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10/26/2016

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Ned Ford

Let's not give Watts Bar 2 credit for being a new nuclear plant. It was started in 1973 according to Wikipedia. Unit 1 was completed in 1996. Unit 2 was 80% complete when construction was stopped in the 1980's.

The main point is that with 80% of the plant already built, the 2016 completion does not reflect anything like the cost of a new nuclear plant built from scratch.

There are four units under construction, two at Vogtle in Georgia and two at Summer in South Carolina. Both are insanely expensive and both are having enormous cost overruns. The power from these two facilities will be more than triple the current wholesale price of electricity in most of the U.S.

The plants are under construction because of regulator fixation on nuclear and $18 billion of subsidies from the Federal taxpayer.

As Tom notes these plants could not be built in Ohio because they require ratepayer subsidy, and ratepayer subsidy doesn't happen under Ohio law, unless the recent FE decision is allowed to stand.

Funny how this sort of anti-consumer manipulation of rates never seems to happen in Ohio when there is a Democratic governor.

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