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Friday
Feb082013

Entergy Watch: New CEO admits times are tough at Entergy's merchant reactors

Leo P. Denault, Entergy's new CEO and Chairman of the BoardAs reported by Reuters, Entergy Nuclear's new CEO and Chairman of the Board, Leo P. Denault (pictured left), has admitted "its merchant nuclear power plants are in 'challenging economic situations,'" and "'[n]ear-term power prices are challenging for some merchant nuclear generating units in certain competitive markets.'" The admission came during a fourth-quarter earnings call.

The article continues:

"He said some plants are in the more challenging economic situations for a variety of reasons, including 'the market for both energy and capacity, their size, their contracting positions and the investment required to maintain the safety and integrity of the plants.' (emphasis added)

He would not name the plants but said, 'There are years when certain plants' cash flows can be negative at today's forward price curve.'"

UBS has concluded that the financial pressures could force Entergy to close Vermont Yankee, FitzPatrick in New York, and even Pilgrim near Boston yet this year.

A Dominion spokesman admitted last October that the high cost of making needed safety repairs was a major factor in the nuclear utility's decision to close Kewaunee in Wisconsin by mid-2013. It was the first announced closure of an atomic reactor in the U.S. in 15 years.

Friday
Feb082013

Entergy Watch: Pilgrim Coalition urges NRC to require Mark I atomic reactor to shutdown during historic winter storm

NRC file photo of Entergy's Pilgrim Mark I atomic reactor, on a more calm, sunny dayAs reported by Wicked Local Plymouth, in the lead up to what is being reported as an historic winter storm about to hit the Northeast, Pilgrim Coalition and Cape Cod Bay Watch are calling on the U.S. Nuclear Regulatory Commission (NRC) to order Entergy's Pilgrim atomic reactor shutdown, "arguing that a prolonged power outage, flooding, high winds, and snow and ice could cause several serious problems at Pilgrim."

However, as of 2:30 PM, NRC's "Current Power Reactor Status" report shows that Pilgrim is operating at 83% power. All other reactors in the Northeast are also operating, either at, or very close to, 100% power levels.

In a press release, Pilgrim Coalition spokespeople stated:

“This is predicted to be a historic storm with severe consequences,” said Pine DuBois, Executive Director of Jones River Watershed Association. “Winds are supposed to pick up Friday night during high tide and continue through the even higher tide Saturday morning. Near hurricane gusts will be out of the east, hitting Pilgrim head-­‐on. At other times during high winds, Pilgrim’s water intake pumps have failed.”

“Entergy could not keep the lights on during the Super Bowl -­‐ can we be sure they’ll provide enough power to Pilgrim during the storm?” duBois added.

According to Karen Vale, Campaign Manager at Cape Cod Bay Watch, “This historic storm emphasizes that rising sea levels and frequent, more severe storms make Pilgrim’s continued operations increasing risky. We hope that the NRC will close Pilgrim until the threat of the storm passes.”

As Beyond Nuclear's Freeze Our Fukushimas campaign has warned, no matter the cause (earthquake and tsunami, or historic winter storm at high tide), any prolonged loss of power to atomic reactors can lead to meltdown and catastrophic radioactivity releases. Entergy's Pilgrim is an identical twin design to Fukushima Daiichi Units 1 to 4, a General Electric Mark I Boiling Water Reactor.

Friday
Feb082013

"Exelon cuts dividend by 41%," as NRC investigates "deliberate" deception regarding decommissioning funds

Between the Chicago Tribune, Bloomberg, Crain's Chicago Business, and Reuters, it has been reported in recent days that Exelon Nuclear: has seen its stock price drop by two-thirds since 2008; is under investigation by the U.S. Nuclear Regulatory Commission (NRC) for "deliberate" deception involving a billion dollar shortfall in its decommissioning funds; and has cancelled $2.3 billion in risky power uprates at age-degraded reactors, in order to shore up its credit rating and increase shareholder dividends.

U.S. Rep. Ed Markey (D-MA) has long shined a spotlight on the inadequacy of decommissioning funds across the nuclear power industry, as by requesting Government Accountability Office (GAO) investigations into NRC oversight (or lack thereof).

Ironically, Exelon, the largest nuclear utility in the U.S., is looking to expand holdings in its renewables (wind, solar) portfolio, in order to improve its return on investment in the short term. However, it is also poised to gouge its ratepayers at the earliest opportunity, by increasing the price it charges for nuclear electricity. More.

Friday
Feb082013

Entergy admits its faulty equipment caused 35 minute Super Bowl "lights out"

The darkened Superdome evoked memories of Hurricane Katrina, when the facility served as the emergency shelter of last resort for thousands of displaced New Orleans residentsFirst, Entergy denied any responsibility, instead pointing fingers at the Superdome. Then, Entergy agreed to the need for an investigation. And now, five days later, Entergy admits that its faulty equipment was the culprit that plunged the Super Bowl -- and 75,000 in-stadium fans -- into darkness for 35 long minutes. 108.4 million others watched the darkness on television.

It's not unlike that time in Vermont, when Entergy officials testified, under oath, to state officials, that no underground piping existed at Vermont Yankee which could possibly be conducting radioactive materials. Only to have to admit a short time later, that those very pipes which it had denied even existed, were leaking tritium and other radioactive contaminants into soil, groundwater, and the Connecticut River.

Or that time, when it took over at the Palisades atomic reactor in Michigan, when it promised it would replace the corroded reactor lid and degraded steam generators, as well as deal with the worst embrittled reactor pressure vessel in the U.S. -- but never did.

The Chicago Tribune has reported on Entergy's mea culpa for causing the Super Bowl lights out. USA Today reports that Entergy stocks took a hit upon the admission. CBS Sports has reported that documents revealed concerns about electrical failures in the months leading up to the game. More.

Thursday
Feb072013

Markey letter to the Nuclear Regulatory Commission on hydrogen explosions/vents

U.S. Rep. Ed Markey (D-MA), Ranking Member of the House Natural Resources CommitteeThe Office of U.S. Representative Ed Markey (D-MA, pictured left), Ranking Member of the House Natural Resources Committee, has circulated the following statement:

"Today, Rep. Markey sent a letter to NRC Chairman Allison Macfarlane urging NRC to follow the recommendations of its technical staff and require filtered vents on some nuclear reactors in order to facilitate the prevention of the sort of hydrogen explosions that occurred during the Fukushima meltdowns. The letter also conveyed Rep. Markey’s concerns about ongoing potentially misleading statements made by some NRC personnel concerning the ability of U.S. nuclear reactors to prevent a dangerous buildup of hydrogen gas in nuclear containment structures in the event of a nuclear accident."