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Moody's Investor Service on Friday downgraded its ratings for USEC Inc., citing expectations of weak credit metrics over the next several years, increased competition and liquidity risks. The company, which is based in Bethesda, Md., is a global supplier of low enriched uranium for nuclear power plants. The ratings agency lowered the company's corporate family and probability of default ratings to Caa1 from B3. It also cut the rating for its 3 percent convertible senior notes to Caa2 from Caa1. All new ratings are considered junk grade. In addition to concerns over credit, competition and liquidity, Moody's said the ratings are also constrained by USEC's dependence on a single production facility, regulatory risk and the potential for higher costs of electric power, which accounts for up to 75 percent of the company's costs to enrich uranium. Shares of the company fell 4 cents to $4.02 in afternoon trading.

Moody's Investor Service on Friday downgraded its ratings for USEC Inc., citing expectations of weak credit metrics over the next several years, increased competition and liquidity risks. The company, which is based in Bethesda, Md., is a global supplier of low enriched uranium for nuclear power plants. The ratings agency lowered the company's corporate family and probability of default ratings to Caa1 from B3. It also cut the rating for its 3 percent convertible senior notes to Caa2 from Caa1. All new ratings are considered junk grade. In addition to concerns over credit, competition and liquidity, Moody's said the ratings are also constrained by USEC's dependence on a single production facility, regulatory risk and the potential for higher costs of electric power, which accounts for up to 75 percent of the company's costs to enrich uranium. Shares of the company fell 4 cents to $4.02 in afternoon trading.

The cancer rate among people under the age of 25 in Monroe County rose at more than three times the rate of the rest of the state between 1996 and 2005, according to a report generated by the Michigan Department of Community Health (MDCH). Between 1996 and 2000, the average rate of cancer cases for this group was 18.5 cases per 100,000 people; between 2001 and 2005, the rate grew to 24.3 per 100,000. Between 1996 and 2000 the statewide rate of cancer for this group was 20.2 per 100,000; between 2001 and 2005, the rate was 21.9. Monroe is home to DTE Energy's Fermi II nuclear power plant, which became fully operational in 1988. While industry and government experts dismiss the possibility that local cancer rates are related to the nuclear plant, critics of the plant and nuclear power say more study is needed.

"Pennsylvania has the highest thyroid cancer rate of any U.S. state, and rates are especially high in the eastern part of the state, which has a large concentration of nuclear reactors, according to a new study released today. From 2001-2005, the Pennsylvania thyroid cancer incidence rate was 44% above the U.S., according to data from the U.S. Centers for Disease Control and Prevention. Of the 18 U.S. counties with the highest rates, six are located in eastern Pennsylvania. There are 9 nuclear reactors in this area, the largest concentration in the U.S. "Epidemic levels of thyroid cancer in eastern Pennsylvania suggest that radiation emitted by reactors may be driving up rates among local residents," says Joseph Mangano MPH MBA "because exposure to radiation is the only known cause of the disease." Mangano is Executive Director of the Radiation and Public Health Project research group, and author of the article published in the current International Journal of Health Services. The research found that in the mid-1980s, Pennsylvania's thyroid cancer rate was 40% below the U.S. "Something occurred to change Pennsylvania's rate from low to high," says Mangano "and one of these possible factors is radiation from reactors.""

Florida Power & Light Co. officials defended a $1.3 billion rate increase despite opponents' objections that it will pad the pockets of high-paid executives and reap bigger profits, even as Gov. Charlie Crist rebuked the hike as "excessive." FPL CEO Armando Olivera insisted that the utility needs to raise customers' rates to make its operations more fuel-efficient and that the hike would keep customers' electric bills from climbing even more in the long run. "We're trying to come forward with what we think is a balanced approach. I think that the fact that our rates are the lowest in the state is a reflection of what we are," said Olivera, who spent all day on the witness stand for the Public Service Commission proceedings. It was the second day of the rate hearings scheduled to last two weeks. Juno Beach-based FPL, which serves 4.5 million customer accounts from northeast Florida to Miami, is asking for its first base rate increase since 1985.

