Tuesday, February 16, 2010
DOE Issues Nuclear Guarantee
It promises to back loans for the first new nuclear reactors in decades.
By Kevin Bullis
The government has been promising to guarantee loans for nuclear power plants for years--as a way of bringing down the cost of financing these fantastically expensive projects. Now the Department of Energy has actually issued its first one, an $8.33 billion guarantee to support the construction of two nuclear reactors to be built at the site of an existing nuclear power plant in Burke, GA.
It's been decades since new nuclear reactors have been built in the United States. In 2005 Congress passed a law allowing the DOE to issue loan guarantees for nuclear power plants to get construction going again. But it's taken until now for the department to issue one. (Read the TR article "Obama Goes Nuclear" to see why the guarantees are needed.) The $8.33 billion is part of the $18.5 billion provided for such loan guarantees in the 2005 bill. President Obama's proposed budget would increase the total by $36 billion, enough for about seven new plants.
The loan guarantee for the Burke reactors comes with a catch, however. The design for the nuclear reactors to be used there--the Westinghouse AP1000--hasn't yet passed muster with the Nuclear Regulatory Commission. Last October the commission informed Westinghouse that it had to fix problems with the "shield building" which is supposed to protect the reactor from "severe weather and other events."
Comments
The money being wasted on Nuclear Power were invested into Solar, wind, wave, etc. we would break our addition to oil very quickly.
This all seems like political favors. Just goes to show all politicians are corrupt and self serving.
murraypetera
02/16/2010
Posts:2
40 years ago, I was a frequent visitor at Nuclear Fuel Services, a prototype reprocessing plant in West Valley, NY that was the biggest nuclear hazard I've ever seen - all due to human errors. Most nuclear sites have become superfund sites. Anybody doing an online search turns up multiple incidents here in the USA. Then there is Chernobyl...
But France has done well. Why?
I do have a suggestion. If we're going to spend all those $billions building a nuclear plant, why not go ahead and bury it a couple of thousand feet underground. When it's decommissioned, it will already be buried. During it's lifetime, it's not likely to affect anybody on the surface and it can be easily guarded from terrorists.
fiberman
02/17/2010
Posts:113
Or are you just blowing smoke here?
kstauff
02/17/2010
Posts:129
Want to quote statistics on the uptime of nuclear power plants? The actual costs of generating electricity? Success of plans to store nuclear waste? Why they are better than other potential alternative (to oil or gas) sources of energy?
I have been in industries selling to nuclear industries and R&D since 1968 and have acquaintances who have investigated accidents.
So spill the beans on your slant.
fiberman
02/17/2010
Posts:113
kstauff
02/17/2010
Posts:129
Predictable, dispatchable.
There is simply nothing like this in the "alternative" energy arena where everything costs more and has less reliability.
Dominion Virginia Power creates nuclear electricity at 1.4 cents/Kw-hr here in central VA.
Compare that to the going rate of Renewable Energy Credits in the Dominion PJM interconnect... which run $0.20-0.66 per KW-hr.
R Sweeney
02/18/2010
Posts:15
If we help finance any energy it should be able to be cheap clean and come on line in the near future. This is another demonstration of the bias of the current head of the DOE and the wrong direction of the O'bama administration.
Decentralized energy is beter than centralized production and distribution.
Eric
eric25001
02/16/2010
Posts:8
That doesn't sound like much compared to the billions for loan guarantees--but the loan guarantees aren't grants. As long as the power plants get built, even if the loans go into default, it's likely that the gov't will recover the greater part of this money. It has first rights to recovery, and nuclear power plants, even if electricity prices are low, will still bring in some money. (The worst case scenario is that they don't get built--that's in part why the guarantees are conditional.)
Kevin Bullis
02/17/2010
Posts:126
kstauff
02/17/2010
Posts:129
They get 80% of their power from nuclear sources. And they are the #1 tourist destination in the world, and also one of the biggest food exporters. If there was a radioactive hazard in France, none of these could happen.
Obviously, "clean nuclear" power is possible. The French have already done it.
gabrielg01
02/17/2010
Posts:485
and how do they differ from US designed plants ?!
bilbal
02/18/2010
Posts:1
quaheen
02/18/2010
Posts:1
The "waste" problem from current LWR is a political problem. Reactors such as the Molten Salt Reactor or Liquid Fluoride Thorium Reactor could reduce non fissile elements to 1/1000th the amount whose decay rates are also considerably faster, 300 years to background radiation level.
This technology isn't new and was thoroughly invested by ORNL up until the 70's. It's time to dig it up and make it commercially viable in small modular AIR cooled units!
Andrew
andrewjmcd
02/20/2010
Posts:1
We have no choice but to back nuclear power, and now. The left can't have it both ways. If we really do have global warmimg upon us, then nuclear power is the only feasible answer to a "clean" source of power that can keep up with our insatiable needs. Wishing for solar and other types of renewable power doesn't make it so! We have a very real problem now - so how about a dose of reality - and at least opening up a non-emotional dialogue, with verifiable and repeatable data, that will lead to a compromise and keep the electricity that makes civililzation possible flowing. Just imagine the consequences of shutting off all of the electricity in this country - really follow it through. We are talking of nothing less than the end of civilization as we know it.
Packman17
02/22/2010
Posts:4