As reported by Bloomberg, "Edison International (EIX)’s decision to abandon its San Onofre nuclear plant in California is the latest blow for an industry already facing questions about its long-term survival."
The article, entitled "San Onofre Seen as Latest Setback for U.S. Nuclear Power," reports:
“The decision to shut down San Onofre is another sign that the economics of nuclear are under pressure given the low cost of alternative sources,” Travis Miller, a Chicago-based analyst for Morningstar Inc. (MORN), said in a phone interview. “Just five years ago, nuclear power plants looked like a gold mine.”
The article also reported:
“The decision to shut down rather than retrofit the San Onofre nuclear plant shows the changing economics of the power market,” Howard Learner, executive director of the Environmental Law and Policy Center, a Chicago-based advocate of cleaner energy, said in a telephone interview. “We suspect other nuclear plant owners may start reaching the same decision.”