Doubts dampen S.C.’s nuclear future

[Capt Worley PE]

The hallmark of the future of nuclear power right now is uncertainty.

Utilities largely have backed off any rush to forge ahead in constructing the next generation of expensive, new nuclear reactor plants — even though they seemed plausible just a few years ago.

Santee Cooper, the state-owned utility in Moncks Corner, continues to try to divest itself of some portion of its 45 percent stake in two new reactors under construction at the V.C. Summer Nuclear Station in Jenkinsville, a $10 billion project.

SCE&G, the state’s largest utility and principal owner of the Summer plant, maintains the 55 percent controlling interest. Santee Cooper has been seeking a buyer for its stake in the plant for three to four years, without success. Talks continue with one suitor, Charlotte energy giant Duke Energy.

The doubts are hard to miss. A report from Georgia utility regulators this month said Georgia Power Co.’s plan for two nuclear reactors at Plant Vogtle near Augusta wouldn’t make economic sense if work started today. Cheap natural gas, a recession-tinged U.S. economy and inevitable construction cost overruns on the $14 billion project would put the Georgia plant out of reach, the report concluded.

Read more here: http://www.thestate.com/2013/08/18/2927964/doubts-dampen-scs-nuclear-future.html#storylink=cpy

Natural gas probably isn't going to stay cheap very long....

 

[Flyer_PE]

The low price for electricity right now is putting the brakes on a whole lot of new construction. Treating this glut in the power market like it's a permanent condition is going to cause some pain down the road.

 

[Ble_PE]

^That's the concern that I have right now. Everyone seems to have forgotten what happened in the early 2000s when gas prices skyrocketed and made all those gas plants they built through the 90s too expensive to run in a lot of situations. It's great to take advantage of the prices right now, but power producers need to be thinking long term and nuclear has to be a part of their power generation fleet.

 

[Capt Worley PE]

I honestly think we've lost the ability, as a society, to think ahead.

 

[Master slacker]

I honestly think we've lost the ability, as a society, to think ahead.

fixt

 

[Supe]

Being actively involved in the new builds, SMRs need to happen, and soon. Design woes and over conservatism, even for a nuclear plant, are crippling the new builds.

 

[mizzoueng]

its disappointing to see what is happening in the power industry lately. The massive push for NG is getting out of control. The regulations on fracking are coming, but NG power plants are being designed and built, coal is being abandoned, and even cars are switching to NG. All is good and well until the price booms here in a few years.

SMR's are a good idea, but there is waaaaay too much red tape in the way. Just listened to one of the lead engineers with AEP talk about how it takes 10+ years for a plant to be built, 3 of which is just permitting. In China (coal/gas) plants are permitted within months and can be built of half the schedule a US unit takes.

 

[Dleg]

I just finished a graduate course in energy planning. NG appears to be leading the way for at least the next few decades. Even if some form of carbon tax or cap & trade system is imposed, nuclear will still probably not be economical compared to NG.... BUT.... nuclear is seen by most in the energy field as a necessity, at some point. Where that point is will probably depend on the cost of NG. As you guys note, the low price of NG won't stay that way if everyone starts converting from coal to NG. Plus, last I saw, the currently known reserves of NG are on the order of 75 years at current demand.... once the switchover from coal starts, we'll use up the Bakken and Marcellus in just a few decades.

I say watch for the IPCC's 5th report, which I think is due out in December (?). If it dismisses the Fukushima fears, and continues to hold nuclear out as a future necessity for dealing with climate change, some of the current hysteria from the enviro folks might dissipate. But that still won't address the current economics.

 

[Capt Worley PE]

I say watch for the IPCC's 5th report, which I think is due out in December (?). If it dismisses the Fukushima fears, and continues to hold nuclear out as a future necessity for dealing with climate change, some of the current hysteria from the enviro folks might dissipate.

You are a funny, funny man.