June 15, 2017 Read More →

U.S. Nuclear Industry Is in Trouble

Bloomberg News:

More than half of America’s nuclear reactors are bleeding cash, racking up losses totaling about $2.9 billion a year, based on a Bloomberg New Energy Finance analysis.

Nuclear power plants are getting paid $20 to $30 a megawatt-hour for their electricity, Nicholas Steckler, an analyst at Bloomberg New Energy Finance, said in a report Wednesday. Meanwhile, it costs them an average of $35 a megawatt-hour to run. That puts 34 of the nation’s 61 plants out of the money, with almost all of the merchant reactors owned by Exelon Corp., Entergy Corp. and FirstEnergy Corp. appearing to be below break-even, he said.

The report underscores the increasing pressure nuclear power generators are facing even as cheap natural gas and renewable resources encroach on their share of the U.S. power market. States including New York and Illinois are now working to subsidize nuclear plants to keep them generating emissions-free electricity.

Power generators including Dynegy Inc. have fought subsidies for nuclear generators, arguing that they threaten competitive power markets. Dynegy Chief Executive Officer Robert Flexon went as far as to say in April that they’re “bad for the country,” calling them a form of corporate welfare.

More Than Half of America’s Nuclear Reactors Are Losing Money

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