Pay now, get new nuke plants in distant future — maybe? | Citizen
Citizen
INDY Week columnist Bob Geary's Raleigh news & politics blog

Archives | RSS

Friday, March 11, 2011

Pay now, get new nuke plants in distant future — maybe?

Posted by on Fri, Mar 11, 2011 at 3:24 PM

nuclearjpg.jpg
Duke Energy and Progress Energy want to merge, and one reason is, neither can really afford to build a new nuclear plant(s) by itself. But if combining their financial power is the point of the merger, why is it that their current customers — not their shareholders, not their bankers — would be asked to finance, i.e., supply all the money in advance of construction and bear all the risk, said nuke plants?

[The day after, the threat of a meltdown in Japan tells us part of the answer.]

Peter Bradford, former member of the U.S. Nuclear Regulatory Commission, will be in Raleigh next week to testify in a Duke Energy rate case involving its proposed Lee reactor in South Carolina. I'll try to ask him that question. In the meantime, click here for a preview of his thinking on the need for new nukes.

The Duke case is in front of the N.C. Utilities Commission because, though the Lee reactor would be in SC, ratepayers in both states are being asked to kick in for it now.

Duke and Progress, meanwhile, are said to be circulating draft legislation at the General Assembly aimed at giving them virtually automatic rate increases in advance for future nuclear construction — no need for those pesky rate cases and testimony and such.

***


Anyway, it's only billions of dollars out of the customers' pockets for plants that may or may not get built. Here's the cartoon explanation of why this is a great idea for you and me, from the N.C. Conservation Network — funny, if not so true:

Tags: , , , , ,

Pin It

Comments

Subscribe to this thread:

Add a comment

INDY Week publishes all kinds of comments, but we don't publish everything.

  • Comments that are not contributing to the conversation will be removed.
  • Comments that include ad hominem attacks will also be removed.
  • Please do not copy and paste the full text of a press release.

Permitted HTML:
  • To create paragraphs in your comment, type <p> at the start of a paragraph and </p> at the end of each paragraph.
  • To create bold text, type <b>bolded text</b> (please note the closing tag, </b>).
  • To create italicized text, type <i>italicized text</i> (please note the closing tag, </i>).
  • Proper web addresses will automatically become links.

Latest in Citizen



Twitter Activity

Most Recent Comments

Trying to make some sense of the TPP. All you need to know it´s that while we are busy with …

by jsanchez on Fast-track trade for the TPP: David Price says — No. (With an *) Plus, an afternoon update … (Citizen)

If you or someone you know was forced out of the poker/sweepstakes business or lost their job, because this dirty …

by Constitution for games on Sweepstakes gambling on the way out in NC? (Citizen)

To those think it is addictive and a problem are the ones sounds like had the problems and not winning. …

by nickie on Sweepstakes gambling on the way out in NC? (Citizen)

You know...to those who dislike the gaming rooms..whether you have played in one or not...it is your chose to play …

by ThisWorld on Sweepstakes gambling on the way out in NC? (Citizen)

Of course you can't give airtime to fringe conspiracy theorists, flat earthers, etc! People who can take a voluntary blessing …

by Michael Czeiszperger on In Raleigh: Hitler used ovens, Obama will use hospice to kill people like me. (Citizen)

Comments

Trying to make some sense of the TPP. All you need to know it´s that while we are busy with …

by jsanchez on Fast-track trade for the TPP: David Price says — No. (With an *) Plus, an afternoon update … (Citizen)

If you or someone you know was forced out of the poker/sweepstakes business or lost their job, because this dirty …

by Constitution for games on Sweepstakes gambling on the way out in NC? (Citizen)

Most Read

No recently-read stories.

Visit the archives…

© 2016 Indy Week • 201 W. Main St., Suite 101, Durham, NC 27701 • phone 919-286-1972 • fax 919-286-4274
RSS Feeds | Powered by Foundation