frozenmail.net
frozenmail.net October 22, 2017


USA nuclear reactor project collapses

02 August 2017, 11:10 | Christie Tate

Santee Cooper Sign located in Moncks Corner

Santee Cooper Sign located in Moncks Corner

Two South Carolina energy companies cited ballooning construction costs, delays and a contractor bankruptcy for their decision to ditch plans on a nuclear plant.

He argued that the Georgia project's customer base is over three times larger than that in SC, and that differing financial factors may make it easier for Plant Vogtle's construction to continue.

Westinghouse filed for bankruptcy March 29, overwhelmed by the cost overruns on two reactors at the V.C. Summer plant in SC and the similar unfinished Vogtle nuclear project in Georgia.

Santee Cooper, the junior partner in the reactor project, said shelving the project would save almost $7 billion in additional costs to complete it, which would have pushed the price tag to $11.4 billion on what was only supposed to cost $5.1 billion to begin with.

They recognized that some assistance was needed to overcome the natural reluctance of any utility company to be the first to build a new nuclear plant in the U.S.in more than 35 years.

"You have reached into the pocket of the consumer so many times, " Cobb said of SCE&G. SCE&G plans to use the anticipated payments resulting from the settlement of Toshiba's guaranty to mitigate cost impacts to SCE&G electric customers.

Fluor Corp., a contractor that Scana had previously said was capable of taking over the V.C. Summer project from Westinghouse, dropped as much as 6.3 percent to $41.78 in intraday trading.

"I have a feeling we're going to get a similar story from Southern", Charles Fishman, a Chicago-based analyst for Morningstar Inc., said by phone Monday.

Discovery buys Scripps Networks for $14.6bn
After posting $0.41 EPS for the previous quarter, Discovery Communications Inc .'s analysts now forecast 68.29 % EPS growth. Moffett Nathanson reiterated a "sell" rating on shares of Discovery Communications in a report on Friday, June 9th.

Another pair of SC reactor at Vogtle managed by Westinghouse are also at risk, as they're roughly three years behind schedule and $3 billion over their original budget. "It is not a criticism, it just is what it is". "We have already begun to align our operations to the plan and look forward to moving through the Chapter 11 proceedings in a swift manner".

Santee Cooper made a decision to stop building two nuclear power plants but company officials say they're still moving forward with plans to potentially increase rates over the next two years. "We're making sure our assessment is as comprehensive as possible". "This is regardless of whether the projects are completed".

During the period after EPA 2005, the federal government did not consistently advocate for the need for restoring our ability to build new nuclear projects from the bully pulpit. For the time being, work continues on Vogtle and a cost analysis is underway that will be finished next month, he said.

"Unless the nuclear industry acknowledges that there are no shortcuts to development of new nuclear power technology, it will be doomed to repeat this failure", he said.

That prompted some like Stephen Smith from the Southern Alliance for Clean Energy to ask what about Plant Vogtle in Georgia?

The Vogtle project is more than $3 billion over budget and over three years behind schedule.

Originally proposed in 2007, the two-reactor expansion of the Summer plant was supposed to be completed by 2017 and 2018, respectively. Even waste materials from the fuel rods are far less of a concern because advancements in that field now allow us to reuse those spent rods far more efficiently with much less waste to store. "During the wind-down, Santee Cooper will also continue investigating federal support and additional partners to see if we can make the project economical again", Carter said.



Other News

Trending Now

USA sanctions Venezuelan president, calls him a 'dictator'
Antonio Ledezma was granted house arrest in 2015 after being imprisoned on charges of leading a coup against Maduro. Ledezma's daughter also posted a video which reportedly shows her father being detained by government officials.

Dujana, ruthless terrorist with a weakness for women
The protesters resorted to heavy stone-pelting on government forces who retaliated with teargas, pellets and also bullets. Dujana had been frequenting the house of his wife and was believed to have other women friends as well.

England in box seat v Sth Africa 3rd Test
Philander managed only five overs and, when South Africa turned to their change bowling, Stokes tucked in with drives and pulls. Stokes ensured his early hard work and former captain Alastair Cook's innings of 88 did not go to waste.

Dodgers' Roberts expects nothing but best from Giants
The club is well on its way to winning their fifth consecutive division title, but that no longer is good enough for this team. Adam Conley (4-3) earned the win, allowing five hits, two walks and two runs in a season-high 7 2/3 innings.

Trump Is Acting Suspicious Because He 'May Be' Innocent, Fox News Says
Comey's dismissal falls squarely within Attorney General Sessions' recusals", Coons writes in the letter. In the "real world", attacking a colleague or employee on social media could be grounds for termination.

Cersei Lannister has a new ally as Game of Thrones heats up
If you have cable and are now subscribed to HBO, you can live stream Game of Thrones " The Queen's Justice " on HBO GO . I suspect it may be another Greyjoy (Victarion?) unless I'm just failing at placing the face.

Chaotic West Wing shake-ups continues in White House
But as time went on, the president became annoyed with the negative coverage because it "took over everything", the official said. Trump's tweets serve as a near constant reminder of those who have tried to bridle the president in the past - and failed.

Kit Harington talks about Jon Snow and Daenerys first meeting
Game of Thrones continues Sundays in the United States on HBO and Mondays in the UK on Sky Atlantic. Oh Game Of Thrones , you're killing us, with episode after jaw-dropping episode.

GOP health-care effort collapses when McCain, Collins, Murkowski vote no
Others asserted that McCain was living up to his "nickname, The Maverick" by voting against the repeal bill . And the conference process that Senator McConnell now would use would only strengthen his hand.

Russian President Vladimir Putin says, 755 US diplomats should leave Russia
On taking retaliatory measures, Putin said, "I thought it was time for us to show that we will not leave this without an answer". Obama had ordered reductions in Russian diplomatic staff to punish Russia for interfering with the 2016 USA elections.