Nuclear Industry Withers in U.S. as Wind Pummels Prices

[marmar]

(Bloomberg) A glut of government-subsidized wind power may help accomplish a goal some environmentalists have sought for decades: kill off U.S. nuclear power plants while reducing reliance on electricity from burning coal.

That’s the assessment of executives and utility experts after the U.S. wind-energy industry went on a $25 billion growth binge in 2012, racing to qualify for a federal tax credit that was set to expire at year’s end.

The surge added a record 13,124 megawatts of wind turbines to the nation’s power grid, up 28 percent from 2011. The new wind farms increased financial pressure on traditional generators such as Dominion Resources (D) Inc. and Exelon Corp. in their operating regions. That’s because wind energy undercut power prices already driven to 10-year-lows by an abundance of natural gas.

“Right now, natural gas and wind power are more economic than nuclear power in the Midwestern electricity market,” Howard Learner, executive director of the Environmental Law and Policy Center, a Chicago-based advocate of cleaner energy, said in a phone interview. “It’s a matter of economic competitiveness.” ................(more)

The complete piece is at: http://www.bloomberg.com/news/2013-03-11/nuclear-industry-withers-in-u-s-as-wind-pummels-prices-energy.html

[NightWatcher]

1. And a whole lot more is coming

It's going to start offshore in Mass and work its way slowly down the East Coast. Law suits are being settled (or thrown out) and environmental hurdles are being taken into consideration. The winds of change are blowin this way.

[RobertEarl]

2. Capitali$m can work

Our socialistic government has stopped sending welfare to nuclear power plants, all the while forcing the electric market open to more suppliers.

In stepped the capitalists who see that wind can make them some serious profits.

True, the government is socializing a bit of the profiteering. But that is nothing more than the socialistic government responding to its citizen's demands for clean renewable energy.