Category Archives: Economy

Vermont Yankee may be next nuke to close

UBS predicts Entergy will close its Vermont Yankee nuclear power plant soon: that’s the same Entergythat couldn’t keep the power on during the SuperBowl and that can’t keep Pilgrim 1 nuclear reactor up in Massachusetts during a winter storm (down 3 days now, for the third downtime in a month). A few days later, UBS set Entergy up on a quarterly earnings call to mention that Vermont Yankee had already been taken off the New England energy capacity auction, which would make it easy to replace. San Onofre still down in California, Dominion Power closing Kewaunee in Wisconsin, NRC terminated Calvert Cliffs in Maryland, Duke closing Crystal River in Florida, and maybe Vermont Yankee next? How about we pass HB 267 to stop Georgia Power charging for cost overruns for Vogtle 3 and 4 and see how long before Southern Company stops that project?

Andrew Stein wrote for vtdigger 6 February 2013 (updated 7 Feb), In report, financial firm forecasts that Entergy may close Vermont Yankee,

In an investment research letter, the Swiss financial services company UBS Securities anticipates Entergy Corp. will retire one of its nuclear power plants in 2013, and it cites “Vermont Yankee as the most tenuously positioned plant.”

UBS representatives met with Entergy’s new leadership team on Feb. 1, the same day Leo Denault became CEO and chair of the board for the Louisiana-based company that operates the Vermont Yankee nuclear power plant.

And that’s how a clean-broom new CEO often signals his intentions: by bringing in outside experts to provide him cover for what he already intends to do anyway. And this new-broom CEO is Entergy’s former Chief Financial Officer who as CFO has repeated fiddled with Vermont Yankee to try to make it less unprofitable. What did those experts say?

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Ways to fix the trash problem

I commend Commissioner John Page for his op-ed in the VDT today, attempting to do what no other Commissioner has tried: to explain the trash issue. Indeed, like him, most of the people I talked to while campaigning for Gretchen were for keeping the waste collection centers open, and of those the vast majority were willing to pay more, which is the main reason the previous Commission made a big mistake in closing those centers. Unfortunately his letter seems to indicate nothing can be done. Well, here are some things that can be done.

Let the contract lapse.

Commissioner Joyce Evans insisted on the contract with the sole provider being only for one year. Let it lapse after that year!

Publish the contract.

What’s in the contract? How do we even know it’s for only one year? The new Commission already had to do over a decision of the previous Commission (remove license fee from Sunday alcohol sales) because the ordinance written up afterwards wasn’t what they thought they passed. Publish the contract and let everyone see!

Publish an accounting for the waste collection sites.

Commissioner Page wrote:
The county was losing hundreds of thousands of dollars each year because the fees for the permits were not bringing in enough money to fully fund the sites.
How do we know that? Continue reading →

Return of water misinformation by Forrest H. Williams in the VDT

Seen today on the WACE facebook page is an image of an op-ed in the VDT, and alongside it I include here Michael Noll’s initial comments, plus a few links.

There is good reason why Stephen Hawkins once said “the greatest enemy of knowledge is not ignorance, it is the illusion of knowledge.” When entities like Fox News can claim that “solar won’t work in America because it’s not as sunny as Germany”, we shouldn’t be surprised by the results of such “educational” efforts. The fact is that we have a number of clean and renewable forms of energy (e.g. wind, solar, geothermal) that already work. Just go to Spain, Germany, Denmark, Iceland, or simply stay in the US and visit places like from New Jersey and New York to California and Arizona. Combine these pieces of a larger energy puzzle with meaningful initiatives of energy conservation and energy efficiency, and we find a way out of our current predicament (i.e. continuing dependence on finite and dirty sources of energy), while saving money (see solar vs. nuclear), preserving our natural resources (e.g. water, forests), and providing clean, healthy and safe environments to live in (e.g. wind and solar do not produce radioactive waste, pollute our air and groundwater).

The guest columnist appearing above is the same individual who thought

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Pilgrim nuke shut down in winter storm again this weekend

Entergy, the company that blacked out the Super Bowl, now has taken down Massachusetts’ Pilgrim nuclear reactor in a winter storm. And that’s not the first time this year. Plus, what will happen with sea level rise to that nuke on the coast?

Beth Daley wrote for Boston.com this morning, Pilgrim nuclear plant shuts down in storm, Pilgrim Station nuclear plant automatically shut down in the thick of the storm Friday night after losing power, according to a statement by Entergy, the plant’s owner.

Authorities said there is no danger and backup diesel generators are powering safety systems.

“The plant is in a safe, secure condition and will remain on backup power supply until off-site power is restored,” the statement said.

But that’s hardly the whole story. Pilgrim Station has been down about a week lately, and at 80% still other days, according to the Nuclear Regulatory Commission (NRC):

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HB 267 Financing costs; construction of nuclear generating plant

As promised, a bipartisan bill was filed Thursday to stop Georgia Power from charging for nuclear cost overruns on Plant Vogtle; this could free up some financing for Georgia to move ahead on solar and wind power.

