Sat Jan 5, 2013, 01:24 PM
bananas (27,261 posts)
Nuclear industry's insurer running out of cash. All utilities--and ratepayers--could end up paying
Utilities nationwide could share the financial pain of the idled Crystal River nuclear plant
By Ivan Penn, Times Staff Writer
In Print: Sunday, December 30, 2012
The crippled Crystal River nuclear plant is now America's headache.
The bill to fix it and pay for replacement power may top $5 billion. The problem?
The company that insures all 104 U.S. nuclear power plants has just $3.6 billion on hand to pay for claims.
Broken nuclear plants in California, Texas and Michigan will vie for some of that money. But Crystal River alone represents such a financial threat that the insurance company, Nuclear Electric Insurance Ltd., may demand that its member utilities pony up more money.
THE NUCLEAR NEWSREEL
January 2, 2013:
Nuclear industry's insurer running out of cash. All utilities--and ratepayers--could end up paying for damaged Crystal River, FL reactor.
New Japanese govt wants "gradual" return to nuclear power. Public doesn't. Conflict ahead.
Catching up on the news: 10+ Japanese reactors have flawed fire prevention equipment. Just as in U.S.
Nuclear power plant flood risk: Sandy was just a warm-up. Lesson: Nukes don't work in a warming climate.
Yet another Japanese reactor site found to be sitting on top of an active fault line.
Despite "fiscal cliff," deficit, Congress set to give $150 million of your money to failing uranium enrichment company USEC.
Electricite de France to issue cost-cutting plan. We suggest it start by leaving the U.S.
World nuclear generation down 5% since 2006, likely to fall further.
70s redux: 2nd time is farce. Quality control documentation issues further delay Vogtle reactor construction.
Nation's Nuclear Plants Are Nuked. Small reactors can't compete. Bad news for SMRs, good news for U.S.
Solar/wind outpacing state renewable energy standard laws; yet right-wing wants to gut them. They must be expanded instead.
Backup power problems put two Swedish reactors on iceľand cast an unpleasant light on age.
NY Times interviews new Sen. Energy Comm. Ron Wyden (D-OR); new radwaste legislation likely. #nofukushimafreeways
NRC says Mitsubishi is botching San Onofre steam generator tests.
A year after cold shutdown at Fukushima declared, decommissioning process still termed "volatile."
Another one bites the dust: Spain's oldest reactor shuts down permanently.
Nuclear industry chief is sad that your tax dollars aren't being given to wealthy utilities fast enough.
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Response to bananas (Original post)
Sat Jan 5, 2013, 01:57 PM
Mopar151 (6,973 posts)
1. A Mitsubishi nuke plant ??????
Just a personal observation - there is something wrong with Mitsubishi's corporate culture, and it comes out in quality (both build and engineering) and "fair dealing" issues.
Response to bananas (Original post)
Sat Jan 5, 2013, 05:43 PM
ROBROX (392 posts)
2. I thought the money was for a NUCLEAR DISASTER???
Who knew the money could be used for repairs??
What engine runs for over 20 years and does NOT require repairs?? Radiation exposure is VERY damaging even to metals and people. The requirement for maintenance and repairs is elementary. The cost should be part of the of the PROFITS collected for the power. If the thing requires repair the profits will go down which is LOGICAL.
I do not think the PROFIT people should be given money is required to BAIL out the problem. Then the public problem is OWNED by PUBLIC because of the public money by definition. The FEd was given STOCK for their loan of public money. It is time that the public be protected and the private companies NOT be given free or super low interest money.