Tag Archives: Southern Company

Centralized Nuclear Bad Investment?

A writer for Forbes spells out the question of nuclear investment: how can something that expensive, over-budget, late, and phenomenally risky be a good investment, especially when cheaper and faster energy sources are readily available?

Peter Kelly-Detwiler wrote for Forbes today, New Centralized Nuclear Plants: Still an Investment Worth Making?

Just a few years ago, the US nuclear renaissance seemed at hand. It probably shouldn’t have been. Cost overruns from Finland to France to the US were already becoming manifest, government guarantees were in doubt, and shale gas drillers were beginning to punch holes into the ground with abandon.

Then came Fukushima. The latter proved a somewhat astonishing reminder of forgotten lessons about nuclear power risks, unique to that technology: A failure of one power plant in an isolated location can create a contagion in countries far away, and even where somewhat different variants of that technology are in use. Just as Three Mile Island put the kaibosh on nuclear power in the US for decades, Fukushima appears to have done the same for Japan and Germany, at a minimum. It certainly did not help public opinion, and at a minimum, the effect of Fukushima will likely be to increase permitting and associated regulatory costs.

He goes into detail: they take too long (while gas and solar got cheaper), they’re extremely expensive to build and run, and they’re all-or-nothing investments.

I was going to compile this list of recent nuclear financial failures, but he saves us all the trouble:

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Vogtle reactor vessel sitting unprotected at Savannah port

What happened to Plant Vogtle’s new reactor vessel after it was in a train wreck a week ago? It went back to Savannah port and sits there unprotected and unguarded.

Thomas Clements wrote for the Aiken Leader 14 January 2013, Vogtle AP1000 Nuclear Reactor Vessel Discovered Unprotected, Stranded in Savannah Port since December 15 Shipment Failure,


Tom Clements, Alliance for Nuclear Accountability

The reactor pressure vessel (RPV) for the chronically delayed Vogtle AP1000 reactor construction project near Waynesboro, Georgia sits stranded and seemingly unprotected in the port of Savannah. The special railroad car carrying the 300-ton vessel had unknown mechanical problems on December 15 on exiting the port. The NRC has said that the vessel only got one-quarter mile before a sound was heard and the car stopped. Plans by Westinghouse and Southern Company to move the vessel are unknown. It is also unknown if the railroad car can be repaired and used or if the railroad company which owns the line is concerned that the rail car might break down again on its line in an in accessible place. Meanwhile, the apparently unguarded reactor might be subject to sabotage and sits in apparent violation of NRC quality assurance and “administrative control” regulations.

The article includes links to several more pictures taken 13 January 2013 by Tom Clements of Alliance for Nuclear Accountability, such as this one with the bridge clearly visible:

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The water is not lost. —Forrest H. Williams

Valdosta resident Forrest H. Williams replied in the VDT today to my op-ed of 6 January. His information seems a bit out of date. For example, he cites Progress Energy’s Crystal River nuke as a good example, when it’s been down since 2009 and is still producing zero percent power, both according to the NRC. Readers of this blog know that the blog version of my op-ed already links to sources for everything I said. I may respond more later, but no doubt there are other people who want to get involved in this discussion. And I do thank Forrest H. Williams for airing the sort of disinformation that is out there, so others can dispel it.

Oh, and saying water that is evaporated is not lost is like saying trees that are burned are not lost. Evaporated water is not available for agricultural or wildlife or drinking water use, and thus is indeed lost.

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Google invests in wind and solar

While Southern Company and Georgia Power pour money down that nuclear pit by the Savannah River and Progress Energy can’t afford to fix its Crystal River nuke, Google’s wind and solar projects are already online on time, all for less than the cost overruns so far at Vogtle or the fix-it price at Crystal River.

David Goldman wrote for CNN Money 10 January 2013, Google invests $200 million in Texas wind farm,

“We look for projects like Spinning Spur because, in addition to creating more renewable energy and strengthening the local economy, they also make for smart investments,” Kojo Ako-Asare, Google’s senior manager of corporate finance, said in a blog post.

Ako-Asare added that wind farms offer “attractive returns relative to the risks.”

Which is the opposite of nuclear’s huge risks relative to the apparently negative returns. So how much wind and solar energy does Google generate?

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Crystal River nuke still can’t get insurance payoff

Nobody wants to pay to fix Progress Energy's Crystal River nuke: not PGN, not its new owner Duke Energy, not Nuclear Electric Insurance Ltd. (NEIL). So maybe this nuke, only 160 miles from here, will be staying shut permanently? What say we do the same for the new nukes at Plant Vogtle, only 200 miles from here, before they even open?

John Downey wrote for the Charlotte Business Journal, Crystal River nuke plant stymies Duke Energy Utility facing penalties, high costs for repairs,

After two mediation sessions, Progress Energy Florida and its insurer haven't agreed how much of the potential repair costs for the utility's crippled Crystal River nuclear unit are covered.

It appears all but certain that Progress — a Duke Energy Corp. subsidiary — will have to pay millions of dollars as a penalty for failing to make a timely decision on whether to repair the plant.

Repair expenses have been calculated at between $1.5 billion and $3.4 billion, plus what it costs to buy power to replace what Crystal River would have produced while it is being repaired.

What kept shut Crystal River down from 2009 on was a concrete containment separation. Maybe those errors in pouring concrete at Plant Vogtle are Continue reading →

Help Sierra Club send a message to Georgia Power CEO Bowers

Georgia Sierra Club’s Beyond Coal campaign probably contributed to Georgia Power’s recent decision to shut down some coal plants. Now Sierra Club offers a petition to ask Georgia Power CEO Paul Bowers to go farther, and replace those coal plants with solar offshore wind power for jobs and health for Georgia.

