Skip to main content

Ways Forward – Japan, Yucca Mountain, The Industry

The Japanese government has released its report on the Fukushima accident, with the start of a timeline of events, a categorization and presentation of lessons learned, and, I thought, a proposed transformation of its regulatory structure to something far more rigorous (and a lot more like that in this country.) But there’s a lot to absorb here. Take a read and we’ll return to it in the days ahead.

The report will be presented at IAEA’s Ministerial Conference on Nuclear Safety on June 20.

---

The US House Science Committee in a report on Wednesday blasted the Obama administration for terminating the long-planned Yucca Mountain national nuclear-waste repository with no scientific or technical justification.

The criticism is the latest to come from the Republican-led House, and is largely a reiteration of complaints heard from a House energy oversight committee last week.

That’s from Platts and they’re right – Congress has had a lot to say about Yucca Mountain lately. Here’s a bit from the executive summary to give you a sense of it:

The results of this review are striking. Despite numerous suggestions by political officials—including President Obama—that Yucca Mountain is unsafe for storing nuclear waste, the
Committee could not identify a single document to support such a claim. To the contrary, the Committee found great agreement among the scientific and technical experts responsible for
reviewing the suitability of Yucca Mountain—considered by many to be ―the most studied piece of land on Earth‖—that nuclear waste can be safely stored at the site for tens of thousands of years in accordance with Nuclear Regulatory Commission (NRC) requirements.

You can find the whole report here.

---

And the industry has unveiled its own response to events at Fukushima:

Three U.S. power-industry groups will set up a panel to run their own nuclear-nuclear-safety review as federal regulators probe Japan’s reactor crisis.

The Nuclear Energy Institute, the Electric Power Research Institute and the Institute of Nuclear Power Operations will unveil their plan today in Washington. About a dozen officials from the groups will serve on the “Fukushima steering committee,” said Tony Pietrangelo, the energy institute’s senior vice president and chief nuclear officer.

That happened a little earlier today. Here is a document, called The Way Forward, explaining this in more detail here. The plan outlines seven strategic goals and six guiding principles. Here are the first two of the goals:

1. The nuclear workforce remains focused on safety and operational excellence at all plants, particularly in light of the increased work that the response to the Fukushima event will represent.
2. Timelines for emergency response capability to ensure continued core cooling, containment integrity and spent fuel storage pool cooling are synchronized to preclude fuel damage following station blackout.

And the principles:

1. Ensure equipment and guidance, enhanced as appropriate, result in improvements in response effectiveness.
2. Address guidance, equipment and training to ensure long-term viability of safety improvements.
3. Develop response strategies that are performance-based, risk-informed and account for unique site characteristics.
4. Maintain a strong interface with federal regulators to ensure regulatory actions are consistent with safety significance and that compliance can be achieved in an efficient manner.
5. Coordinate with federal, state and local government and their emergency response organizations on industry actions to improve overall emergency response effectiveness.
6. Communicate aggressively the forthright approach the U.S. industry is taking to implement the lessons from the Fukushima Daiichi accident.

Read the whole thing. We’ll have more on this later.

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...