Nuclear power's toxic assets

Why Wall Street shies away from the toxic assets represented by new reactor construction. Read the Beyond Nuclear fact sheet here and the longer, White Paper analysis here.

Entergy suspends applications for two new reactors in Mississippi and Louisiana

The so-called “nuclear renaissance” was exposed as a house of cards on January 9, 2009 when New Orleans-based

Entergy Nuclear asked the US Nuclear Regulatory Commission to suspend review of two applications to build new reactors in Port Gibson, Mississippi and River Bend, Louisiana. Entergy had submitted the applications to construct and operate the General Electric/Hitachi Economic Simplified Boiling Water Reactors (ESBWR). But the design has proven to be neither economic nor simple. The NRC is reviewing hundreds of stubborn technical problems for the half-baked design. Entergy was unable to reach agreement with Hitachi as to how to resolve the technical issues but had reportedly already pre-ordered ESBWR parts on July, 27 2007.

Entergy now joins Exelon Nuclear, the Chicago-based nuclear power company, which similarly withdrew its application to build and operate an ESBWR design in November 2008 in Victoria, Texas. Two other nuclear power companies, Virginia-based Dominion and Michigan-based DTE, are still pursuing applications for permission to build ESBWRs in Mineral, Virginia and Monroe, Michigan, respectively. However, Dominion announced on January 9 an impasse on its agreement with Hitachi and is looking for a new construction partner to press onward into the fog.

Dennis Kucinich to investigate Nuclear Regulatory Commission and Reactor Safety

Prompted by the shocking revelations in our report on lax fire safety enforcement at nuclear plants (see below) - and the leaks of radioactive water in late October from the Davis-Besse (OH) nuclear plant - Rep. Dennis Kucinich (D-OH) has announced he will launch a full investigation into the U.S. Nuclear Regulator Commission and its safety oversight performance. Read the Kucinich announcement here.

Watchdogs call for Nuclear Regulatory Commission to enforce fire safety regulations or shut nuclear plants

A new report from three watchdog groups - Beyond Nuclear, NC WARN and the Union of Concerned Scientists - calls for the U.S. Nuclear Regulatory Commission to cease gambling with American lives and enforce fire safety regulations at the country's 104 operating nuclear reactors. The groups cite "deliberate bureaucratic negligence" as responsible for leaving millions of Americans unnecessarily exposed to high risks of fire hazards at reactors for more than a decade. (Photo at left shows the 2004 fire at the Vermont Yankee nuclear power plant). "I would not want to be in NRC's shoes when they face a grieving nation following a disaster so easily prevented," says David Lochbaum of UCS. Read the new report, Fire When NOT Ready, here. The report has been submitted to members of Congress. Read the letter to Rep. Tom Carper (R-DEL) here. And read - and circulate to your media contacts - the joint press release here.

Nuclear plant company in Idaho facing bankruptcy

A mandatory audit of Alternate Energy Holdings (AEHI), Inc., the company hoping to build more nuclear power in Idaho, shows that the company has suffered losses of 3.4 million dollars, leaving it in danger of bankruptcy. Despite its financial woes, the company still plans to forge ahead on the reactor. AEHI is publicly traded and started the building process last year, but has since only filed a Letter of Intent with the Nuclear Regulatory Commission. The NRC says the process should be further along. AEHI is planning on receiving funding from a Texas-based company to fund the project, although this company was not named. A spokesperson for Snake River Alliance, a group opposing the plant, says AEHI has little progress to show since it moved from Virginia to Idaho a year ago. Click here for more information.