http://www.thestate.com/news/politics-government/article192688859.html
May be a refund in the next year or 2…if we’re lucky
Fishing Nerd
“skilled labor isn’t cheap, cheap labor isn’t skilled”
that is if the PSC and NRC agree to the merger.
Proline 201WA
Aloha 24ft pontoon (LooneyToon)
Old Town stern with 7.5 johnson
Figured there to be some stipulations!
Fishing Nerd
“skilled labor isn’t cheap, cheap labor isn’t skilled”
tis the season…
now Westinghouse has been bought
Proline 201WA
Aloha 24ft pontoon (LooneyToon)
Old Town stern with 7.5 johnson
https://www.live5news.com/2019/01/02/dominion-energy-scana-announce-official-completion-merger/
Should have known we were sold a dream…
Fishing Nerd
“skilled labor isn’t cheap, cheap labor isn’t skilled”
the PSC decided to accept the plan that provides no rebate but lower rates for a longer period of time
in the long run it’s better than the $1000 rebate and a rate that’s not as low
this is good if you are a current customer and will be for many years, it’s great if you just became a customer, it’s bad if you plan to move or already moved
in my case I was a customer and paid into the nuke plant, I moved so no rebate for me
Pioneer 197SF
I like your point of view there… the 1000$ was a good gimmick and I’m not surprised that it will not be received my gripe with the whole situation is it states we will continue to pay for this failed project over the next 20 years and it just makes me scratch my head and wonder how can that be
Fishing Nerd
“skilled labor isn’t cheap, cheap labor isn’t skilled”
quote:
Originally posted by StumpNockerI like your point of view there… the 1000$ was a good gimmick and I’m not surprised that it will not be received my gripe with the whole situation is it states we will continue to pay for this failed project over the next 20 years and it just makes me scratch my head and wonder how can that be
Fishing Nerd“skilled labor isn’t cheap, cheap labor isn’t skilled”
everyone will pay for part of the cost of the project, the math has gotten so confusing I’ve lost track, the plan that was accepted spreads the cost over many years and makes it a small amount each month
I think what was decided is that the utility would be allowed to recover the project costs up to the date at which (the PSC) decided costs were no longer being prudently incurred
basically what that means is that the utility undertook the project in good faith, executed properly up to that point, and under the rules of regulation they should be allowed to recover those costs
market forces changed drastically (gas became super cheap and carbon legislation was retracted) and those changes were not predictable, once that occurred there was a point at which the plant should have been abandoned due to economics
what makes this difficult to understand and predict is the political environment, if the government, EPA, pushes forward and imposes carbon tax and similar carbon legislation then gas generation will instantly become extremely expensive
when nuclear was decided upon some carbon legislation had been passed and more was scheduled, it was quite clear that nuclear was the least cost
Pioneer 197SF
They should all be beat with a sock full of pennies…
“Another poon dream splintered on the rocks of reality.” --Peepod 07-25-2017
Thats a lot nicer than what I’d like to see happen to them.
Notice how Santer Cooper is staying low on all this
They aren’t void of culpability by a long shot. They being sold too?
The comments are interesting but if folks understood how a regulated utility is required to operate then much of this would make sense. It would still be bad and distasteful but it would make sense.
The decision to abandon could have been made earlier, while everything that was being done was deemed prudent. Under the regulatory framework the customers would have been required to pay all costs. If that had happened before Westinghouse declared bankruptcy then there would have been huge cancelation costs. Thus the total costs that customers would pay would have been higher.
Or they could have continued and run into huge cost overruns like Georgia Power is seeing. Their expected finished cost is about double the original estimate. I’m not sure how that makes economic sense but they think it does.
Bottom line is there is plenty of finger pointing to go around and it’s easy to see what the right decision was after the fact.
If everyone knew:
- that the price of gas would drop in half and be predicted to stay there for years
- that reliable volumes and good quality gas would be sourced from shale and be close to SC
- that carbon legislation would be stopped and some of it retracted
- that Westinghouse’s estimate of the construction costs were way off
- that building modules would be delayed 1-2 years
- that obtaining NRC approval for changes would take significantly longer than promised
The project would have never been started.
When the next administration takes over, if it’s Democrats, it’s highly likely that carbon legislation will come roaring back. If so, the economics of nuclear will look great again.
Natural gas turbines exhaust significant amounts of carbon. Under the regulatory framework, those costs and fines are passed to the customer in rate increases.
Pioneer 197SF
Well… this is interesting…
Fishing Nerd
“skilled labor isn’t cheap, cheap labor isn’t skilled”
that ends up being peanuts. Less than $200 per customer.
I agree Hooligan. It’s a (**() shame too!
Fishing Nerd
“skilled labor isn’t cheap, cheap labor isn’t skilled”
Looks like the real winners are the law firms
Ain’t that always the way it is Andy?
“Apathy is the Glove into Which Evil Slips It’s Hand”, but really, who cares?