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U.S. Nuclear Renaissance Is On Hold
October 31, 2010, 1:40 am
Filed under: News | Tags: , ,

U.S. Nuclear Renaissance Is On Hold

Critics of a U.S. Nuclear Renaissance can breathe a sigh of relief as plans to build a third nuclear reactor at Calvert Cliffs in Maryland appear to be crumbling.

From the Baltimore Sun (Excerpts):

The latest sign came last week that a revival might still be a long way off. Baltimore’s Constellation Energy Group — once widely viewed as a leader in developing new nuclear plants — abandoned that business and left its French partner to pursue a new reactor at Calvert Cliffs in Southern Maryland.

Just three years ago, the economic pieces needed to revive the U.S. nuclear industry seemed to be moving into place. Fuel prices were skyrocketing along with electricity demand. Congress appeared close to taxing carbon emissions. And new government incentives were expected to reduce the high cost of building reactors.

So far, the federal government has awarded only one loan guarantee, for a Southern Co. nuclear reactor in Burke, Ga. Many industry observers had expected Constellation to be next in line to secure a loan guarantee for a third nuclear unit at Calvert Cliffs.

But Constellation pulled out of negotiations this month with the Department of Energy over the loan guarantee, citing unreasonable and expensive terms that would have added $880 million to the cost of building Calvert Cliffs 3. Constellation, along with the Nuclear Energy Institute, contends that the formula used to calculate what companies must pay for the federal loan guarantee is flawed and needs to be fixed.

For the full article, CLICK HERE.

Baltidome does not support the expansion of nuclear energy and a third reactor at Calvert Cliffs in Maryland.  To learn more, CLICK HERE.