NIRS Publishes White Paper on Reactor Shutdowns and Phaseout Plans | NIRS

NIRS published a white paper on strategies states can use to manage shutdowns of nuclear reactors responsibly and cost-effectively. Nuclear Reactor Closures: Practical, Cost-Effective Solutions for Communities and the Climate, takes lessons learned from reactor closures and state subsidy programs. It proposes proactive, cost-effective ways for states to plan for shutdowns, while protecting workers and local communities through economic transition and accelerating renewable energy growth and greenhouse gas reductions.

NIRS Publishes White Paper on Reactor Shutdowns and Phaseout Plans | NIRS

nirs.org

California’s last nuclear plant to close after unanimous vote by regulators - San Francisco Chronicle

Protest at the Civic Center against nuclear power and the Diablo Canyon plant in April 1979

California’s last nuclear power plant — Diablo Canyon, whose contentious birth helped shape the modern environmental movement — will close in 2025, state utility regulators decided Thursday.

…PG&E will, however, be able to shift onto its customers $241.2 million in costs related to shutting down the plant, including retaining its staff. PG&E estimated Thursday that customer bills would rise less than 0.5 percent on an annual basis as a result of the commission’s decision…

… “The decision undermines what should have been an inspiring model for the rest of the country and the world on best practices for planning for the closure of giant, expensive, and inflexible nuclear plants,” said Ralph Cavanagh, co-director of the energy program at the Natural Resources Defense Council, one of the groups that negotiated the closure agreement with PG&E.

The commission, he said, did not seem to appreciate the amount of thought the negotiating partners, some of which had a long history of fighting PG&E, put into the details of their agreement.

“It was a joint proposal by numerous parties that have never agreed on anything,” Cavanagh said…

more: California’s last nuclear plant to close after unanimous vote by regulators - San Francisco Chronicle

Public Participation Hearings on PG&E’s Request to Close Diablo Canyon on OCT 20; SAN LUIS OBISPO {{ CLOSE IT NOW! }}

– "We are holding [this] Public Participation Hearing[s] to provide an
opportunity for residents and organizations in and near San Luis Obispo to provide their perspective and input to us about..."

1:30 & 7 PM

PRESS RELEASE: 

CPUC TO HOLD PUBLIC PARTICIPATION HEARINGS IN
SAN LUIS OBISPO ON PG&E’S REQUEST TO CLOSE DIABLO CANYON
SAN FRANCISCO, Sept. 28, 2016 - The California Public Utilities Commission (CPUC) will hold Public Participation Hearings to provide an opportunity for residents and organizations in and near San Luis Obispo to provide their perspective and input to the CPUC about Pacific Gas and Electric Company’s (PG&E) request to close its Diablo Canyon Power Plant.
WHEN: Oct. 20, 2016, 1:30 p.m. AND 7 p.m.
WHERE: San Luis Obispo Botanical Garden in El Chorro Regional Park, Oak Glen Pavilion Room,
450 Dairy Creek Rd., San Luis Obispo
Comments from the public can help the CPUC reach an informed decision and consumers are encouraged to attend the Public Participation Hearings. The CPUC expects to hold additional Public Participation Hearings later in the course of this proceeding. 

MORE: http://docs.cpuc.ca.gov/…/Publ…/G000/M167/K744/167744006.PDF

CPUC Meeting and Events Calendar

CPUC Facebook Event 1:30 PM
CPUC Facebook Event 7 PM

CPUC event page does not list the simulcast mtg set up for SLO ... where as their website does ... WATCH FOR UPDATES


http://www.cpuc.ca.gov/PPH/

EDF sinks to all-time low as nuclear waste cost estimate soars | Reuters

PARIS, Jan 12 Shares in French utility EDF sank to all-time lows on Tuesday after the country's Andra nuclear waste agency said that storage costs could be higher than EDF's estimates, although EDF disputed Andra's figures. Mirroring German utilities E.ON and RWE , which saw their shares hit decade lows late last year over worries about nuclear decommissioning costs, shares in EDF fell as much as 7.3 percent before closing down 4.4 percent at 11.96 euros...

more: UPDATE 1-EDF sinks to all-time low as nuclear waste cost estimate soars | Reuters

State looking at criminal charges against former CPUC president - SFGate

...considering criminal charges against Michael Peevey, former president of the California Public Utilities Commission, for his private meeting with a Southern California Edison Co. executive about financial arrangements for shutting down the San Onofre nuclear plant...

READ: State looking at criminal charges against former CPUC president - SFGate

Nuclear liabilities could hurt utilities' credit ratings-S&P | Agricultural Commodities | Reuters

PARIS Nov 16 (Reuters) - Provisions for decommissioning nuclear power plants and disposing of nuclear fuel waste over the next two decades could weigh on European utilities' credit ratings, Standard & Poor's said in a report published on Monday.

S&P said that at the end of 2014, nuclear liabilities of the largest eight nuclear plant operators in Europe totaled 100 billion euros ($107 billion), representing 22 percent of their aggregate debt as adjusted by the rating agency.

The eight utilities are France's EDF and Engie , Germany's E.ON, RWE and EnBw , Sweden's Vattenfall, Finland's Fortum and the Czech Republic's CEZ.

"Given the tight headroom in the credit ratings of European utilities with heavy nuclear exposures, and that they generally operate with a high adjusted financial leverage, any changes in the valuation of their provisions could drag on their credit metrics and liquidity, and ultimately their credit ratings," said S&P credit analyst Pierre Georges.

He added that the value of nuclear provisions is more difficult to calculate than other debt-like obligations, such as pensions, and are also harder to compare between peer companies, because accounting methods are not standardised.

S&P said actuarial assumptions pose a potential risk that provisions may rise, notably the real discount rate used to compute the present value of the liability.

Beyond the financial risks stemming from nuclear liabilities, the agency sees potential for operational difficulties, which are still difficult to assess, and added it is uncertain whether companies' dedicated assets will perform as planned to cover decommissioning costs, given the uncertain returns on these investments.

Consultancy Capgemini said this month Europe needs to bring more transparency to utilities' nuclear liabilities as gross provisions for decommissioning and long-term spent fuel management range from 4.7 billion euros per reactor in Germany to just 1.2 billion in France. ($1 = 0.9331 euros) (Reporting by Geert De Clercq; Editing by David Holmes)

Nuclear liabilities could hurt utilities' credit ratings-S&P | Agricultural Commodities | Reuters

When the party's over ... the financial spectre at the end of nuclear power - The Ecologist

There are two rules about the end costs of nuclear power, writes Ian Fairlie. It's far more than you ever knew. And whatever sum of money was ever set aside, it's nowhere near enough. Germany understands this. That's why it refused to let E.ON spin off its nuclear liabilities into a hands-off company. But the UK, it seems, has lost the ability to learn from its nuclear mistakes...

READ: When the party's over ... the financial spectre at the end of nuclear power - The Ecologist

Radioactive and Short on Cash to Pay for Closures - Bloomberg Business

...82 of the 117 U.S. nuclear power plants, including seven in the process of shutting down, don’t have enough cash on hand to close safely, according to NRC records. And closing tends to cost more than operators expect. Based on NRC filings, the actual combined cost may be somewhere in the neighborhood of $100 billion -- $43 billion more than the current balance of the trust funds...

Radioactive and Short on Cash to Pay for Closures - Bloomberg Business



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