[ RadSafe ] Nuclear Revival Hits Another Pothole. 16 Feb 2017
jim_hoerner at hotmail.com
Fri Feb 17 20:22:13 CST 2017
>From: Maury <maurysis at peoplepc.com>
>This strikes me as a really sad state of nuclear affairs. To you who
are professionals in the field, is this as bad as it looks?
>>Nuclear Revival Hits Another Pothole**
>>Posted: 16 Feb 2017 12:59 PM PST**
>>Japan?s electronics giant Toshiba is on the verge of bankruptcy, and
the Financial Times is reporting that this is attributable to Toshiba?s
decision to go big into a revival of nuclear power through its
acquisition of Westinghouse:**
Hello, Maury & Dog.
Yes, I think the situation is pretty dire, but I do not think Toshiba is on the verge of bankruptcy yet. They make a lot more than nuclear power plants, and maybe Japan would step in if absolutely necessary. But if/when they split the nuclear part of the company off, it could be a real financial challenge for the nuclear part to survive.
Part of it is due to their bad nuclear deals including mainly cost overruns on the AP1000s they are building, followed by large losses due to their acquisition of CB&I Stone & Webster. I suppose that if the cost over-runs continue for the AP1000 construction, it could get really ugly and bankruptcy might be the best option (for everyone except the utilities, the ratepayers, and America).
I do not know how much is attributable to the shutdown of the Japan fleet, but I would expect that to be very significant, even though it does not seem to be mentioned in most news articles like this one... https://www.washingtonpost.com/world/chaos-at-toshiba-63-billion-writedown-chairman-resigns-bankruptcy-looms/2017/02/14/60156673-8abc-482a-b89b-525f412060a8_story.html?utm_term=.21098993cf79
To some large extent, it is also due to the unlevel playing field that nuclear power must compete on these days, with huge subsidies given to other forms of energy production...
Just click on PA, and see all of the $hundreds of millions available to non-nuclear energy.
To another, lesser extent, it is due to the increased safety initiatives that we in the industry have imposed upon ourselves recently, increasing costs dramatically.
Basically, I would say that we are not likely to see new nukes built in the US until some significant changes are made to level the playing field. Perhaps the current US administration will begin working on that soon.
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