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ARTICLE ARCHIVE

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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Monday
Apr022018

FirstEnergy throws a tantrum -- again

Thursday
Mar292018

FirstEnergy announces four reactor closures, scheduled for 2020 and 2021

Friday
Feb232018

FirstEnergy CEO says generation subsidiary headed for bankruptcy protection

Thursday
Feb222018

FirstEnergy's Beaver Valley nuclear power plant likely headed for bankruptcy next month 

Wednesday
Feb212018

FirstEnergy Solutions failure appears inevitable says FE CEO

As reported by John Funk in the Cleveland Plain Dealer.

The article reports:

Moody's has lowered the subsidiary's rating from below investment grade to likely to default.

At that point of a Chapter 11 filing, the fate of the company's power plants, including Perry nuclear plant in Lake County east of Cleveland and Davis-Besse in Ottawa County near Toledo will most likely be up to a federal bankruptcy judge.

A major decision on the fate of Ohio's atomic reactors is expected in early April. Shutdown, sale, or taking them private seem the most likely outcomes.

Beyond Nuclear has long called for Davis-Besse's permanent shutdown, as a vital safety matter. We helped lead a binational environmental coalition, represented by Toledo attorney Terry Lodge, which sought to block the 2017 to 2037 license extension. The U.S. Nuclear Regulatory Commission rubber-stamped the license extension anyway, despite our best efforts.

In recent weeks, Beyond Nuclear published an op-ed in the Toledo Blade, and a letter to the editor in the Columbus Dispatch, pointing out the safety imperative of closing Davis-Besse ASAP.

And in recent days, Beyond Nuclear joined with Michigan and Ohio colleagues, to call attention to multiple problems at the Perry atomic reactor as well.