"Obama's provision of $54 billion in loan guarantees to the nuclear industry will cost Americans much more than the probable 50% default rate that the Congressional Budget Office anticipates. While the federal government will guarantee the profits of investors, rate payers will suffer the inevitable rate hikes. Higher electric rates will appear, not when plants begin operating, but years, if not decades, before they come on line. Several states allow customers to be billed for expensive new nuclear plants in advance. Naturally, these are the states where the initial, new, entirely untested, plants are proposed for construction. This arrangement further reduces investor exposure to cost over-runs or rising interest rates that are imposed due to the downgrading of credit ratings for facilities with deteriorating economic prospects."

"Thyroid cancer rates in Pennsylvania soared in recent decades and radiation from nuclear power plants may be the cause, a study released Thursday said. Joseph Mangano, who authored the study which appeared in the International Journal of Health Services and is executive director for the Radiation and Public Health Project, called the growth in the number of cases "an epidemic." Pennsylvania's incidence of thyroid cancer in the mid-1980s was 40 percent below the national rate, and now the rate is 44 percent above the national rate, he said. "Something occurred to change Pennsylvania's rate from low to high, and one of these possible factors is radiation from reactors," Mangano said. Some of the highest thyroid cancer rates occur in eastern Pennsylvania, which has the nation's largest concentration of nuclear reactors, including the Susquehanna Steam Electric Station in Salem Township, he said."

Building new nuclear plants could prove hazardous the credit ratings of power companies. Moody's Investors Services warns in its new report -"New Nuclear Generation: Ratings Pressure Increasing" - that it may view nuclear construction plans as a negative. Moody's worries that investment in new nuclear is so costly that it amounts to a "bet the farm" strategy. It increases business risk and operating risk. And the possibility that utilities might be forced to abandon some projects after construction starts, while less likely now than 20 years ago, cannot be dismissed. Downgrades possible The report notes that in the last round of construction - most of which occurred in the 1970s and 80s - proved troublesome for credit ratings.

State regulators and consumer groups grilled Florida Power & Light officials in the past two weeks about the utility's profits, costs it shares with its unregulated affiliates, executive bonuses and corporate jets, among other issues that could affect FPL ratepayers over the next few years. And it's not over. The Florida Public Service Commission extended hearings on FPL's proposed $1.3 billion annual base rate increase, with meeetings scheduled for Saturday and Sept. 16. The commission plans to vote Oct. 28 and Nov. 13. If the rate increase is approved, monthly electric bills could rise by as much as $12.40 per month for a typical household served by FPL. But FPL officials project that a decrease in fuel costs will reduce the typical bill by $7 next year even if the base rate increase is approved.

The Centre on Friday decided to revise the royalty rates to be paid to states for streamlining the mining of uranium, a strategic and scarce mineral. The states would now be paid royalty on uranium mining on an ad valorem basis, equivalent to two per cent of compensation received by Uranium Corporation of India Ltd (UCIL). The decision to revise the royalty rates for uranium was taken by the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Dr Manmohan Singh. While the government is working on a proposal for revising royalty rates for all minerals, a considered decision has been taken to enhance the royalty rates of uranium immediately, keeping the fact in mind that uranium is a strategic mineral whose mining is restricted to the public sector, Minister for Science and Technology Dr Kapil Sibal said.

The company submitted a proposal Wednesday to the Florida Public Service Commission to increase base power rates by $1 billion in 2010 and $1.25 billion in 2011. Florida Power & Light proposes increasing electric rates by at least $1 billion a year starting next year. The company submitted a proposal Wednesday to the Florida Public Service Commission to increase base power rates by $1 billion in 2010 and $1.25 billion in 2011. FPL, the state's largest utility with 4.5 million customers, said the increase would allow it to earn a "fair" profit, while making its infrastructure stronger, more efficient and less likely to emit greenhouse-gas emissions.

