Tag Archives: Georgia Power

Groundwater wall at Fukushima

Same design as Plant Hatch, which is leaking radioactive tritium into our groundwater. And when contamination gets into the watershed it doesn’t go away; there’s not even an ocean at Hatch or Vogtle for it to disperse into.

Tsuyoshi Inajima and Yuji Okada wrote for Bloomberg News today, Japan Orders Tepco to Build Underground Wall at Fukushima Plant

The Japanese government ordered Tokyo Electric Power Co. to build an underground wall at the crippled Fukushima nuclear plant to prevent groundwater from flowing into basements of reactor buildings.

The government plans to set up a task force with Tokyo Electric, construction companies and plant makers by the end of June to discuss the details, Minister of Economy, Trade and Industry Toshimitsu Motegi said today in Tokyo. He made the remarks at a meeting with Naomi Hirose, the utility’s president, which was open to reporters.

Tepco has struggled Continue reading →

Privatize TVA? Southern Company would like that

The hydropower assets of the Tennessee Valley Authority would give Southern Company a way to avoid doing distributed solar for a while. Will SO CEO Tom Fanning and Georgia Power CEO Paul Bowers bit the bullet and go straight for distributed solar instead of helping Duke privatize TVA for a short-term stopgap that would set both of them farther behind the disruptive solar curve?

SolarCity and Southern Company stock
Blue line: SCTY; red line: SO, chart by Google Finance.
May 16th: Goldman Sachs invested $500 million in SCTY.
May 22nd: SO stockholder meeting.
May 24th: S&P downgrades SO.

Wes Patoka wrote for Motley Fool 24 May 2013, Who Benefits the Most if the TVA Is Privatized,

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SolarCity disrupting utilities in Massachusetts; how about Georgia?

Why is great big Southern Company afraid of tiny SolarCity? Look at these 2.6KW of solar panels on a house in Bedford, Massachusetts. Think about much more sun in Georgia, financed by Google and Goldman Sachs, turning into votes for solar power. Big coal and nuclear boondoggles already don’t look so attractive anymore to investors.

By Giles Parkinson wrote for Reneweconomy on 9 October 2012, SolarCity’s big challenge: Prove that energy bills can fall,

A 2.6kW SolarCity installation in Bedford, Massachusetts SolarCity sees the traditional utilities as their biggest competition. “We compete with them on price, predictability of price and the ease by which customers can switch to electricity generated by solar systems,” it says.

“We have disrupted the industry status quo by providing renewable energy directly to customers for less than they are currently paying for utility-generated energy. Unlike utilities, we sell energy with a predictable cost structure that does not rely on limited fossil fuels and is insulated from rising retail electricity prices. As retail prices for electricity increase and distributed solar energy costs decline, our market opportunity will grow exponentially.”

Bloomberg New Energy Finance analyst Anthony Kim said the SolarCity filing could be a “game-changing moment for the solar industry” because it shows “how plummeting component costs benefit a company operating on the downstream side of the solar business.”

That article was posted before SolarCity’s stock went public, and before Goldman Sachs invested half a billion dollars in SolarCity. Six months later, we know Southern Company and Georgia Power are paying attention, because both SO CEO Tom Fanning and Georgia Power CEO Paul Bowers said so at the Southern Company stockholder meeting.

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Kemper Coal Crashes Southern Company Rating and Stock Price

Standard & Poor’s lowered Southern Company’s rating from stable to negative because of the risks of Kemper Coal in Mississippi, and SO’s stock price plummetted. This was immediately after activists grilled SO on that and other topics at the SO stockholder meeting. Wait ’till S&P catches on to the risks of SO’s 19-months-late and $1 billion-over-budget nukes at Plant Vogtle in Georgia! Or SO’s non-action so far on the challenge of distributed solar.

Kristin Jones wrote for WSJ 24 May 2013, S&P Lowers Outlook on Southern Co., Noting Project Risks,

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Video of Southern Company shareholders meeting @ SO 2013-05-22

Here’s Southern Company’s own video of the 22 May 2013 shareholders meeting. More detail will follow on the record number of questions, and CEO Tom Fanning’s answers, in addition to this one already posted.

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UK biomass plant exploded from Waycross wood pellets

Explosions in Tilbury, England, explosions in Waycross: south Georgia wood pellet dust blowing up here and there and producing CO2 when burned there. Why is “the world’s largest wood pellet plant” a better use of Georgia foresters’ resources than solar farms, which don’t pollute and don’t explode?

