Skip to main content

Monday Update

From NEI’s Japan micro-site:

Japan’s Government to Pay for Cleanup of Lower Levels of Contamination

October 3, 2011

Industry/Regulatory/Political Issues

  • Goshi Hosono, Japan’s cabinet minister for nuclear crisis management, told the governor of Fukushima prefecture that the government would provide financial and technical assistance to clean up radioactive contamination in towns where radiation levels are between 100 and 500 millirem per year. Prior to Hosono’s statement, it was not clear whether towns with those levels of contamination would have to pay for their own decontamination.
  • A Japanese government advisory panel is to report to Prime Minister Yoshihiko Noda today on the financial condition of Tokyo Electric Power Co., with a view to the company’s ability to pay compensation claims to people affected by the Fukushima Daiichi accident. The report is expected to ask TEPCO to consider cutting its costs before it raises utility fees. The panel also notes that the company‘s financial viability will remain difficult unless its other nuclear energy facilities restart. The government is expected to provide financial assistance to the company, in which case it will be required to follow the government’s restructuring plan.

Media Highlights

  • The Japanese government has found extremely small quantities of plutonium as far as 28 miles from the Fukushima nuclear facility, UPI reports. The government recommends that decontamination efforts concentrate on radioactive cesium instead.
  • Reuters notes that with last month’s shutdown of two more Japanese nuclear reactors for inspection, there are now only 11 operating nuclear facilities in the country, bringing Japan down to 20 percent of its pre-Fukushima nuclear generating capacity.
  • The Fukushima prefectural government’s detailed radiation health survey of all 2 million-plus residents of the prefecture is discussed in an article by the National Institutes of Health. Researchers plan to combine activity logs for each resident with maps plotting daily radiation levels to estimate the external radiation dose each person may have received in the first four months after the March 11 accident.

Upcoming Events

  • Exelon Generation Co. Chief Operating Officer Charles Pardee will brief the U.S. Energy Association’s energy supply forum Oct. 4 on safety and preparedness issues at America’s nuclear energy facilities.
  • U.S. Nuclear Regulatory Commission Chairman Gregory Jaczko will speak at a National Journal event Oct. 5 on the global implications of the Japan nuclear accident.
  • The NRC commissioners will be briefed in a public meeting Oct. 11 on prioritization of long-term recommendations from its Japan task force. The briefing will be webcast

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...