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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From Midwest Energy News:
NUCLEAR: The presidential election results jeopardizes some key portions of a plan to keep struggling nuclear plants open in Illinois, though Exelon is showing no signs of pulling back. (Crain’s Chicago Business)
"Burning money" image, by Gene Case of Avenging Angels, was featured on The Nation's 2003 cover regarding the "Nuclear Power Relapse"Tim Judson, executive director of Nuclear Information and Resource Service (NIRS), has published a report entitled "Too Big to Bail Out: The Economic Costs of a National Nuclear Power Subsidy." Judson was joined on a press conference by former Nuclear Regulatory Commissioner Peter Bradford (listen to the recording here). Their analysis made clear that: nuclear power is not a viable climate strategy; more than half of U.S. reactors are expected to be uneconomical by 2020; and that this huge infusion of public funding for old nuclear plants would crowd out renewables. Meanwhile, in New York, the StopTheCuomoTax.org -- No Nuclear Bailout campaign has, most recently, issued an action alert, flown airplane banners, and erected billboards, to protest against the State of NY's agreement to pay $35 million of public money, if the transfer (from Entergy to Exelon) of the age-degraded, economically failing FitzPatrick reactor in upstate NY on the Lake Ontario shore is not finalized for certain reasons -- but state officials won't divulge what those reasons are (as reported by Syracuse.com). The campaign is now calling for New Yorkers to come to Albany on Thurs., Nov. 17th, to speak out at the Public Service Commission. More
This action alert is from Blair Horner, Stop the Cuomo Tax:
Would you pay $7.6 billion for something you know is old and dangerous? What if you knew there were better options available? And, would you do it without even seeing the terms of the contract? No way, right?
That's why a month ago we began our push to stop Governor Cuomo's scheme to hike New Yorkers' electric bills by $7.6 billion to bail out old, unsafe, unprofitable nuclear plants owned by a wealthy Chicago-based corporation. Since then, over 25,000 New Yorkers have joined the movement to Stop the Cuomo Tax.
Now we invite you to join us to deliver that message in person to state energy regulators.
Thursday, 11/17 at 9:30am
Department of Public Service
3 Empire State Plaza, 19th Floor Boardroom
Albany, NY 12223
Next week, the Public Service Commission meets in Albany to discuss the proposed sale of the FitzPatrick nuclear plant to Exelon Corporation. Exelon is the Chicago company the Cuomo Tax would force New Yorkers to subsidize with $7.6 billion in extra charges on our electric bills.
Stopping the sale is key to stopping the bailout. We'd tell you more about the sale and the bailout, but almost all the information, including the contract itself, has been kept secret. While the terms are secret, we do know who's going to get the $7.6 billion bill — us.
A secret deal to force New Yorkers to bail out a wealthy Chicago corporation with $7.6 billion of our hard-earned money, and not even telling us the contract terms — it's just wrong. Join us in Albany next week to say so in person.
If enough of us show up and speak out, we'll be one step one closer to winning this fight, stopping The Cuomo Tax and blocking this nuclear bailout scheme.
Thursday, 11/17 at 9:30am
Department of Public Service
3 Empire State Plaza, 19th Floor Boardroom
Albany, NY 12223
This is a great opportunity to send a message to state regulators that the people of New York aren't going to sit idly as Gov. Cuomo jacks up our electric bills in order to bail out a wealthy Chicago energy company.
We can't wait to see all of you on Thursday. Don't forget to RSVP.
Blair Horner
Stop the Cuomo Tax
Thanks to Scott Stapf for the Tweet, pointing to this article at Syracuse.com:
"Why might NY pay $35M to nuclear plant? None of your business, state says".
As reported by Tampa Bay Times columnist John Romano, in a column entitled "Did I mention that Amendment 1 is a no-good, dirty scam?". Thanks to Scott Stapf of the Hastings Group for Tweeting it out.
November 11, 2016