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Thursday
May092013

"Worst Week Since Fukushima: 4 Setbacks in 3 Days are Latest Stumbles for Nuclear Power Industry"

Wall Street still won't touch nuclear power investment risks. And, since nuclear power loan guarantees have been largely blocked at the federal level, the nuclear power industry's long-trumpeted "Renaissance" is now a headlong retreat.

Former NRC Commissioner Peter Bradford, and energy economist Mark Cooper, both of the Vermont Law School, as well as Dan Hirsch of the Committee to Bridge the Gap, held a telephone press conference yesterday on the subject of "WORST WEEK SINCE FUKUSHIMA: 4 MAJOR SETBACKS IN 3 DAYS ARE LATEST STUMBLES FOR U.S. NUCLEAR POWER INDUSTRY." An audio recording of the news conference has been posted online.

The four setbacks in three days include: 1) the cancellation of two proposed new reactors at South Texas Project, because they violate U.S. law against foreign ownership of nuclear power plants; 2) Southern California Edison's threat that if NRC does not allow it to restart operations at its crippled San Onofre nuclear power plant, it will permanently shutdown both reactors there; 3) Duke Energy's cancellation of two proposed new atomic reactors at its Shearon Harris nuclear power plant in North Carolina; and 4) Florida's amendment to its previously highly permissive "advance cost recovery" or "Construction Work in Progress" law, via which ratepayers have been gouged to pay for proposed new reactors, when there is no guarantee the proposed new reactors will ever actually get built or generate electricity.

Peter Bradford also added the May 7th shutdown of Dominion's Kewaunee atomic reactor in WI -- despite the 20 years of operating license still left to it -- as another example of the "worst week since Fukushima" for the U.S. nuclear power industry.