Dirty Coal is Out, Help Usher Clean Energy In!

Georgia Power recently announced their plans to retire three of their oldest and dirtiest coal fired power plants. Now, we must send a clear message to Georgia Power’s leadership that we want to keep Georgia Jobs by investing in homegrown clean energy and energy efficiency to power our homes and businesses.

Send a message to Georgia Power CEO Paul Bowers telling him to replace dirty coal with investments in homegrown clean energy and energy efficiency that can produce thousands of lasting Georgia jobs.

It’s a petition; details here.

Seth Gunning explained why in Sierra Club PR:

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Putting conservation into conservatives —John S. Quarterman

My op-ed in the VDT today. -jsq

Gov. Deal (WABE, 14 Nov 2012) temporarily forgot that “conservative” includes conserving something, like Theodore Roosevelt and national parks, or when Franklin D. Roosevelt established the Okefenokee National Wildlife Refuge which also administers Banks Lake, when Richard Nixon started the EPA, and when Jimmy Carter signed the Soil and Water Conservation Act. If Gov. Deal wants to call conservation “liberal”, I’m happy to be a liberal working for water for our state!

Georgia Water Coalition’s Dirty Dozen

listed the biggest boondoggle of all as #11: the nuclear reactors at Plant Vogtle suck up more water from the Savannah River than all local agriculture and almost as much as the city of Savannah.

If the new Plant Vogtle nukes are ever completed, all four will use more water than Savannah. In 2009 the legislature approved and Gov. Deal signed a law letting Georgia Power charge its customers in advance for building that boondoggle, to the tune of about $1.5 billion so far!

Let’s not forget

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Carbon bubble? Solar and wind erode coal, gas, and biomass credit quality —Moody’s

In Europe it’s already happening: solar and wind are causing bond-rater Moody’s to warn of downgrades of energy companies that depend on heat from burning coal, gas, or biomass. Moody’s earlier even warned the Bank of England of a potential carbon bubble developing. If combustion energy plants are affected like this, the credit effects will be even bigger on even-more-expensive nuclear plants, which Moody’s called a bet-the-farm risk way back in 2009.

James Murray wrote for businessGreen 6 Nov 2012, Moody’s: Renewables boom poses credit risk for coal and gas power plants: Credit ratings agency warns increases in renewable power have had ‘a profound negative impact’ on the competitiveness of thermal generation companies,

“Large increases in renewables have had a profound negative impact on power prices and the competitiveness of thermal generation companies in Europe,” said Scott Phillips, an assistant vice president and analyst at Moody’s Infrastructure Finance Group, in a statement.

“What were once considered stable companies have seen their business models severely disrupted and we expect steadily rising levels of renewable energy output to further affect European utilities’ creditworthiness.”

And not just rising, rising increasingly Continue reading →

Florida Crystal River nuke down $5 billion?

Only 160 miles from here, the Crystal River nuclear reactor continues to run up a bad bill, maybe as much as $5 billion, and even other nuclear operators are reportedly starting to turn against it. Should we wait for the new nukes on the Savannah River to run up a bill that high before we cancel them?

Remember back in May?

Florida is already experiencing a likely future for the new Plant Vogtle nukes in Georgia: completion date pushed back, and customer charges raised.

Yep, that’s the one. And the bill keeps going up, as Ivan Penn wrote for the Tampa Bay Times 30 December 2012, Utilities nationwide could share the financial pain of the idled Crystal River nuclear plant,

The crippled Crystal River nuclear plant is now America’s headache.

The bill to fix it and pay for replacement power may top $5 billion. The problem?

The company that insures all 104 U.S. nuclear power plants has just $3.6 billion on hand to pay for claims.

Broken nuclear plants in California, Texas and Michigan will vie for some of that money. But Crystal River alone represents such a financial threat that the insurance company, Nuclear Electric Insurance Ltd., may demand that its member utilities pony up more money.

Is NEIL the guarantor on the bonds for the new nukes at Plant Vogtle? I think Southern Company was smarter (for SO, not for us) and got Congress to guarantee those. If so, Continue reading →

Solar cars and charging stations: who wouldn’t?

Tired of Southern Company CEO Fanning’s maybe “next decade” for solar power? Tired of Georgia Power’s Bowers trying to push solar off for fifty years? Let’s hear from somebody who takes on big tasks and gets them done: Elon Musk, who’s already built a rocket that is resupplying the International Space Station, and who is also building all-electric cars.

Carl Hoffman wrote for Smithsonian magazine December 2012, Elon Musk, the Rocket Man With a Sweet Ride

When he’s not launching rockets, Musk is disrupting the notoriously obdurate automobile industry (see National Treasure, p. 42). While industry giants like Chevrolet and Nissan and Toyota were dithering with electric-gasoline hybrids, this upstart kid said he would design and manufacture an all-electric car that would travel hundreds of miles on a single charge. The Tesla Roadster hit the streets in 2008 with a range of 200 miles, and the far more functional Model S, starting at $57,000, was introduced in June. It’s the world’s first all-electric car that does everything my old gasoline version does, only better. The high-end model travels 300 miles on a single charge, leaps from zero to 60 in 5.5 seconds, slows from 60 to a dead stop in 105 feet, can seat up to five, has room for mulch bags and golf clubs, handles like a race car and its battery comes with an eight-year, 100,000-mile warranty. If you charged it via solar panels, it would run off the sun. One hundred a week are being produced in a former Toyota factory in Fremont, California, and nearly 13,000 people have put deposits on them….

And since that story: Continue reading →