Tuesday, August 1, 2017

Nuclear Power Costs SOAR and Kill New U.S. Plant Projects

Today, the Wall Street Journal reports a decision by utility Scana Corp. to abandon construction of the V.C. Summer Nuclear Station. It was one of only two projects under construction in the U.S., the other similar one being owned by Southern Company and now under review for a new "cost to complete" calculation.

The V.C. Summer plant was initially supposed to cost $11 BILLION DOLLARS, when proposed in 2008. 

That estimate had gone to $15 BILLION DOLLARS as of this year. 

Now, after it drove Westinghouse into bankruptcy, the cost is estimated at OVER $25 BILLION DOLLARS.  227% of the original cost.

And, with a track record like that, who knows how much it would actually cost by the time it started generating power.

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