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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: golfer72 who wrote (180535)	9/15/2013 7:08:53 PM
From: Jacob Snyder	2 Recommendations Recommended By ChanceIs Claude Read Replies (1) \| Respond to of 206325

If you think solar subsidies are bad: ...spurred on by new tax credits and loan guarantees promised in the 2005 Energy Policy Act—as well as by high prices for natural gas, a competing fuel—the industry has recently had visions of a “nuclear renaissance.” By 2009, utilities were planning more than 30 new reactors. But in the years since, the vast majority of these plans have been shelved. Even with huge subsidies, private lenders still see new nuclear projects as too risky to finance. Meanwhile, the U.S. shale gas production boom sent natural gas prices plummeting, further darkening nuclear’s prospect.In 2012, the U.S. Nuclear Regulatory Commission (NRC) approved four new reactors for construction, two each at the Vogtle plant in Georgia and the Summer plant in South Carolina. These reactors are all of the same commercially untested design, purportedly quicker to build than previous plants. Both projects benefit from fairly new state laws that shift the economic risk to ratepayers. These “advanced cost recovery” laws, also passed in Florida and North Carolina, allow utilities to raise their customers’ rates to pay for new nuclear plants during and even before construction—regardless of whether the reactors are ever finished. Construction at both sites began in March 2013. Even as the first concrete was poured at the $14-billion Vogtle project, it was reportedly 19 months behind schedule and more than $1 billion over budget. The Summer project, a $10 billion endeavor, also quickly ran into problems. In June its owner, Scana Corp., admitted that it was running about a year behind and faced $200 million in additional costs. With these delays, the earliest projected completion date for any of these reactors is some time in late 2017. The only other reactor currently under construction in the United States is Watts Bar 2 in Tennessee. It broke ground in 1972 and, after being on hold for two decades, was finally scheduled for completion in 2012. But that year, the owner—the Tennessee Valley Authority—announced it would be delayed again until 2015 and that the cost of the project would rise by up to 80 percent, to $4.5 billion. treehugger.com