A former state regulator and member of the U.S. Nuclear Regulatory Commission, Peter Bradford, argues that subsidizing reactors to keep them running is unnecessary and will be bad for consumers and the environment. Since the 1950s, U.S. nuclear power has commanded immense taxpayer and customer subsidy based on promises of economic and environmental benefits. Many of these promises are unfulfilled, but new ones take their place. More subsidies follow. Today the nuclear industry claims that keeping all operating reactors running for many years, no matter how uneconomic they become, is essential in order to reach U.S. climate change targets. Economics have always challenged U.S. reactors. After more than 100 construction cancellations and cost overruns costing up to US$5 billion apiece, Forbes Magazine in 1985 called nuclear power “the greatest managerial disaster in business history…only the blind, or the biased, can now think that most of the money [$265 billion by 1990] has been well spent.” U.S. Atomic Energy Commission (AEC) Chair Lewis Strauss’ 1954 promise that electric power would be “too cheap to meter” is today used to mock nuclear economics, not commend them.
Government Tech 18th Aug 2016 read more »
The Conversation 18th Aug 2016 read more »