Opposition to Progress Energy's proposed rate increases continued bubbling up this week amid public hearings across the state. Among the latest opponents: Mark Cooper, an economist and author on the financing of nuclear power reactors. Cooper told the Florida Public Service Commission that it is "not prudent" to proceed with plans for building new Progress Energy nuclear reactors in Levy County and a similar Florida Power & Light project near Miami. Cooper estimated it would cost $1.9 trillion to $4.1 trillion more over the life of 100 new nuclear reactors than it would to generate the same electricity from a combination of more energy efficiency and renewables. Separately, the business-affiliated group Associated Industries of Florida intervened for the first time on a rate case, backing Florida Power and Light's base rate increase. Associated Industries did not take a stance "at this time" on Progress Energy's filings. Progress is seeking to raise its base rates 30 percent and wants to add roughly $3 to the average monthly bill to help pay for its planned nuclear plant. On Thursday, community hearings were held in St. Petersburg and Clearwater. Hearings continue Friday in Inverness and Ocala and wrap up next week before the issue heads to the PSC.

Michigan regulators on Tuesday ordered Consumers Energy to return an additional $36 million from the sale of its Palisades nuclear plant to customers to help offset utility plans to implement a $179 million electric rate hike. The CMS Energy subsidiary asked the Michigan Public Service Commission last November for a nearly $215 million annual rate hike, citing "substantial investments" it is making to serve its 1.8 million electric customers. The state's new comprehensive energy law, which the Legislature passed last year, includes a "file and use" provision allowing utilities to implement rate cases if the PSC has not acted within 180 days of a filing. That deadline for Consumers falls on Thursday and the utility intends to implement the hike, subject to refund. Consumers can implement the entire rate request if the PSC fails to issue a final order by November 14.

Residents living in counties in close proximity to the Indian Point nuclear power plant in Westchester have the highest cases for thyroid cancer, a startling new report revealed Monday. According to the article published in the International Journal of Health Services, the rate of residents in the area diagnosed with the disease is the highest in New York State and among the highest in the United States. The 2001-2005 rate for the four counties surrounding the plant - Orange, Putnam, Rockland and Westchester - was 66% above the U.S. Average, according to the U.S. Centers for Disease Control and Prevention. The rates of local residents with thyroid cancer have significantly increased since the late 1970s, when the two Indian point reactors were installed, the report revealed.

Residents living in counties in close proximity to the Indian Point nuclear power plant in Westchester have the highest cases for thyroid cancer, a startling new report revealed Monday. According to the article published in the International Journal of Health Services, the rate of residents in the area diagnosed with the disease is the highest in New York State and among the highest in the United States. The 2001-2005 rate for the four counties surrounding the plant - Orange, Putnam, Rockland and Westchester - was 66% above the U.S. Average, according to the U.S. Centers for Disease Control and Prevention. The rates of local residents with thyroid cancer have significantly increased since the late 1970s, when the two Indian point reactors were installed, the report revealed.

"Moody's cuts nuclear operator Tepco rating to junk status TOKYO, June 20 (Reuters) - Moody's Investors Service cut its credit rating on Tokyo Electric Power Co to junk status on Monday and kept the operator of Japan's crippled nuclear power plant on review for possible further downgrade, citing uncertainty over the fate of its bailout plan. Moody's said it had lowered Tokyo Electric Power's (Tepco) senior secured rating to Ba2 from Baa2 and long-term rating to B1 from Baa3, citing rising costs and compensation fees related to the disaster at Tepco's Fukushima Daiichi nuclear plant after the March 11 earthquake and tsunami, the world's worst nuclear disaster in 25 years. "

Contrary to earlier projections, Peco customers can expect rate hikes of 19 to 20 percent when artificial price caps on utilities expire over the next few years, a company official revealed Wednesday. Until now, Peco held the somewhat envious position among Pennsylvania utilities as the only provider expected to raise electricity rates by single digits come January 2011. Those figures were according to estimates released by the state's utility consumer advocate in May. Other companies such as Allegheny Power and PPL are expected to hike rates by 63 percent and 37 percent - respectively - when the Pennsylvania price caps expire.

