Nuclear News: Cost Concerns Loom Over US Nuclear Revival
Today's big stories from the nuclear industry:
CNN: POWER POINTS: Cost Concerns Loom Over US Nuclear Revival
’For U.S. utilities gearing up to build new nuclear-power plants, the rewards could be great, but the risks of cost overruns, delays and regulatory battles persist. Expanding the nation's use of nuclear power is seen by many as a key component of any strategy to fight climate change, and utilities are lining up to provide it. The U.S. Nuclear Regulatory Commission has received applications from 14 companies to build and operate new nuclear power plants. Energy Secretary Steven Chu last week told utility executives that nuclear power, along with renewable energy and conservation, will be an important way to meet growing U.S. energy demand while cutting emissions of greenhouse gases. The companies behind these projects, including Southern Co. (SO) and Duke Energy (DUK), are upbeat on their prospects, noting guaranteed long-term returns on investment and increasing acceptance of a need to replace coal-fired power plants and their emissions. History sounds a cautionary note, however. Nuclear-power plants under development in Europe have come under fire for exceeding previously estimated costs, a fate that led developers to abandon several nuclear-power projects during the last U.S. nuclear build-out that ended in the early 1990s.’
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