moore, the founder of Greenpeace, proclaimed that nuclear power is essential to combating climate change. Producers of coal maintain that it is impossible to ignore the most-abundant fossil fuel -- and that it can compete with lower-carbon energy sources. The Hon. Jon Wellinghoff, Chairman of the Federal Energy Regulatory Commission, will be among the panelists participating in the Forum. Representing an entirely different viewpoint, Wellinghoff once told reporters, "we may not need any, ever," referring to new coal and nuclear power plants. State regulators, meanwhile, are responsible to ratepayers and pollution control mandates. Environmental organizations have mostly opposed expanded use of both energy sources, but that opinion is by no means monolithic.

The Florida Public Service Commission on Friday agreed to let the state's two largest utilities collect more than $270 million from ratepayers next year as a down payment to develop new nuclear plants expected to come online in the next decade. The commission will allow FPL Group's (FPL.N) Florida Power & Light Co to recover nearly $62.7 million in costs related to construction of two proposed nuclear reactors, Turkey Point Units 6 and 7, and work to increase output at its existing nuclear units, Turkey Point Units 3 and 4 and St. Lucie Units 1 and 2, the commission said in a release. FPL is the state's largest utility with 4.5 million customers.

The Florida Public Service Commission on Friday agreed to let the state's two largest utilities collect more than $270 million from ratepayers next year as a down payment to develop new nuclear plants expected to come online in the next decade. The commission will allow FPL Group's (FPL.N) Florida Power & Light Co to recover nearly $62.7 million in costs related to construction of two proposed nuclear reactors, Turkey Point Units 6 and 7, and work to increase output at its existing nuclear units, Turkey Point Units 3 and 4 and St. Lucie Units 1 and 2, the commission said in a release. FPL is the state's largest utility with 4.5 million customers.

Late changes could have impact on BGE, ratepayers BALTIMORE - Consumer advocates said Wednesday that newly proposed changes to the Constellation Energy deal with a French nuclear power company could bring less money into the state than originally expected and potentially impact how much Baltimore Gas and Electric Co. spends on capital improvements. BGE is a subsidiary of Constellation Energy, which provides power to homes in Central Maryland, including 88,600 natural gas and 221,500 electricity customers in Anne Arundel County.

Late changes could have impact on BGE, ratepayers BALTIMORE - Consumer advocates said Wednesday that newly proposed changes to the Constellation Energy deal with a French nuclear power company could bring less money into the state than originally expected and potentially impact how much Baltimore Gas and Electric Co. spends on capital improvements. BGE is a subsidiary of Constellation Energy, which provides power to homes in Central Maryland, including 88,600 natural gas and 221,500 electricity customers in Anne Arundel County.

Sacramento's Rancho Seco nuclear power plant has been formally decommissioned by the federal government, the first action of its kind in response to a public vote. The 20-year decommissioning process cost Sacramento Municipal Utility District ratepayers $500 million. District voters decided in June 1989 that such a costly endeavor was justified to eliminate the risks posed by nuclear power. The vote followed a long series of accidents and costly unplanned shutdowns at Rancho Seco, which began operating in 1975.

Sacramento's Rancho Seco nuclear power plant has been formally decommissioned by the federal government, the first action of its kind in response to a public vote. The 20-year decommissioning process cost Sacramento Municipal Utility District ratepayers $500 million. District voters decided in June 1989 that such a costly endeavor was justified to eliminate the risks posed by nuclear power. The vote followed a long series of accidents and costly unplanned shutdowns at Rancho Seco, which began operating in 1975.

The Maryland Public Service Commission has approved EDF's 50% purchase of Constellation Energy that could lead to the construction of an EPR at Calvert Cliffs, provided the two utilities meet several conditions. First, they must hand residential ratepayers a $110 million rebate before March 2010. Second, the utilities must invest $250 million cash in Baltimore Gas & Electricity, a wholly-owned subsidiary of Constellation Energy, before July 2010. There were several other additional financial stipulations. In September, the US Nuclear Regulatory Commission approved the investment structure and license transfer related to EDF's investment in Constellation Energy Nuclear Group. The New York State Public Service Commission approved the deal in April.

