Worst Week For U.S. Nuclear Power Industry Since Fukishima?

         Worst Week For U.S. Nuclear Power Industry Since Fukishima?

PR Newswire

May 7

After the Non-Renaissance: Experts to Recap Latest Major Setbacks … and
Outlook … for Beleaguered Industry

WASHINGTON, D.C.///NEWS ADVISORY///Two reactors dropped in North Carolina …
two reactors facing the ax in California … two reactors blocked on
foreign-ownership grounds in Texas … and the passage in Florida of the first
legislative rollback of advance cost recovery financing of reactors. All of
these negative developments for nuclear power happened last week and they will
be the focus of a live, two-way phone-based news conference (with full Q&A) at
1:30 p.m. EDT on May 8, 2013.

In a matter of just three days, the following things happened last week:

  oDuke Energy announced Thursday that it will abandon plans for two nuclear
    reactors at the Shearson Harris nuclear plant in North Carolina. (Earlier
    this year, Duke announced that it would not repair the damaged Crystal
    River reactor in Florida.)
  oAlso on Thursday, the Florida Senate sent a bill to the governor revising
    a 2006 law allowing utilities to charge for nuclear reactors that may
    never be built. To date, the "advance cost recovery" provision has
    permitted Florida Power & Light Co.andDuke Energy(formerlyProgress
    Energy Florida)  to collect more than $1.4 billion from customers.
  oSouthern California Edison told investors Tuesday that one or both
    reactors at the San Onofre Nuclear Generating Stations (SONGS) face
    permanent shutdown if the Nuclear Regulatory Commission (NRC) does not
    move immediately to permit the damaged reactors to go back online. Also
    last week, a SONGS whistleblower released a photo showing a portion of the
    reactor project that had been repaired with plastic sheeting, masking tape
    and broomsticks. See
    http://www.upi.com/blog/2013/05/02/Nuclear-power-plant-held-together-with-masking-tape-broomsticks/7181367502559/.
  oAlso on Tuesday: The U.S. Nuclear Regulatory Commission ruled that a
    partnership between NRG Energy Inc. and Toshiba Corp. to build the pair of
    proposed South Texas Project reactors violates a U.S. law prohibiting
    foreign control of nuclear power plants. In March, the NRC failed to
    strike down a similar finding that the proposed Calvert Cliffs-3 reactor
    project in Maryland is dominated by foreign companies.

News event speakers will be:

  oPeter A. Bradford, adjunct professor at the Vermont Law School, a former
    member of the U.S. Nuclear Regulatory Commission (NRC), and a former
    utility commission chair in New York and Maine;
  oMark Cooper, senior fellow for economic analysis, Institute for Energy and
    the Environment, Vermont Law School, and author of "Policy Challenges of
    Nuclear Reactor Construction, Cost Escalation and Crowding Out
    Alternatives" (2009); and
  oDaniel Hirsch, lecturer on Nuclear Policy at the University of California,
    Santa Cruz, president of the California-based Committee to Bridge the Gap,
    a nuclear policy nonprofit organization, and co-author of a recent study
    about the severity of San Onofre's steam generator problems.

TO PARTICIPATE: You can join this live, phone-based news conference (with
full, two-way Q&A) at 1:30 p.m. EDT on May 8, 2013 by dialing 1 (800)
860-2442. Ask for the "worst week ever" news event.

CAN'T PARTICIPATE?: A streaming audio replay of this news event will be
available by 5 p.m. EDT on May 8, 2013 at
http://216.30.191.148/worstweek.html.

MEDIA CONTACTS: Leslie Maloy, (703) 276-3256 or lmaloy@hastingsgroup.com; and
Alex Frank, (703) 276-3264 or afrank@hastingsgroup.com.

/PRNewswire-USNewswire -- May 7, 2013/

SOURCE Peter Bradford, adjunct professor, Vermont Law School and Mark Cooper,
senior fellow for economic analysis, Institute for Energy and the Environment,
Vermont Law School