2013-2014 Regular Session – HB 267 Financing costs; construction of nuclear generating plant; change calculation that utility can recover from customers,

A BILL to be entitled an Act to amend Code Section 46-2-25 of the Official Code of Georgia Annotated, relating to the procedure for changing any rate, charge, classification, or service and the recovery of financing costs, so as to change the calculation used under certain circumstances to determine the costs of financing associated with the construction of a nuclear generating plant that a utility may recover from its customers; to provide for related matters; to provide an effective date; to repeal conflicting laws; and for other purposes.

The bill would add this text to Georgia Code:

…provided, however, that in the event the amounts recorded in the utility’s construction work in progress accounts plus the amount of all financing costs accrued on any construction work in progress accounts exceeds the costs approved by the commission in the original certificate of the nuclear generating plant granted under Code Section 46-3A-5, the cost of equity portion of the financing costs shall be calculated using a rate no higher than the utility’s actual cost of debt.

Let’s see what Georgia Power does to fight this one. So far, it’s Continue reading →

About that flyer

Sent Wednesday. -jsq

Date: Wed, 06 Feb 2013 19:43:49 -0500

Dear Mr. Pritchard,

Thank you for your message of 1 February.

Yes, the binders of the documents for the closings of the various bonds are the sort of financial instruments I requested in my message of 28 January, and that Chairman Slaughter listed in his letter dated 18 January (that I received 28 January). Monday 11 Feb 2013 after the Work Session will be a good time for me to inspect and copy those binders. I will bring a camera and a photocopier. If that time will not work, please advise me of times that would.

Yes, there are other documents I would like to inspect. Please provide

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Bill against Vogtle nuke overruns to be filed Thursday

It’s about time. -jsq

Jeanne Bonner wrote for GPB today Vogtle Cost Overruns Targeted,

A state lawmaker wants to prevent Georgia Power from reaping profits on cost overruns at Plant Vogtle. Rep. Jeff Chapman will file a bill Thursday that would bar the utility from making money on anything other than the certified cost of the nuclear power plant it’s building in eastern Georgia.

Chapman said before writing the bill, he sent a letter to Georgia Power, asking the company to forego the profits.

He said he hasn’t had a response.

Under a 2009 bill, the company can collect in advance the financing costs for the two reactors it’s building near Augusta.

Chapman, a Brunswick Republican, says he supports the project. But

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Forest Bioenergy Conference —GFA

Seen Monday. Seems to me that instead of burning trees tree farmers should start growing solar farms on some of their less useful land.

Forest Bioenergy Conference —GFA

Deadline for early registration is Sunday, February 10…register today to save money!

It’s 21 February 2013 in Forsyth.

Interest in forest biomass as a potential feedstock for renewable energy facilities has been especially keen for the past several years and much of the activity has been centered in Georgia. GFA and UGA are excited about hosting our fourth biennial conference to examine where we are with forest bioenergy development in Georgia and where we may be going in the near future. While many issues are becoming clearer, much uncertainty remains with regard to government policy and market prices for fossil fuels. This conference is an excellent opportunity to hear from some of the players on the front lines of developing markets, influencing government policies, and conducting research on how these changes may impact our wood supply system.

These are some of the topics that will be addressed during this conference by many of the people directly involved with these changes that are taking place in our state. Join us and stay abreast of these significant changes taking place in our forest industry.

The talk I think they should pay attention to is:

What does Low-Cost Natural Gas Mean for Future Biomass Use?
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Nuclear Power Is Not the Answer —Sierra Club

Sierra Club, one of the oldest, largest, and most influential grassroots environmental activist groups in the U.S., has been tentatively anti-nuke since 1974, observing now that none of its conditions of energy conservation, reactor safety, nuclear fuel disposal, weapons proliferation, or adequate regulation have ever been met, has come out unequivocably against nuclear power.

Nuclear Power Is Not the Answer

The Sierra Club remains unequivocally opposed to nuclear energy. Although nuclear plants have been in operation for less than 60 years, we now have seen three serious disasters.

Tragically, it took a horrific disaster in Japan to remind the world that none of the fundamental problems with nuclear power have ever been addressed.

Besides reactor safety, both nuclear proliferation and the required long-term storage of nuclear waste (which remains lethal for more than 100,000 years) make nuclear power a uniquely dangerous energy technology for humanity.

Plenty of links in that Sierra Club page.

Sierra Club is one of the first two of the 99 sponsors of the Forward on Climate rally, high noon Sunday 17 February 2013 on the National Mall in Washington D.C. I’ll be there. How about you?

-jsq

Duke Energy is closing Crystal River nuclear reactor

Finally! The reactor only 160 miles from here that nobody wanted to pay to fix is closing for good: Duke is closing Crystal River. After Kewaunee and Crystal River closing, which one is next? San Onofre? The never-opened Vogtle 3 and 4?

Ivan Penn wrote for Tampa Bay Times today, Duke Energy announces closing of Crystal River nuclear power plant,

Duke Energy announced early Tuesday it will permanently close the Crystal River nuclear plant that has been shut down since late 2009.

The company said it is reviewing alternatives, including building a new natural gas plant, to replace the power produced by the nuclear facility.

Duke's four coal-fired plants will remain in service at the same Citrus County complex where the nuclear plant, known as CR3, is located.

How about they build offshore wind farms and solar farms instead, like TEPCO is doing near Fukushima? Those can be built on time and on budget, use no fuel, and cause no pollution. And how about rooftop solar for jobs and energy independence?

There's more in the article, including this:

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