Nuclear? I don’t think so…

November 6th, 2010

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A little birdie sent this about “our Stevie,” former Minnesota Asst. A.G. Steve Corneli, now a Senior V.P. at NRG, is in the news.

Corneli said nuclear is established and the existing fleet of nuclear reactors provide the lowest cost power currently on the grid, but there hasn’t been a new plant built in roughly 30 years.
“We actually think that nuclear power has the potential to be the real foundation of clean energy technology,” he said.

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Steve Corneli — he was the one who “clarified” that nuclear stranded costs (BIG BIG $$$$ which Northern States Power was claiming were due in the event of deregulation which they were fighting for) was really stranded ASSETS!  Yes, dear readers, you’ve heard this before, but if you haven’t read this report, from the dark ages of 1997, please do, because incorporating this shift in perspective on stranded costs can free your soul!

Corneli on Stranded Assets

And you may remember that dreadful idea on his watch that NRG should put an IGCC (coal gasification) plant in Delaware at its Indian River site with THIS, below, as a site plan, I kid you not:

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Oh, my, that instills confidence, doesn’t it!

And so what’s he up to now?  He’s pushing nuclear power, and next to him, there’s the Obama administration pushing nuclear power… and they wonder why we’re “disappointed?”

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The fate of nuclear power after midterm elections

Posted on 11/03/2010

by Brian Wheeler, Associate Editor, Power-Gen Worldwide

In the largest shift of power since 1948, Republicans took over the U.S. House on midterm election night. And the nuclear industry could benefit from the Republican takeover as part of the clean energy legislation.

In a statement released the morning of Election Day, Don Gillispie, CEO of Alternate Energy Holdings, Inc., said that if Republicans won, the other big winner would be nuclear power. Well, we do know that Republicans have won the House and have made up ground in the Senate as well, even though Democrats still hold the majority.

Historically there has been more support from Republicans for nuclear power. But Steve Corneli, senior vice president of market and climate policy for NRG Energy, said there is an increasing awareness from Democrats that nuclear power can be an important part of energy independence and a zero-carbon emission future.

Michigan representative Fred Upton, like many Republicans, is a supporter of nuclear power in the U.S. Upton is also a strong contender to head the House Energy and Commerce Committee; the committee that sees over the national energy policy.

“Through a greater commitment to nuclear, we have a unique opportunity to cut greenhouse gases, provide stability to our electrical supply and create jobs,” Upton told Reuters.

John Boehner (R-OH) is expected to take over as the new Speaker of the House and is also a strong proponent of nuclear power.

“The new Congress will be more pro-nuclear than any Congress we’ve seen in decades,” said Gillispie.

And President Obama continues to promote nuclear power, too.

“There’s been discussion about how we can restart our nuclear industry as a means of reducing our dependence on foreign oil and reducing greenhouse gases,” Obama said during a speech the day after the midterm elections. “Is that an area where we can move forward?”

As of now, that seems to be possible. The White House has requested an additional $36 billion in federal loan guarantees for new nuclear plants and it seems that Republicans are likely to support the measure, even with a big focus during the campaign on reducing government spending.

But Corneli said the interesting part is that the important policy measures that are needed to help jump start the nuclear renaissance are the ones with the lowest cost to federal treasury, and those are the federal loan guarantees, “which really don’t cost the treasury anything.”

“Essentially it is self-financing,” he said. “It seems like the stars could be lining up right now for a boost in nuclear power development.”

Corneli said nuclear is established and the existing fleet of nuclear reactors provide the lowest cost power currently on the grid, but there hasn’t been a new plant built in roughly 30 years.
“We actually think that nuclear power has the potential to be the real foundation of clean energy technology,” he said.

Gillispie seems to agree.

“When the history of nuclear power is written, Nov. 2, 2010 will be a major turning point for the industry,” said Gillispie. “It will mark the beginning of a dramatic resurgence for nuclear power.”