Josh Schlossberg wrote for The Biomass Monitor 24 May 2013, Biomass Industry Plays With Fire, Gets Burned,

A massive fire raged inside wood pellet silos for RWE’s Tilbury Power Station in Essex, UK, on February 27, 2012. The biomass incinerator—the largest in the world at 750 megawatts—had just been converted from coal to woody biomass a month earlier. RWE claims no single cause can be attributed to the fire, but suspects that smoldering wood pellets triggered the dust fire.

In a recent editorial (apparently not online), Robert Farris Executive Director of the Georgia Forestry Commission, wrote that Georgia has nine wood pellet plants. He didn’t name them, but Biomass Magazine has a list of U.S. wood pellet plants, including these in Georgia (I added the City column): Continue reading →

Owners want out of uranium enrichment company

Maybe Southern Company and Georgia Power should listen to Urenco’s owners: the nuclear industry is flatlining after Fukushima.

Stanley Reed wrote for Dealbook.Nytimes.com 27 May 2013, Powerhouse of the Uranium Enrichment Industry Seeks an Exit,

The company that operates this uranium enrichment center, Urenco, is the world leader in the field. It is also plumply profitable. So why are its owners eager to sell it?

The answer, as with many things involving nuclear power, is a combination of economics, geopolitics and the Promethean prospect of an energy source that is as potentially green and abundant as deadly dangerous….

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China carbon cap and Georgia Power

If China implements a carbon tax, will Georgia Power CEO Paul Bowers change his recent answer to a question about a carbon tax, which was “why would anyone want that?”

Paul Bowers speaking In February the Chinese Ministry of Finance (MoF) said China would soon tax carbon dioxide (CO2) emissions, and that’s getting closer in the country whose capital Beijing has smog bad it’s literally off the charts. Katie Valentine wrote for ThinkProgress 22 May 2013, Bombshell: China May Be Close To Implementing A Cap On Carbon Pollution,

China is taking steps to tackle its huge carbon output. Today, the country announced the details of its first carbon trading program, which will begin in the city of Shenzhen next month. The southern city is one of seven cities and provinces, including Beijing, which will take part in the pilot program, set to be completely implemented by 2014.

And according to one local news source, China could implement an absolute, nation-wide cap on its carbon emissions by 2016. China’s 21st Century Business Herald reported this week that the country’s State Council still needs to approve the carbon cap proposal submitted by the National Development and Reform Commission, a government entity that controls much of the Chinese economy. The proposal, which the State Council is reportedly likely to support, would ensure China’s emissions would not increase past the country’s target cap, regardless of economic growth — though it’s still unclear what that cap would be. The paper reported that the NDRC also predicts China’s greenhouse gas emissions will peak in 2025, rather than 2030, as earlier predictions stated.

If the cap is adopted,

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Profits also link Vogtle nukes and Kemper coal

Southern Company gets substantial profits from utility customers paying in advance for “clean coal” in Kemper County, MS and for new nukes at Plant Vogtle on the Savannah River in Georgia. As long as SO can keep raking in those profits, it has incentive not to get on with distributed solar power.

Kristi E. Swartz wrote for the AJC 27 July 2011, Southern Co.’s profits up on nuke finance fees,

A fee added to Georgia Power bills to help finance a planned nuclear plant expansion also helped parent Southern Co. post an 18 percent profit gain in the second quarter.

The $3.73 monthly fee offsets financing costs for two proposed nuclear reactors at Plant Vogtle.

Atlanta-based Southern cited it as one of the factors lifting net income to $603.3 million, or 71 cents a share, in the April-June quarter compared with $510.2 million, or 62 cents a share a year earlier. Profits were also helped by a hot early summer, the company said.

Back then SO CEO Tom Fanning said,

“The whole issue is to preserve schedule and costs,” Fanning said.
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Kemper Coal: SO’s bitter pill @ SO 2013-05-22

“Corporate responsiblity,” answered Southern Company CEO Thomas A. Fanning to questions about Kemper Coal from Linda St. Martin of Mississippians For Affordable Energy. I don’t think that word means what he thinks it means.

Ray Henry wrote for AP yesterday, Southern Co. CEO defends Miss. power project,

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