Skip to main content

Senator Clinton on Energy Policy

Senator Hillary Clinton gave a speech on energy policy at the National Press Club earlier this week, and in stark comparison to President Bush's speech on energy policy at Limerick yesterday, had little to say about nuclear energy:
Nuclear is now very much in the news as a potential power source because of its lack of contribution to global warming. If you look at nuclear energy, which currently provides 20 percent of our energy with virtually no emission of greenhouse gases, we do have to take a serious look, but there remain very serious questions about nuclear power and our ability to manage it in a world with suicidal terrorists.

So I have real concerns, specifically about a plant in my state near where I live, Indian Point, which has had a number of problems, and more generally with the capacity and quality of the oversight provided by the Nuclear Regulatory Commission.

So we need to resolve problems with the NRC, as well as questions of cost, safety, proliferation and waste, before we go forward with nuclear power.
Needless to say, we believe the industry has answers to many of these questions already. A good place to start would be a speech our CEO Skip Bowman gave at MIT earlier this year that directly addressed questions on safety, cost and waste. As for the industry's relationship with the NRC, a speech Skip gave at the agency's RIC conference in 2005 is a good place to start, while the keynote he gave at NEA 2006 also addresses several regulatory issues relating to the agency's future workload.

For a look at the security issue, be sure to read the testimony NEI Senior Vice President and Chief Nuclear Officer Marv Fertel submitted to the House Government Reform Subcommittee on National Security, Emerging Threats and International Relations.

Technorati tags: , , , , , ,

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...