Economics

News and articles regarding the economics of nuclear power.

British Energy Shares Slump

British Energy (UK:BGY: news, chart, profile) shares slumped 8.1% in the top index as the company detailed further shutdowns for some of its reactors. Four of British Energy's reactors are currently shut after it discovered a problem related to its Hartlepool Reactor 1.

Australia - Cost of nuclear plant closure put at $10m

AUSTRALIA's new $400-million nuclear reactor at Lucas Heights will remain shut down until the beginning of next year, possibly costing millions of dollars and tarnishing our nuclear research reputation.

Hooked on Subsidies - Why conservatives should join the left's campaign against nuclear power.

When it comes to politics, we don't often find ourselves in agreement with Bonnie Raitt or Graham Nash. But now that they are campaigning against new nuclear plants, they're our friends. Raitt, Nash, the Indigo Girls and other vocal rockers are attacking a provision in pending Senate legislation that would award what they call "massively expensive loan guarantees - potentially a virtual blank check from taxpayers" for nuclear power plant construction.

SLO Sierra Club Letter to Sen. Feinstein re: Loan Guarantees for new nuclear power plants

 

The real cost of power

In his latest nuclear report last month, Jan Willem Storm van Leeuwen, senior scientist at the Netherlands-based Ceedata Consultancy, said nuclear power systems were not an option as they produced more carbon dioxide than fossil-fuelled power stations. “More uranium ore has to be processed each year to feed one nuclear power plant than the annual coal tonnage of coal consumed by a coal-fired power plant to generate the same amount of electricity,” he said. Once started, a nuclear reactor generates unavoidable and very large amounts of radioactive waste, posing immeasurable risks to man and society, he said.

Nuclear contract biggest on record

NOTE FROM A4NR: This is amazing and we hope will be incorporated in the 1632 analysis. Areva shows up in CA and says it wants to build nukes in our state. Well, if it will cost over $13 billion for two reactors (fuel included) using Chinese labor, what would the costs be in California?

Okla.: Costs Make Nuclear Power Unlikely

Oklahoma power producers said Tuesday the high cost and lengthy construction time for a nuclear power plant make it unlikely they will turn to nuclear energy to meet rising consumer demand for power in the state.

Nuclear Costs Explode

Progress Energy Florida is going to have to spend more than originally planned to build two nuclear reactors in Levy County, the utility's top executive said. . . That's because the cost of concrete, steel, copper, labor and reactor technology has soared as energy companies move forward with plans to build more than 30 new reactors nationwide. Also, Progress Energy's initial estimate excluded the cost of land, inflation, interest payments and new transmission lines.

SCANA studies options,nuclear expansion too costly

SCANA Corp's South Carolina Electric & Gas utility is stepping back from plans to pursue a new nuclear reactor as costs skyrocket, a spokesman said on Friday. The Columbia, South Carolina-based utility planned to file an application with nuclear regulators last year but delayed that action while it studies costs of alternate generation options, said spokesman Robert Yanity.

Company official confirms ID nuclear plant plans scuttled

An official of MidAmerican Nuclear Energy confirms his company has decided to end its pursuit of a nuclear energy plant in southwest Idaho. In a message posted on the Iowa company's Web site Sunday, Bill Fehrman said that after due diligence, MidAmerican Nuclear concluded it does not make economic sense to pursue the Payette County project at this time.

NIRS STATEMENT ON CANCELLATION OF IDAHO NUCLEAR REACTOR

 

FPL says cost of new reactors at Turkey Point could top $24 Billion

Building two new reactors at Turkey Point would cost as much as $24.3 billion, depending on the technology chosen,Florida Power & Light Co.as told the Florida Public Service Commission. The company said the cost for building the two units ranges from $12.1 billion to $17.8 billion for Westinghouse's AP1000, and $16.5 billion to $24.3 billion for General Electric's ESBWR.

Capacity crisis at Japan Steel Works threatens global nuclear power plant production

A 100-year-old steel mill that once forged guns for the Japanese Imperial Navy has hit a production bottleneck that threatens to derail more than £150 billion of global nuclear power-plant construction.

