New Report out on Financial Risks of New Nuclear Power Plants

This report from Synapse Energy Economics, Inc.  just came out :

Big Risks, Better Alternatives

An Examination of Two Nuclear Energy Projects in the U.S.

October 6, 2011

The report contains extensive detailed information about two projects that were supposed to be leading the US Nuclear Renaissance:  one in Georgia, and one in Florida:  both AP1000’s.   Under the key findings on page 2, we read:

Our analysis finds that there are major risks associated with the construction of both the Levy and Vogtle projects. [. . .] Risks for these projects include cost escalation, construction and regulatory delays, and lack of transparency (for the Vogtle project), all of which could lead to much higher costs to ratepayers.

and goes on to say that:

By comparison, based on publically [sic] available data, there are alternative options readily available to Progress Energy and Georgia Power that could meet consumers’ energy needs and be implemented at a lower cost, with far less risk to ratepayers.

Thus the report seems to say that, even were all safety issues settled, there would still not be good reasons to build these plants.

The report is available free here:

http://www.synapse-energy.com/Downloads/SynapseReport.2011-10.UCS.Big-Risks-Better-Alternatives.10-037.pdf

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