The special and exceptional costs of the nuclear industry

Nuclear Energy Dangerous to Your Wallet, Not Only the Environment, CounterPunch, by PETE DOLACK , 1 JAN 16    “………There would at least be a small silver lining in this dark picture if the electricity produced were cheap. But that’s not the case. From the mid-1970s to the mid-1990s, the cost of producing electricity from nuclear power in France tripled and in the United States the cost increased fivefold, according to the Vermont Law School paper [page 46].

Then there are the costs of nuclear that are not imposed by any other energy source: What to do with all the radioactive waste? Regardless of who ultimately shoulders these costs, the environmental dangers will last for tens of thousands of years. In the United States, there is the fiasco of the Yucca Mountain nuclear waste dump in Nevada. The U.S. government has collected $35 billion from energy companies to finance the dump, which is the subject of fierce local opposition and appears to have no chance of being built.

Presumably, the energy companies have passed on these costs to their consumers but nonetheless are demanding the government take the radioactive waste they are storing at their plants or compensate them. As part of this deal, the U.S. government made itself legally responsible for finding a permanent nuclear-waste storage facility.

And, eventually, plants come to the end of their lives and must be decommissioned, another big expense that energy companies would like to be borne by someone else. The Heinrich Böll Stiftung studysays:

“[T]here is a significant mismatch between the interests of commercial concerns and society in general. Huge costs that will only be incurred far in the future have little weight in commercial decisions because such costs are “discounted.” This means that waste disposal costs and decommissioning costs, which are at present no more than ill-supported guesses, are of little interest to commercial companies. From a moral point of view, the current generation should be extremely wary of leaving such an uncertain, expensive, and potentially dangerous legacy to a future generation to deal with when there are no ways of reliably ensuring that the current generation can bequeath the funds to deal with them, much less bear the physical risk. Similarly, the accident risk also plays no part in decision-making because the companies are absolved of this risk by international treaties that shift the risk to taxpayers.” [page 17]

The British government, for instance, currently foots more than three-quarters of the bill for radioactive waste management and decommissioning, and for nuclear legacy sites. A report prepared for Parliament estimates that total public liability to date just for this program is around £50 billion, with tens of billions more to come……….http://www.counterpunch.org/2016/01/01/nuclear-energy-dangerous-to-your-wallet-not-only-the-environment/

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