Blogroll Drive-By

This Week in Nuclear has a fascinating new interview (downloadable as a podcast) with engineer and writer Joseph Somsel, author of articles in The American Thinker and Energy Pulse. The discussion ranges over nuclear financial topics, touching on tax treatment of new generating stations, investment, transmission, and loan guarantees.

Capacity Factor has an interesting analysis of reports indicating successful integration of wind electric into the Spanish grid.

Reminder to lawyers, their fellow travelers, and news addicts that Utility News remains an excellent law blog and news digest that should reside near the top of your Favorites.

Pro-Nuclear Democrats collected and posted three videos well worth watching: Stewart Brand, Marv Fertel, and Per Peterson.

In Australia, Professor Brook at Brave New Climate covers yesterday’s announcements from the mother country; don’t miss his op-ed and the related news in the Adelaide Advertis

er. And if you’re puzzled about this month’s Scientific American cover story, Prof. Brook analyzes and deconstructs several specious bits including the most glaring one found in the subtitle, “How to get all energy from wind, water, and solar power by 2030.”

Final on today’s reading list, check out Energy Outlook’s three new must-read pieces on carbon debt, carbon counting, and cheap oil. Brief, cogent, and original.

And since it’s November, don’t forget to vote – David Walters at Daily Kos has eight ballot questions right on his main page.

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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...

NEI Nuclear Notes

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