Skip to main content

RIC Followup

The NRC's 17th Annual Regulatory Information Conference wrapped up yesterday, and the Commission has posted the speeches from the two newest commissioners -- Greg Jaczko and Pete Lyons.

In his remarks, "Perspectives Upon Joining the Nuclear Regulatory Commission," Commissioner Lyons recalled a congressional hearing that dealt with future energy sources:

Oil and gas resources were not a part of this hearing. They simply are not sustainable on this time scale. While experts debate the longevity of these options, there is no debate that each is finite. Some suggest that the world may be at or near its peak oil production, even while we witness new oil demands from developing nations to add to the thirst in developed nations. And while natural gas is more abundant and its utility will extend further into the future, prices are likely to further escalate making it harder to justify use of that resource for electricity production.

The only three suitable energy resources identified in that Hearing were renewables, coal, and nuclear energy. For each source, there are major uncertainties, risks, and benefits in its future utilization, and these issues were discussed at the Hearing. Implicit in the Hearing was the view that the world is going to be so starved for energy that rejection of any one of these sources would seriously intensify the challenge of using only the remaining ones to sustain our economic health.


Commissioner Lyons continued:

But can nuclear power really contribute to our future energy needs? Certainly there will be many contributors to answering this question. Before the answer can be “Yes,” the Department of Energy must demonstrate continued strong support for nuclear energy. This must include funding to assist in certification of new designs and workforce training within our universities. Federal or state policies that limit carbon emissions may provide further impetus. Companies offering advanced reactor designs must provide high confidence that reactor construction costs are accurately known and competitive with other energy sources. Utilities must make concrete proposals for new construction. The financial community must weigh whether their own risks have been sufficiently well managed to provide capital. And, in my view, the public probably will also demand better solutions to proliferation issues associated with nuclear power and further progress on nuclear waste before new construction orders will be placed.

But even those events won’t bring about new construction unless the public has confidence in the strong regulatory oversight of safety provided by the Commission. That oversight must be translated into continued safe operations by the nuclear utilities and continued safe uses of radioactive sources.


Comissioner Jaczko's speech was entitled, "Guiding Principles: Culture, Transparency, and Communication." And it's clear he's got a sense of humor:

But before I go into detail about my approach to the job, there is an important issue I need to address. I would like to publicly express my deep disappointment with many of the newspaper articles written about me over the last few years as I was considered for nomination to the Commission. I was deeply disturbed by them, and I will tell you why. They never, ever, provided you with an accurate description of how to say my name. So, for the record, it is pronounced "Yatsko."


With that issue out of the way, Commissioner Jaczko turned to more serious pursuits:

Of course, when we regulate we have to consider both the theoretical and the practical. And so I would like to turn to a discussion of what I believe is a triangle of three interconnected guiding principles that provide the direction we need to effectively implement the NRC’s mission. The three segments of this triangle are:

1. Instilling a safety and security culture;
2. Transparency;
3. Communication.

These three principles are central to how I conduct myself, how I manage my office, and how I believe the agency functions as an effective, responsive, and efficient regulator.


Remember to bookmark the NRC 2005 Speech Archive, and click here for the complete RIC program with links to all of the presentations from the conference.

Comments

Popular posts from this blog

Fluor Invests in NuScale

You know, it’s kind of sad that no one is willing to invest in nuclear energy anymore. Wait, what? NuScale Power celebrated the news of its company-saving $30 million investment from Fluor Corp. Thursday morning with a press conference in Washington, D.C. Fluor is a design, engineering and construction company involved with some 20 plants in the 70s and 80s, but it has not held interest in a nuclear energy company until now. Fluor, which has deep roots in the nuclear industry, is betting big on small-scale nuclear energy with its NuScale investment. "It's become a serious contender in the last decade or so," John Hopkins, [Fluor’s group president in charge of new ventures], said. And that brings us to NuScale, which had run into some dark days – maybe not as dark as, say, Solyndra, but dire enough : Earlier this year, the Securities Exchange Commission filed an action against NuScale's lead investor, The Michael Kenwood Group. The firm "misap...

Wednesday Update

From NEI’s Japan micro-site: NRC, Industry Concur on Many Post-Fukushima Actions Industry/Regulatory/Political Issues • There is a “great deal of alignment” between the U.S. Nuclear Regulatory Commission and the industry on initial steps to take at America’s nuclear energy facilities in response to the nuclear accident in Japan, Charles Pardee, the chief operating officer of Exelon Generation Co., said at an agency briefing today. The briefing gave stakeholders an opportunity to discuss staff recommendations for near-term actions the agency may take at U.S. facilities. PowerPoint slides from the meeting are on the NRC website. • The International Atomic Energy Agency board has approved a plan that calls for inspectors to evaluate reactor safety at nuclear energy facilities every three years. Governments may opt out of having their country’s facilities inspected. Also approved were plans to maintain a rapid response team of experts ready to assist facility operators recoverin...

Nuclear Utility Moves Up in Credit Ratings, Bank is "Comfortable with Nuclear Strategy"

Some positive signs that nuclear utilities can continue to receive positive ratings even while they finance new nuclear plants for the first time in decades: Wells Fargo upgrades SCANA to Outperform from Market Perform Wells analyst says, "YTD, SCG shares have underperformed the Regulated Electrics (total return +2% vs. +9%). Shares trade at 11.3X our 10E EPS, a modest discount to the peer group median of 11.8X. We view the valuation as attractive given a comparatively constructive regulatory environment and potential for above-average long-term EPS growth prospects ... Comfortable with Nuclear Strategy. SCG plans to participate in the development of two regulated nuclear units at a cost of $6.3B, raising legitimate concerns regarding financing and construction. We have carefully considered the risks and are comfortable with SCG’s strategy based on a highly constructive political & regulatory environment, manageable financing needs stretched out over 10 years, strong partners...