Capt Worley PE
Run silent, run deep
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....