Credit: Trena/Blogspot
Nuclear Construction: Never On Time, Or Budget
http://breakingenergy.com/2014/08/15/nuclear-construction-never-on-time-or-budget/
The Great Unknown in Nuclear: Cost
“While the nuclear industry ... it must also grapple with one of its chronic problems – namely, cost.”
“Lucas Davis, a professor at the Haas School of Business at UC Berkeley ... The budget for nuclear plants – historically speaking – exceed expectations & completing the plants often takes longer than expected. Davis, in fact, said he couldn't even think of one project that has come in on time &/or under budget.”
https://www.greentechmedia.com/articles/read/the-great-unknown-in-nuclear-cost
A decade late, way over budget – yep, that's nuclear power
“A new nuclear power plant in the UK is already facing budget blowouts & massive delays – before any work has even started on it.”
https://www.crikey.com.au/2016/07/15/nuclear-power-plant-cost-in-france-british/
Vogtle: at $65 billion & counting, it’s a case study of nuclear power’s staggeringly awful economics
“Sane people do not let projects get 800% over budget. Unless, perhaps, if someone else is putting up the money. And that’s exactly what happened with the first two Vogtle reactors – the overruns were pushed on to ratepayers; Georgia Power had to eat some small portion of them, but basically ratepayers were forced to pick up the tab.”
“When the project was announced, & when the utilities building the project first applied for taxpayer loans to help finance the project, Southern Company (Georgia Power’s parent) said the two reactors would cost about $14 billion & would be online in 2016 & 2017.
That was back around 2008. Vogtle got its taxpayer loan promise in February 2010 & its construction permit in February 2012. Three & a half years later, Vogtle is more than three years behind schedule – 39 months behind, in fact.”
“And the cost of building Vogtle has, not surprisingly, gone up. Way up. Right now, it’s somewhere around $16 billion & rising fast – the over-budget portion caused by the delays alone is $2 million per day. And ... construction still has quite a long way to go.”
https://safeenergy.org/2015/08/03/vogtle-at-65-billion-and-counting/
Does Nuclear Power Have a Future in America?
“Over in Tennessee, the Watts Bar project hit its own speed bumps. Initially slated to open in 2014, the project is now two years behind schedule. TVA has also admitted the project would cost at least $1.5 billion more than anticipated — a 60 percent overrun on its $2.5 billion budget. And that doesn’t include the $1.7 billion the company spent in the 1970s & ’80s.”
https://www.nrdc.org/onearth/does-nuclear-power-have-future-america / Vogtle $65 billion case study nuclear power staggeringly awful economics Georgia state wary of nuclear power economics first two reactors Georgia Power Vogtle site came online late 1980s record 800% over budget number almost impossible to grasp nothing goes 800% over budget in the real world projects get cancelled well before reaching that point 800% over budget can’t afford project 800% over budget business can’t businesses improvements start creep up from the budget whole project gets the kibosh sane people do not let projects get 800% over budget unless someone else is putting up the money first two Vogtle reactors overruns ratepayers Georgia Power ratepayers were forced to pick up the tab case of history repeating itself as predicted farce two Vogtle reactors under construction now project announced utilities building project first applied for taxpayer loans help finance project Southern Company Georgia Power two reactors cost $14 billion online 2016 and 2017 Vogtle taxpayer loan promise construction permit Vogtle more than three years behind schedule cost of building Vogtle gone up around $16 billion rising fast over-budget delays alone $2 million per day construction still has quite a long way to go Georgia Power already has run through half federal loan money paid for by all U.S. taxpayers Georgia ratepayers taxpayer loan loans totaled more than $8 billion point getting the loan charging ratepayers for construction costs as they are incurred concept called Construction Work in Progress barred in most states building the reactors save ratepayers money Southern Company building Vogtle overruns and delays save ratepayers $3 billion compared to building gas-powered plant would already be operational Vogtle utility’s utility don’t add up former Georgia Public Service Commissioner Bobby Baker total current benefit to ratepayers calculated utility-supplied figures $208 million reactors online in time receive federal production tax credits Vogtle-4 probably isn’t going to make it Vogtle-3 more delays force the utility concentrate Vogtle-3 make Vogtle-4 even later cost even more not meeting the deadline negative benefit neither reactor makes the deadline negative benefits costs rising at the rate of $2 million/day negative benefits larger still reactors gets cancelled before operation negative benefits grow even more cancellation too much more money is spent cancellation net benefit ratepayers avoiding costs incurred Georgia Power lot of money that already been spent wasted ratepayers Vogtle-3 and -4 800% overrun Georgia ratepayers modular construction concept Southern Company keep costs down prevent overruns utilities Vogtle project approved for a construction license close to budget close to schedule nuclear renaissance Vogtle benefit CWIP federal loans utility build a reactor economics nuclear construction are just too staggeringly awful it gets worse former PSC Commissioner Baker total lifetime cost of Vogtle including construction estimated $65 billion staggering kilowatt/hour price Vogtle’s electricity real cost how well Vogtle runs once it’s built not a safe assumption $65 billion number doesn’t include decommissioning radioactive waste disposal costs ratepayers’ bills taxpayers amount collected proves to be too small the case with every other reactor in the country utilities across the country Georgia Power buying solar power for 5 cents kilowatt/hour unlike Vogtle where the costs keep rising solar’s price keeps falling Georgia ratepayers Georgia PSC prevent any more cost overruns passed on to them hope Georgia Power other smaller utilities actually repay their taxpayer loan everyone involved will come to their senses end the project now, before it gets any worse /
