Tag Archives: Economy

“It has to close because of the pocketbook.” —Kyle Jones on Maine Yankee nuclear power plant

Instead of demonstrating to influence legislators, sometimes it's better to get elected and legislate: that's what Kyle Jones did in Maine, and he closed the Maine Yankee nuke, de-monopolized the state's electrical utilities, and instituted a 30% renewable energy goal. All this was helped by the nuclear industry's own incompetence.

Bangor Daily News, Page A2, 28 May 1997, Maine Yankee plant may be closed down: Owners weigh repair costs, deregulation,

Page 2A Bangor Daily News 28 May 1997 Cracking in the plant's steam generator tubes, which carry the superheated, radioactive water, was first discovered in 1990. In 1994, Main Yankee officials predicted that the plant's problems were over after they plugged more than 300 of the cracked tubes. However, testing of the tubes during a shutdown for refueling in 1995 revealed as many as 10,000 additional cracked tubes.

Sounds a lot like San Onofre.

At the time, it was estimated that permanently shutting down the plant would cost at least $316 million while, after 23 years of operation, Maine Yankee had collected only $100 million to pay for its decommissioning. The most recent estimate for decommissioning is $369 million, of which only $169 million has been raised as of this month.

Facing the accumulation of these engineering and operational difficulties, the owners of the plant signaled a departure from business-as-usual and, earlier this year, brought in the New Orleans-based Entergy Corp. to provide management services at Maine Yankee.

Oh, my! The same Entergy that's now likely to close Vermont Yankee. And Vermont Yankee wasn’t the first to follow this financial path to closure:

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No list of who bought waste collection center cards? @ LCC 2013-02-12

How can Lowndes County not have a list of who it sold waste collection center cards to? How can it not provide it in response to an open records request?

In the 9 October 2012 Regular Session, Lowndes County Manager Joe Pritchard said:

Just under 5,000 residents who have purchased the cards

That was in his curiously redacted summary of the history of solid waste handling in the county, and he was referring to the access cards to the waste collection centers.

Paige Dukes to April Huntley 2013-01-28 Yet when April Huntley submitted an open records request asking for the names of the 5,000 people who would be affected by the waste collection centers, this is what County Clerk Paige Dukes replied:

In regards to your open records requst for a copy of the 5,000 residents in unincorporated Lowndes County who will be affected by the closing of the recycling centers, the document you have requested does not exist.

Maybe this explains part of why Veolia, excuse me, ADS, seemed so confused yesterday morning. Come tonight to see if any Commissioners ask about this.

-jsq

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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