“The Only Reason Nuclear Is Attractive”

Sen. Dianne Feinstein said she might run for another term next year, but for our purposes, this stands out from a recent interview:

And here's her lengthier discussion on the safety of nuclear power in the wake of the recent killer Japanese earthquakes. Feinstein said while she believes nuclear energy can be a safe form of power, "we have to be eternally vigilant'' on safety issues.

Feinstein said "there has to be longterm storage'' for nuclear waste, and said that "I think there ought to be regional waste storage sites."

Regional waste storage sites is an idea we’ll be hearing more about in the coming months – I expect a House hearing I’m covering later this week will discuss them – and it’ll be interesting to the hear the various views about them.

Video at the link.

---

Almost a month after Fukushima Daiichi, the Washington Post has weighed in again on nuclear energy. After noting that public support as reflected in polls has waned but not fallen off a cliff and that policymakers have not turned tail, the Post concludes:

The only reason nuclear is attractive, some insist, is concern over global warming. Yet, even if that is the only cause, it is compelling. As of now there is no other proven, scalable low-carbon source of electricity that produces the reliable, “always on” power that utilities require. America may never get as much of its electricity from nuclear plants as France, which generates 80 percent of its power that way. But if it is serious about cutting carbon emissions, the United States should keep nuclear on the table.

“The only reason.” People tend to forget, because the recession has lingered so long, that the demand for electricity had been rising steadily. And I think it’s fair to say, will rise again – in the U.S., of course, but throughout the world as well. Nuclear energy not only produces a lot of energy in a relatively packed space but also can also encourage energy security.

But we know all that. What the Post knows is that emission free base load energy is something one tosses aside with considerable hesitation. Although it isn’t the bravest show of support imaginable, it’s fair enough.

Sen. Dianne Feinstein

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...

What Happens During a Refueling Outage?

You may have noticed over the past few weeks that a number of nuclear plants are shut down for refueling outages or are resuming operations after just returning from one. This type of routine outage usually occurs in the spring or fall when electricity demand is low so that nuclear reactors can replace about one-third of the spent fuel rods with new fuel and conduct other routine maintenance and repairs at the plant. To get a better sense of how refueling works at a nuclear energy facility, I spoke with Marcus Nichol, NEI’s senior project manager for used fuel storage and transportation, and asked him to explain the basics. Why does a nuclear plant need to replace one-third of its fuel? Nichol: The main purpose of a refueling outage is to replace older fuel that is depleted—meaning it can no longer efficiently produce energy from nuclear fission reactions—with new fuel. This “used fuel” has typically been used in the reactor for four-and-a-half to six years before it is pe...

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