Nuclear-cost secrecy fuels 2-state outcry - Consumer advocate, nuclear critics want estimates made public

As the fight over nuclear energy shifts from safety to cost, timing the announcement of a multibillion-dollar expense takes on an increasingly strategic value to both sides. The estimated cost of new nuclear power plants has tripled, with projections now hitting $6 billion to $9 billion per reactor. Cost estimates are expected to continue escalating and make new nuclear power even harder to sell to a public that will ultimately pay for new plants through rate increases.

New Wave of Nuclear Plants Faces High Costs

A new generation of nuclear power plants is on the drawing boards in the U.S., but the projected cost is causing some sticker shock: $5 billion to $12 billion a plant, double to quadruple earlier rough estimates.

Prices are Rising - Nuclear Cost Estimates Under Pressure [PDF]

The rising cost of materials and labor has the potential to put an end to the nuclear renaissance before it ever gets started. Company estimates that have been released show costs for an individual unit could be as high as $12 billion, and one consultant expects those estimates could rise if material prices continue to escalate.

SCE&G requests 37 percent rate increase - Customers would see monthly bills rise over 11 years to pay for two nuclear reactors

SCE&G ratepayers’ bills would rise 37 percent by 2019 if the state approves the Columbia utility’s plan to start paying costs upfront for two large nuclear reactors it would build 25 miles northwest of Columbia.

Areva faces 50 pct cost rise for Finnish nuclear reactor

French nuclear group Areva is facing a 50 percent rise to the cost of building the world's first next-generation pressurised water reactor in Finland, the business daily Les Echos reported Thursday. The cost of constructing the plant at Olkiluoto has risen from three billion to 4.5 billion euros (6.7 billion dollars), the paper reported citing an unidentified source.

Progress Energy will ask for rate hike in Florida

Progress Energy Florida will ask the state to approve a 31 percent customer rate hike partly to help pay for two new nuclear power plants. The company said Friday the increase will amount to an extra $34.27 monthly for a user of 1,000 kilowatt hours. If approved by the state Public Service Commission later this year, the hike will take effect in January.

THE FLAWED ECONOMICS OF NUCLEAR POWER

“Over the last few years the nuclear industry has used concerns about climate change to argue for a nuclear revival. Although industry representatives may have convinced some political leaders that this is a good idea, there is little evidence of private capital investing in nuclear plants in competitive electricity markets,” says Lester R. Brown, President of the Earth Policy Institute, in a recent release, The Flawed Economics of Nuclear Power. “The reason is simple: nuclear power is uneconomical.”

Green Investments and Jobs: A Response to the Heritage Foundation

Over the long term, a $1 million increase in green investment spending that is offset by a $1 million reduction in spending within the oil industry will still produce a net increase of 12.5 jobs.

Construction Costs To Soar For New U.S. Nuclear Power Plants

Despite a reinvigorated interest in nuclear power in the U.S., the development, construction, and operation of any type of nuclear plant must still overcome many hurdles. Foremost are safety issues, which new technologies attempt to address. Another is the absence of any recent meaningful experience in the U.S. with building a nuclear plant. Complicating these challenges are the resource pressures that the expansion of global infrastructure has created and the resulting significant inflation in capital costs. This is a link to the Standard & Poor report.

Duke doubles cost estimate for nuclear plant

Duke Energy Carolinas has raised the expected construction costs of its proposed Lee Nuclear Station to $11 billion, excluding financing costs. That's roughly twice the company's original estimates.

Areva's Finnish nuclear costs rise sharply

France's Areva will have to take a provision because of a nuclear reactor project in Finland where costs have spiralled to 4.5 billion euros ($6.66 billion) from a planned 3 billion, French newspaper Les Echos said on Thursday.

California: Nuclear plants may need $5.6 billion in cooling retrofits

The California Energy Commission on Nov. 20 adopted a report warning that the state's two nuclear plants may be required to conduct more than $5.6 billion worth of cooling system retrofits if another state agency adopts regulations to outlaw the "once-through" cooling systems both plants use.