Skip to main content

Giving credit to the Antis

It was a cold day in February, 2005, during the NRC public meeting for North Anna's Early Site Permit.

One antinuclear sage in attendance had the proverbial "good news" and "bad news" for the shareholders of Dominion. The good news was that the Dominion would never build a new nuclear power plant at North Anna, the bad news was that it was going to cost the shareholders a lot of money in the process. Another antinuclear prognosticator added,

"Dominion does not even know the reactor design it wants to build. Why? Because the minute they mention that they have a reactor design, Wall Street will think it's an intent to construct, and they will short your stock."

And, as if these antis were descended from old Nostradamus himself, a strange thing happened today, November 20, 2007. Just take a gander at this headline:

Dominion Hails Approval of Early Site Permit for North Anna Power Station

And sure enough, as I write this, Dominion shares (NYSE: D) are trading at about $46 dollars per share, when yesterday they were trading in the low $90s.

Coincidence?

Thankfully, Dominion gave everyone two shares for every one they had before to offset this change in stock price. Who would have known these two events would happen on the same day? Was this a strange coincidence or are we witnessing a miracle?

Thanks to Delbert Horn for pointing out this sagely wisdom of antis. He also adds the following information:

Dominion Stock price on 2/17/05: $72.01
(date of predictions made at NRC public meeting)

Stock Price on 10/17/07: $89.19
(Announcement date of GE large parts order)

Stock price on 11/19/07: $91.03

Stock price on 11/20/07: $46.03
(Day of stock split and ESP approval)

Comments

Ruth Sponsler said…
Fissioning stocks! Wish I'd had my Bets On visions of fissioning Dom Pwr stock!
Anonymous said…
Dominion announced their reactor design at the point of large GE part order.

Not much change in stock price occurred. I.e.; the Anti's were wrong...

Stock split and the stock value was cut almost in half. Is anyone surprised by that?

The fact that the NRC announced the ESP on the same day as the stock split was coincidence.
bryfry said…
My own take on this is published here.

Please feel free to stop by and comment.

Thanks Mike.
Michael Stuart said…
bryfry, thanks for the support!

I tried to comment, but it looks like the discussion was closed.

And, I had some exciting news to share with ya. Don't be surprised if you see some interesting Dominion news on Wednesday, November 28...
Michael Stuart said…
Anonymous,

À certains, le sarcasme est plutôt comme une langue étrangère.

Popular posts from this blog

Making Clouds for a Living

Donell Banks works at Southern Nuclear’s Plant Vogtle units 3 and 4 as a shift supervisor in Operations, but is in the process of transitioning to his newly appointed role as the daily work controls manager. He has been in the nuclear energy industry for about 11 years.

I love what I do because I have the unique opportunity to help shape the direction and influence the culture for the future of nuclear power in the United States. Every single day presents a new challenge, but I wouldn't have it any other way. As a shift supervisor, I was primarily responsible for managing the development of procedures and programs to support operation of the first new nuclear units in the United States in more than 30 years. As the daily work controls manager, I will be responsible for oversight of the execution and scheduling of daily work to ensure organizational readiness to operate the new units.

I envision a nuclear energy industry that leverages the technology of today to improve efficiency…

Nuclear: Energy for All Political Seasons

The electoral college will soon confirm a surprise election result, Donald Trump. However, in the electricity world, there are fewer surprises – physics and economics will continue to apply, and Republicans and Democrats are going to find a lot to like about nuclear energy over the next four years.

In a Trump administration, the carbon conversation is going to be less prominent. But the nuclear value proposition is still there. We bring steady jobs to rural areas, including in the Rust Belt, which put Donald Trump in office. Nuclear plants keep the surrounding communities vibrant.

We hold down electricity costs for the whole economy. We provide energy diversity, reducing the risk of disruption. We are a critical part of America’s industrial infrastructure, and the importance of infrastructure is something that President-Elect Trump has stressed.

One of our infrastructure challenges is natural gas pipelines, which have gotten more congested as extremely low gas prices have pulled m…

Innovation Fuels the Nuclear Legacy: Southern Nuclear Employees Share Their Stories

Blake Bolt and Sharimar Colon are excited about nuclear energy. Each works at Southern Nuclear Co. and sees firsthand how their ingenuity powers the nation’s largest supply of clean energy. For Powered by Our People, they shared their stories of advocacy, innovation in the workplace and efforts to promote efficiency. Their passion for nuclear energy casts a bright future for the industry.

Blake Bolt has worked in the nuclear industry for six years and is currently the work week manager at Hatch Nuclear Plant in Georgia. He takes pride in an industry he might one day pass on to his children.

What is your job and why do you enjoy doing it?
As a Work Week Manager at Plant Hatch, my primary responsibility is to ensure nuclear safety and manage the risk associated with work by planning, scheduling, preparing and executing work to maximize the availability and reliability of station equipment and systems. I love my job because it enables me to work directly with every department on the plant…