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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Entries by admin (618)
November 22, 2020Sam Randazzo resigns as Public Utilities Commission of Ohio chair
As reported by Jeremy Pelzer at Cleveland.com, and reprinted at Midwest Energy News.
On Nov. 16, FBI agents raided Randazzo's home, as reported by Fox19 Now t.v. in OH.
Although not yet confirmed, it appears highly likely that the FBI raid on the Public Utility Commission of Ohio chairman Sam Randazzo is connected to the nuclear power bribery/bailout scandal. The scandal involves FirstEnergy Nuclear, which allegedly bribed OH's speaker of the state house, Larry Householder, to the tune of $61 million. The alleged bribe was made in order to secure, and defend, a $1.3 billion bailout, at Ohio ratepayer expense, to prop up two dangerously age-degraded, economically failed atomic reactors on the Lake Erie shore, as well as well dirty old coal burners, including one in Indiana.
Before succeeding at the OH state legislature, FirstEnergy had tried, time and time again for several long years, to secure its nuclear bailout at the PUCO. But it was blocked time and again by opponents, including Beyond Nuclear, on behalf of our members and supporters in OH.
Indictment raises questions on what ComEd CEO Dominguez knew and did
As reported by Steve Daniels at Crain's Chicago Business.
Commonwealth Edison (ComEd) is a subsidiary of Exelon, the largest nuclear power utility in the U.S. In 2016, Dominguez had a big hand in the bailout -- to the tune of $2.35 billion, at ratepayer expense -- of three dangerously age-degraded Exelon atomic reactors in IL, that the company said it would otherwise have to close for good.
Survival odds now tilt against Madigan
Springfield insiders say the beleaguered speaker—facing allegations the governor calls "unspeakably wrong"— now has an uphill battle to retain his post as head of the Illinois House. Here are the latest signs of his unraveling fortunes.
As reported by Greg Hinz in Crain's Chicago Business.
IL House Speaker Michael Madigan presided over the state chamber's approval of a $2.35 billion ratepayer funded bailout for three dangerously age-degraded Exelon atomic reactors in IL, in Dec. 2016. Exelon is Commonwealth Edison's parent company. ComEd executives and lobbyists have been indicted in this bribery scandal.
Editorial: What the ComEd scandal means, and what it costs
ComEd's parent company, Exelon, is the country's largest nuclear power utility. In 2016, many of the same corporate and political players now implicated in the current alleged bribery scandal, were also involved in the passage of a $2.35 billion nuclear bailout bill, at ratepayer expense, to prop up operations at three dangerously age-degraded atomic reactors in IL.