Call it the world’s slowest photo finish. After several decades of engineering, construction flaws and delays, and cost overruns—a troubled birth that cost their developers dearly—the most advanced commercial reactor designs from Europe and the United States just delivered their first megawatt-hours of electricity within one day of each other. But their benefits—including safety advances such as the AP1000’s passive cooling and the EPR’s airplane-crash-proof shell—may offer too little, too late to secure future projects.
“Public trust is at stake here, folks.” That’s how South Carolina’s top power industry regulator described the gravity of local utilities’ decision to walk away from a pair of partially-built nuclear reactors, according to Charleston’s Post and Courier. Public Service Commission chairman Swain Whitfield added that the reactors’ cancellation after $9 billion of investment — more than the state’s annual budget — “is going to shatter lives, hopes and dreams” in South Carolina. South Carolina-based Santee Cooper and SCANA’s abandonment of their pair of new reactors, announced on Monday, also have broader ramifications for the nuclear industry’s self-declared “nuclear renaissance.” The cost overruns and delays afflicting this project and a sister project in Georgia drove the reactor designer and builder Westinghouse Electric Co. into bankruptcy. Cost overruns and political concerns are also squeezing nuclear suppliers from France, South Korea, and Russia. Continue reading “Palmetto State’s $9-bn Nuclear Boondoggle”