The NEI Morning Clip File

Here are some of the news clips we're reading at NEI this morning. In the wake of the nuclear energy industry's recent congressional victory, SignOnSanDiego.com says that nuclear energy is finally poised for a comeback:

Nestled in the energy bill that Congress approved last week is perhaps the most tangible evidence yet that nuclear power, long shunned by many as a dangerous energy source, is on the verge of a comeback.

The broad energy plan includes billions of federal dollars to jump-start production of nuclear reactors. The incentives, from tax breaks to loan guarantees, come at a time when soaring oil prices and increasing public concern about global warming have forced even some leading environmentalists to rethink their opposition to nuclear power as a cleaner, cheaper alternative to traditional fossil fuels.

"Nuclear (power), in combination with renewables, is the only source of electrical energy that can replace coal and gas to a significant degree," said Greenpeace co-founder Patrick Moore, now chairman of Greenspirit Strategies of Canada, which helps companies develop environmentally friendly policies.

Should the government incentives prove enticing, the nation's utilities are poised to order their first reactors since the 1970s.

"We need a lot more electricity in this country in the decades ahead," said Steve Kerekes, spokesman for the Nuclear Energy Institute, a trade group for nuclear utilities. "Nuclear (power) is not by itself the answer, but it's part of that diversity of (sources) that will fill the gap."

In a recent interview, Patrick Moore repeated his call for expanded use of nuclear energy:

"Today, we have 6 billion people who need food, fuel and material every day, and we need to find a way to provide them.

"With the exception of Chernobyl, which for design reasons was an accident waiting to happen, we have a good record with nuclear power. It’s even safer than coal, when you consider people who die in coal mines. Three Mile Island contained radiation in an accident about as serious as it could get. It was a success, but scary. “The China Syndrome” just came out, and we thought we were all going to die. In the end, no harm was done. We have 441 reactors operating as we speak, and all have good safety records. Chernobyl is the exception that proves the rule.

..."Coal-fired plants emit a great deal of air pollution. They are improved but still a burden. They also release a great deal of carbon dioxide, which I don’t view as pollution, since it is plant food. But CO2 is thought to be part of the global warming trend, so it’s prudent not to increase it.

"Also, we need to preserve valuable non-renewable resources like coal, oil, and gas — not just for energy, but for other things we can use them for, like making plastics. It’s a shame we are burning them all up. Uranium, on the other hand, has no known use other than energy production.

On the international front, Armenia now plans to build new nuclear power plants:

The government of Armenia believes the construction of new nuclear power units is a strategic goal to maintain and enhance the republic's energy security and independence, Armenian Prime Minister Andranik Markaryan said Friday.

Markaryan held a meeting with chief of the International Atomic Energy Agency (IAEA) Muhammad El-Baradei who is currently visiting Yerevan.

El-Baradei said the IAEA could assist Armenia in conducting feasibility studies for the construction of a new nuclear power station.

The IAEA chief said that Armenia had made significant progress in enhancing the safety of the country's nuclear power station but much had yet to be done. He suggested the drafting of a systematized plan with an outline of the project's timeframe and financial breakdown to simplify creditors' efforts.

Markaryan said Armenia was committed to using nuclear energy for peaceful purposes only and pursuing a nuclear non-proliferation policy.

Come back this afternoon for more news from the NEI Clip File.

Technorati tags: Nuclear Energy, Environment, Energy, Politics, Technology, Economics

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...

Activists' Claims Distort Facts about Advanced Reactor Design

Below is from our rapid response team . Yesterday, regional anti-nuclear organizations asked federal nuclear energy regulators to launch an investigation into what it claims are “newly identified flaws” in Westinghouse’s advanced reactor design, the AP1000. During a teleconference releasing a report on the subject, participants urged the Nuclear Regulatory Commission to suspend license reviews of proposed AP1000 reactors. In its news release, even the groups making these allegations provide conflicting information on its findings. In one instance, the groups cite “dozens of corrosion holes” at reactor vessels and in another says that eight holes have been documented. In all cases, there is another containment mechanism that would provide a barrier to radiation release. Below, we examine why these claims are unwarranted and why the AP1000 design certification process should continue as designated by the NRC. Myth: In the AP1000 reactor design, the gap between the shield bu...

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...

NEI Nuclear Notes

Search This Blog