When 51 Percent Say Yes

From the department of unlikely mind changes, India division:

An anti-nuclear forum spearheading the stir against Koodankulam Nuclear Power Plant today said they would withdraw their protest if most locals favored the project and demanded that the state government constituted panel visit all villages and towns affected by KNPP.

NEI will close its doors as soon as a majority of Americans decide nuclear energy is not for them. The President will resign his position if his approval rating slips below 50 percent. My chance of surviving this disease is slightly less that 50/50. Time to reach for the bottle.

Sometimes, you gotta do what you gotta do. But it’s called the People's Movement Against Nuclear Energy for a reason. So even if what it will win will be a pyrrhic victory, with the taste of ashes on its tongue, I hope it doesn’t quit on the prospect of 51 percent going against its views. We wouldn’t. But it can make you think.

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So shrill you almost have to be a dog to hear it:

With the Nuclear Regulatory Commission (NRC) believed to be within days of announcing the final federal approval of the controversial Vogtle nuclear project, the Southern Alliance for Clean Energy (SACE) has asked a court to stop more than two years of stonewalling by Southern Co. and the U.S. Department of Energy (DOE), which are resisting any meaningful public disclosure to taxpayers of the risks to which they are exposed in the massive commitment of $8.33 billion in conditional federal loan guarantees to Southern Company and their utility partners for two proposed new nuclear reactors at Plant Vogtle in Georgia.

But really, they had me at controversial. How many more paragraphs does SACE have to go before Solyndra hits the mix? You guessed it: one. And SACE probably liked Solyndra.

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China will slow approvals of nuclear projects after the resumption, which is expected to take place this year, according to an industry expert from a national energy think tank.

Okay, I guess that makes sense.

"China will be cautious in pursuing nuclear power and is likely to approve only three or four projects each year,…" said Xiao Xinjian, a nuclear industry expert at the national Energy Research Institute, affiliated with the National Development and Reform Commission.

Oh. Wait, what?

The country had been accelerating its nuclear development since 2008, with 14 reactors approved in 2008 and six in 2009.

So there you are. It’s all relative. Wonder how SACE would take it.

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It can’t all be good news and snark, can it?

Albanian Prime Minister Sali Berisha recently announced that the government will postpone the construction of a nuclear power plant in the Shkoder region until issues regarding its potential impact on the environment and territory are fully resolved, AENews reported.

Albania is hesitating because the Shkoder region is seismically active. There may be surprises in the Japan lesson learned reports, but the accident there appears to have had the tsunami as its main cause, not the earthquake.

Regardless, if Albania chooses to proceed, and it would be smart to do so, it will be with enhanced safety in mind, and that’s never a bad thing. We expect at least 51 percent would agree.

Koodankulam nuclear facility.

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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