From a MIT 2020 Study:A new analysis by MIT researchers details many of the underlying issues that have caused cost overruns on new nuclear power plants in the U.S., which have soared ever higher over the last five decades. The new findings may help the designers of new plants build in resilience to the factors that tend to cause these overruns, thus helping to bring down the costs of such plants.
And here’s a prime example: In Georgia, Bloated Costs Take Over a Nuclear Power Plant and a Fight Looms Over Who Pays Vogtle’s two new nuclear reactors are six years late and at least $16 billion over their original budget.
More on the Georgia Nuclear plant’s doubled cost: RATEPAYER FUNDS WOULD BE BETTER SPENT ADVANCING EFFICIENCY, RENEWABLE ENERGY Wednesday, May 11, 2022 ATLANTA – The only nuclear reactors under construction in the United States are now projected to cost more than $30 billion – and the price tag for Plant Vogtle near Augusta, Georgia, doesn’t even include $3.68 billion that the project’s original contractor paid to the owners after going bankrupt.
The $34 billion total is $20 billion more than the original cost estimate of $14 billion. The two reactors under construction are now more than five years behind schedule. Contractor delays, rework projects, the inability to complete tasks on time and the bankruptcy of reactor designer Westinghouse Electric Co. LLC have more than doubled the project’s costs.
Notice that this IS the only Nuclear plant currently under construction in the US.
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And it still is not producing any electricity for the Georgia ratepayers. It many cost even more once it gets to the point of generating electricity for Georgia ratepayers.
And it still is not producing any electricity for the Georgia ratepayers. It many cost even more once it gets to the point of generating electricity for Georgia ratepayers.
Don’t get me started. I’ve been paying for the farce that is Vogtle for years. Among the delays, problems with concrete, problems with wiring (after being buried in concrete), problems with bankruptcy of the construction company, problems with supply chain, labor, you name it, they’ve used it as an excuse. And yet, the state PSC continues to approve surcharges on power bills to cover the costs.
Fuskie
Who is sure someone is getting rich off this boondoggle project but so far they haven’t yet been caught…
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I’ve been paying for the farce that is Vogtle for years… …And yet, the state PSC continues to approve surcharges on power bills to cover the costs.
Renewables are making my electric bill skyrocket in recent years. California is going big into renewable energy, mostly wind and solar, and Californians pay some of the highest electric rates in the country.
Residential rates, as of March 2022
California : 25.12 cents/kwh
Georgia : 12.08
US average : 13.98
The state requires utilities to purchase renewable energy to meet the renewable portfolio standard. My local utility bill is 38 cents/kwh for electricity! I wish the utility would build some nuclear, so I could get a cheap rate like Georgia!
And yet, the state PSC continues to approve surcharges on power bills to cover the costs.
Fuskie
Who is sure someone is getting rich off this boondoggle project but so far they haven’t yet been caught…
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Georgia Power and Southern Company are culprits. And the Republican legislatures in their areas of service are loyal servants of Georgia Power and Southern Company.