The Maryland Public Service Commission has approved EDF's 50% purchase of Constellation Energy that could lead to the construction of an EPR at Calvert Cliffs, provided the two utilities meet several conditions. First, they must hand residential ratepayers a $110 million rebate before March 2010. Second, the utilities must invest $250 million cash in Baltimore Gas & Electricity, a wholly-owned subsidiary of Constellation Energy, before July 2010. There were several other additional financial stipulations. In September, the US Nuclear Regulatory Commission approved the investment structure and license transfer related to EDF's investment in Constellation Energy Nuclear Group. The New York State Public Service Commission approved the deal in April.

As a Thursday vote on two new nuclear reactors looms, cities around the state that purchase power from San Antonio's municipal utility, City Public Services (CPS), are balking at the prospect of buying pricey nuclear power from the reactors. Three problems exist with the planned expansion at the South Texas Nuclear Project (STP) facility. First, nuclear power creates dangerous radioactive waste that no one has figured out how to dispose of safely. Second, nuclear power is expensive - the nuclear industry requires taxpayer subsidies to prop it up. Third, no one knows for certain just how much the construction of the two reactors will cost ratepayers.

As a Thursday vote on two new nuclear reactors looms, cities around the state that purchase power from San Antonio's municipal utility, City Public Services (CPS), are balking at the prospect of buying pricey nuclear power from the reactors. Three problems exist with the planned expansion at the South Texas Nuclear Project (STP) facility. First, nuclear power creates dangerous radioactive waste that no one has figured out how to dispose of safely. Second, nuclear power is expensive - the nuclear industry requires taxpayer subsidies to prop it up. Third, no one knows for certain just how much the construction of the two reactors will cost ratepayers.

Federal regulators gave two green lights to Entergy Nuclear Thursday, saying recent changes Entergy made to the proposed spin-off of its five nuclear reactors, including Vermont Yankee, did not warrant additional review. The Nuclear Regulatory Commission also gave Entergy Nuclear another month next year to complete an important test of its reactor containment system in spring, a test that has already been postponed for five years. In the case of the spin-off, which would create a company called Enexus, changes Entergy made to the deal recently won the support of the Vermont Department of Public Service, which acts as the ratepayer advocate. However, the Vermont Public Service Board still hasn't approved the spin-off. Additionally, New York State regulators also have yet to sign off on the deal.

Federal regulators gave two green lights to Entergy Nuclear Thursday, saying recent changes Entergy made to the proposed spin-off of its five nuclear reactors, including Vermont Yankee, did not warrant additional review. The Nuclear Regulatory Commission also gave Entergy Nuclear another month next year to complete an important test of its reactor containment system in spring, a test that has already been postponed for five years. In the case of the spin-off, which would create a company called Enexus, changes Entergy made to the deal recently won the support of the Vermont Department of Public Service, which acts as the ratepayer advocate. However, the Vermont Public Service Board still hasn't approved the spin-off. Additionally, New York State regulators also have yet to sign off on the deal.

The US state of Maryland on Friday approved a plan for France' EDF Group to take a stake in Constellation Energy Group, clearing the final hurdle for a new nuclear power plant in the state. US regulators earlier this month had green-lighted the joint venture plan for the French state-controlled company to acquire nearly half of Constellation's nuclear assets. The companies say the nuclear joint venture is critical to the proposed construction of a new nuclear generation plant at Constellation's Calvert Cliffs Nuclear Power Plant, which they say would represent one of the largest industrial development projects in the East Coast state. The Maryland government announced Friday conditional approval of the joint venture, depending on a one-time rate credit of 110.5 million dollars to residential ratepayers of Constellation's Baltimore Gas and Electric Company (BGE) subsidiary.

The US state of Maryland on Friday approved a plan for France' EDF Group to take a stake in Constellation Energy Group, clearing the final hurdle for a new nuclear power plant in the state. US regulators earlier this month had green-lighted the joint venture plan for the French state-controlled company to acquire nearly half of Constellation's nuclear assets. The companies say the nuclear joint venture is critical to the proposed construction of a new nuclear generation plant at Constellation's Calvert Cliffs Nuclear Power Plant, which they say would represent one of the largest industrial development projects in the East Coast state. The Maryland government announced Friday conditional approval of the joint venture, depending on a one-time rate credit of 110.5 million dollars to residential ratepayers of Constellation's Baltimore Gas and Electric Company (BGE) subsidiary.