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425 points nixass | 1 comments | | HN request time: 0.212s | source
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philipkglass ◴[] No.26674051[source]
I hope that the federal government can provide incentives to keep reactors running that would otherwise close prematurely.

5.1 gigawatts of American reactors are expected to retire this year: https://www.eia.gov/todayinenergy/detail.php?id=46436

It's a shame that the US is retiring working reactors while still burning fossil fuels for electricity. Reactors are far safer and cleaner than fossil electric generation. It's mostly the low price of natural gas that is driving these early retirements. Low gas prices have also retired a lot of coal usage -- which is good! -- but we'd make more climate progress if those low prices didn't also threaten nuclear generation.

Some states like New York already provided incentives to keep reactors running for climate reasons:

https://www.eia.gov/todayinenergy/detail.php?id=41534

Federal policy could be more comprehensive.

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1. andrewlgood ◴[] No.26681646[source]
Nuclear power plants have become incredibly expensive to operate. You are correct that some states such as NY, IL, and MA have provided subsidies, but these have been about saving jobs and tax base, not as much about the government. In NY the subsidy is for the Rochester-area plants, not Indian Point. Indian Point produces 12% of the state's power and an even larger % of power for NYC.

In Ohio, the subsidies we so large they led to bribery payments of $60 million by FirstEnergy (former owner of the nuclear plants) to the Ohio Speaker of the House. https://en.wikipedia.org/wiki/Ohio_nuclear_bribery_scandal

Low gas prices have accelerated the decision to close down existing nuclear power plants as gas prices look to be low for the foreseeable future thus keeping power prices low.

As for new nuclear, I do not think there will be anymore after the Vogtle 3/4 plants are online. The certified construction and capital costs were estimated at $14 billion in 2017. In 2018 the costs were estimated upward to $25 billion. Analysts are now estimating an additional $1-2 billion due to COVID. With the estimated completion dates of Nov 21 and Nov 22 likely being pushed back. https://en.wikipedia.org/wiki/Vogtle_Electric_Generating_Pla...

A sister set of plants (Westinghouse AP1000) design were begun in South Carolina (Summer 2/3). In 2008, costs were estimated at $9.8 billion. Project was cancelled in July of 2017 after $9 billion spent and total cost to complete was estimated at $25 billion.

We do not know how to build new nuclear power plants even remotely cost effectively. The French have tried and it bankrupted their lead nuclear developer, Areva, in 2016. China has built some new nuclear power plants, but has not started a new one in a number of years.

One last side note, another item damaging nuclear power plants, particularly in the Midwest is the structure of the subsidy for wind power. Wind power tax credits are a Production Tax Credit (PTC). To earn the tax credit, the wind turbine must generate power into the grid. As a consequence, wind turbines have a tax incentive to produce power in negative price environments (e.g. overnight). Nuclear power plants cannot turn on and off easily so they end up paying to produce power at these negative price time. Not helpful for profitability.