Skip to main content

Senate EPW Committee Holds Yucca Oversight Hearing

The big news this afternoon is on Capitol Hill, where the Senate Environment and Public Works Committee is holding an oversight hearing on Yucca Mountain at 2:30 p.m. U.S. EST. Click here for a live stream of the hearing.

Meanwhile...
A federal judge has ordered the government to pay $34.9 million to the operator of two nuclear power plants in Alabama and Tennessee after the Energy Department failed to meet a 1998 deadline to dispose of their nuclear waste.

The ruling in favor of the Tennessee Valley Authority is the first one in which the department has been told to pay specific damages to a utility that is keeping highly radioactive spent fuel stored on-site while delays continue to hamper plans for a repository at Yucca Mountain in Nevada.

Utilities that run most of the nation's 103 nuclear plants and some that have been mothballed have filed 61 lawsuits seeking similar damages.

More later, if warranted.

Technorati tags: , , , , , , ,

Comments

Anonymous said…
Haha, government has to pay fines to government owned company TVA. I wonder what TVA will do with these profits? Maybe pay them to their owner, the government? :-D
Anonymous said…
There you go, making sense. Most elected officials in Nevada stopped making sense on this topic years ago.

This project has become a political third rail. Anyone with a hope of getting a party endorsement, democrat or republican, must oppose it, unconditionally.

That said, I doubt anyone in Nevada wants to turn off their lights and air conditioning for 2.4 hours every day-- which is the amount they get from nuclear-generated electricity.

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...