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Nuclear Costs

Estimates for new reactor construction costs continue to sky-rocket. Conservative estimates range between $6 and $12 billion per reactor but Standard & Poor's predicts a continued rise. The nuclear power industry is lobbying for heavy federal subsidization including unlimited loan guarantees but the Congressional Budget Office predicts the risk of default will be well over 50 percent, leaving taxpayers to foot the bill. Beyond Nuclear opposes taxpayer and ratepayer subsidies for the nuclear energy industry.

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Thursday
Sep072017

AJC: Georgia’s large power users save hundreds of millions on Plant Vogtle charges

Energy justice? Not in Georgia!

As reported by the Atlanta Journal-Constitution, different classes (a most apt term!) of electricity consumers are being charged different amounts, to pay in advance for the proposed new Vogtle 3 & 4 atomic reactors, long before they generate a single kilowatt-hour of electricity, if they ever do.

The article reports:

Georgia Power’s largest commercial customers have gotten breaks worth hundreds of millions of dollars off surcharges to finance the troubled Plant Vogtle nuclear project since 2011, an Atlanta Journal-Constitution analysis shows.

The rest of its customers — homeowners, smaller businesses and government power users such as MARTA and cities — have paid nearly 90 percent of the $1.9 billion collected so far in monthly bills to bankroll the Atlanta utility’s construction of two new nuclear reactors at the plant near Augusta. They will likely use about 70 percent of the plant’s output.

In contrast, Georgia Power’s industrial customers have paid only 12 cents out of every dollar of total Vogtle surcharges, even though they will likely use more than a fourth of the troubled expansion’s power if it is ever completed.

Friday
Sep012017

Media coverage of Vogtle 3 & 4 slogging ahead, despite cost overruns, schedule delays

Friday
Sep012017

Moody’s sour view of Georgia Power’s vow to keep plugging at Plant Vogtle

Thursday
Aug312017

Plant Vogtle builders to regulators: Keep going

As reported by the Atlanta Journal-Constitution.

The article reports:

Critics of the Vogtle project condemned Georgia Power’s recommendation.

“It is not a good deal for Georgia ratepayers,” said Liz Coyle, executive director of Georgia Watch, a consumer advocacy group. “I believe it is clearly uneconomic, and it is the (state utility regulator’s) responsibility to require the least-cost option,” said Coyle.

Critics have said the plant isn’t needed, and that Georgia Power and state regulators should also have looked at bigger investments in solar power and energy conservation instead.

Thursday
Aug032017

EXPERTS: V.C. SUMMER FAILURE SHOULD PUT AN END TO STATE AND FEDERAL BAILOUTS FOR NUCLEAR INDUSTRY

Vogtle Reactor Project Collapse Seen in Wake of VC Summer Project Abandonment; 2016 State Bailout Push for Nuclear Had Already Faltered in 2017, Budget-Busting Bill for U.S. Taxpayers If Foolhardy National Bailout Proceeds.

WASHINGTON, D.C.///August 3, 2017///The abandonment this week of the V.C. Summer nuclear project in South Carolina heralds the likely demise of “new” nuclear in the United States (including the Vogtle project in Georgia and North Anna 3 in Virginia) and also should put an end to state or federal bailouts for the failing nuclear industry, according to four experts who held a media briefing today.

Nuclear economist Dr. Mark Cooper, senior fellow for economic analysis, Institute for Energy and the Environment at Vermont Law School, said the V.C. Summer shutdown should lead to a similar step at the Vogtle project in Georgia and to a renewed focus on renewable energy...

Read the full 08.03.17 news release.
Listen to the 08.03.17 news briefing.

MEDIA CONTACT:  Max Karlin (703) 276-3255 or mkarlin@hastingsgroup.com.