"SFU researcher finds children in Basrah have four times the rate of leukemia as those in Kuwait A Simon Fraser University researcher will concentrate his search for potential causes of childhood leukemia in southern Iraq, where the rate of the blood cancer in some areas is now four times that of neighbouring Kuwait. Tim Takaro and his associates from the University of Washington, Mustansiriya University in Baghdad and Basrah University say in a newly published study that the rate of leukemia in children under 15 from Basrah rose to 8.5 cases per 100,000 from three per 100,000 over the 15-year study period. The rate in nearby Kuwait is two per 100,000. The intensity and duration of armed conflict in Basrah has presented researchers with a natural laboratory in which to conduct their search for the causes of childhood leukemia, Takaro said."

"Progress Energy is asking the Tampa Tribune to retract a two-paragraph brief that ran on page 6B of its print editions, which said the utility company had plans to scrap development of its nuclear power plant after state regulators last week rejected its $500 million rate increase request.Download Utility reaction to rate hike rejection1 The article sparked a protest from Sen. Mike Fasano, who sent a letter to Public Service Commission Chairwoman Nancy Argenziano asking the PSC to demand that the company refund to customers the money it had already collected from customers to pay for development of the new nuclear plants. "Since Progress Energy was allowed to raise rates last year and previously for advance nuclear cost recovery, it only seems fair that the customers who paid those rates should be given a refund for a project that is no longer in the works,'' Fasano wrote. Download Argenziano24a.ltr"

"A researcher from Simon Fraser University is investigating childhood leukemia in southern Iraq, where the rate of the blood cancer in some areas is now four times that of neighbouring Kuwait. Tim Takaro and his associates from the University of Washington, Mustansiriya University in Baghdad and Basrah University said in a newly published study that the rate of leukemia in children under 15 from Basrah rose to 8.5 cases per 100,000 from three per 100,000 over the 15-year study period. The rate in nearby Kuwait is two per 100,000. The intensity and duration of armed conflict in Basrah has presented researchers with a natural laboratory to conduct their search for the causes of childhood leukemia, Takaro said."

New research reveals that thyroid cancer rates near the Indian Point nuclear power plant are among the highest in the nation. Government statistics show that, compared to the U.S., thyroid cancer rates are 106 percent higher in Rockland County; 102 percent higher in Putnam County; 87 percent higher in Orange County; and 42 percent higher in Westchester County. These figures are alarming. Unfortunately, Westchester County Health Commissioner Joshua Lipsman maliciously attacks this research, done by the Radiation and Public Health Project. RPHP, which I direct, comprises professional scientists. Our research is factual, while he has no proof to support his statements. My colleagues and I have published 25 papers on radiation health risk in scientific journals, including the esteemed Lancet and British Medical Journal. All papers were peer-reviewed by expert scientists who found them to meet high professional standards. Lipsman never published a single journal article on radiation health.

New research reveals that thyroid cancer rates near the Indian Point nuclear power plant are among the highest in the nation. Government statistics show that, compared to the U.S., thyroid cancer rates are 106 percent higher in Rockland County; 102 percent higher in Putnam County; 87 percent higher in Orange County; and 42 percent higher in Westchester County. These figures are alarming. Unfortunately, Westchester County Health Commissioner Joshua Lipsman maliciously attacks this research, done by the Radiation and Public Health Project. RPHP, which I direct, comprises professional scientists. Our research is factual, while he has no proof to support his statements. My colleagues and I have published 25 papers on radiation health risk in scientific journals, including the esteemed Lancet and British Medical Journal. All papers were peer-reviewed by expert scientists who found them to meet high professional standards. Lipsman never published a single journal article on radiation health.

Neil Craig (Letters, 23 October) gives a figure of 1.3p per kilowatt hour for the cost of French electricity. This is as dishonest as many of the statements of nuclear advocates. The French tariff is complicated and depends on your connection rating, the time of day and three different day "colours" announced day to day, depending on expected demand. An excellent explanation can be found on Google. For the typical example of 3000kWh at the cheap rate, 2000kWh normal rate, plus the connection charge for 9kW, the total was 0.11 per kilowatt hour in 2004 . Can Mr Craig say where he got the 1.3p figure?