Merrifield Won't Seek Third Term at NRC

Released by NRC very late last Friday afternoon:

Commissioner Jeffrey S. Merrifield, one of five members of the United States Nuclear Regulatory Commission, notified White House Chief of Staff Joshua Bolten on Friday that he would not be seeking a third term at the NRC. Commissioner Merrifield, a Republican, was first appointed by President Clinton to the NRC in October of 1998, and subsequently reappointed by President Bush in August of 2002.

Merrifield, whose term ends on June 30, 2007, informed Bolten that it was his intention to serve out the remainder of his term, but was notifying the President well in advance of his plans to leave the Commission to allow the Administration to have sufficient time to find a suitable replacement.

“It has been an honor to serve the nation as a Commissioner,” Merrifield commented. “NRC is an outstanding agency and I am proud to have served for over 8 years.” He also stated that it was a very difficult decision not to seek a third term but believes that the agency is strong and well prepared for the future. “Commissioner Merrifield has made extraordinary contributions to the work of the NRC and rendered exceptional service to the American people,” said NRC Chairman Dale Klein.

Technorati tags: Nuclear Energy, Nuclear Power, Energy, Technology, Electricity, NRC, Jeffrey S. Merrifield

Comments

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

Search This Blog