Economic Reasons

Nuclear power is expensive and has only been able to survive thanks to public subsidies. The World Council for Renewable Energy estimates that the nuclear industry has received approximately 1 billion dollars (adjusted to present value – 2006) of public money in the world, while all non-renewable energy has received more than one 50,000 million dollars. Fortunately, profitability and interest in renewable energy are growing rapidly thanks to the progress in increasing efficiency and reducing costs.
Although the industry claims that nuclear construction costs are around 1,500 / kW, , the Keystone Center in June 2007 estimated the cost of construction for a nuclear power plant between 3600 and 4000 / kW. Four months later, Moody’s estimates between 5000 and 6000 / kW.
Construction costs of nuclear power has traditionally been much higher than estimated. In the U.S., a study of its 75 nuclear reactors shows that construction costs exceeded the budget by 322 on average. In India, the country with recent experience in construction of nuclear reactors the costs of their last 10 installations have tripled the original budget. Part of the increase in construction costs is due to the increased time required for the same: of the required 66 months on average in the mid-70 has in the last half of practice to 82 months (almost 7 years) between 2000 and 2005.
The cost of decommissioning nuclear power has proved to be much higher than expected. For example, the dismantling of the power of the Yankee Rowe (Massachusetts, USA) cost about 450 million, compared with 120 million originally planned. Affordable clean energy is available from energy costs are actually reduced so you pay less. In the UK, the official estimate of the decommissioning costs of nuclear plants is 70,000 million dollars, while industry funds for nuclear decommissioning involving 22,000 million dollars (less than one third of the total cost). Although so far few plants have been dismantled in the coming years many reached the end of their expected lives, and must be dismantled.
The cost of radioactive waste management in Spain (we pay all through the electricity tariff), as calculated by the National Radioactive Waste SA 6A in its fifth Radioactive Waste Plan, will be approximately 13,800 million euros. This calculation extends to the year 2070, and does not include the costs of subsequent years (the radiotoxicity of the waste is maintained for tens of thousands of years).
According to the Secretary of the International Conference for Renewable Energies 2004, nuclear is the energy source that generates less employment per unit of energy produced. Less than any renewable energy.
In economic terms, the tragedy of Chernobyl has already cost to Belarus, Russia and Ukraine several hundred billion dollars
Nuclear power plants can not be secured only through private insurers. In 2005, the maximum amount of insurance for a nuclear plant in the U.S. was 300 million dollars. The costs of a serious nuclear accident could be much higher, which established a fund (called the Price-Anderson fund), which is funded by the companies themselves, which would cover any excess of the 300 million (in 2006 this fund was 9500 million dollars). The costs of an accident that exceeded the assets of the Price-Anderson fund should be covered by the state. In the case of Spain, according to a draft of the Draft Law on Civil Liability for Nuclear Damage, the management companies should establish a nuclear liability coverage in the amount of 1200 million, but insurers operating in the country (as elsewhere) do not have sufficient capacity to provide security, so the electricity tariff must cover the warranty for damages uninsurable.
The major global banking groups have said that without 100 of credits from the state made no loans to build nuclear weapons. Bush’s plan foresees the state guarantee on 80 of the cost of the first six plants. But with 80 of banks do not have enough: either we guarantee a 100 credit is granted or not.
According to the American business magazine Forbes, “the failure of U.S. nuclear program is seen as the biggest corporate disaster in the history of business.”
The World Bank states that “a bank loan granted to the energy sector requires a review of policies, institutions and investments in the sector.

Comments are closed.