Iowa Senators Warn Of Financial Risk If Nuclear Plan Approved

[bananas]

Source: KCRG TV

At the Capitol this morning, Iowa Democratic senators kicked off a statewide tour to warn Iowans they face severe financial risk if legislation to build a new nuclear plant is approved.
...
“You get the cost and risk while MidAmerican gets the profits guaranteed under HF 561 without any guarantee that a nuclear plant will produce a single watt of electricity,” he said.

Hogg and Bolkcom were joined by eight other Democratic senators. Hogg said he didn’t invite Republicans, but believes there are GOP senators who oppose HF 561.

The bill mandates MidAmerican to apply for ratemaking principles to design, license, permit and construct a nuclear power plant, said Bolkcom, a member of the Commerce Committee that voted 8-7 to send HF 561 to the full Senate. Once approved by the Iowa Utilities Board, MidAmerican could immediately begin collecting costs and profits “for simply trying to build a nuclear power plant,” he said.
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Read more: http://www.kcrg.com/news/local/Iowa-Senators-Warn-Of-Financial-Risk-If-Nuclear-Plan-Approved-143509216.html

[Old and In the Way]

1. "You get the cost and risk while MidAmerican gets the profits"

That should be the basis for all public decisions, involving taxpayer money.

[Bluzmann57]

2. Ol' Warren Buffet knows how to make money

And since I have Mid American energy powering this very computer and my entire house, some of it is mine.
They (Mid American) have started a HUGE ad campaign to try and rationalize, er, explain why they need a rate increase and MAYBE build a nuclear plant. The way I see it, is that we have been well lit for many years without a nuclear plant, why do we need one now? And the siuts have enough money. I don't. Let me try and keep some of mine.

[nykym]

3. Ohh Ohhh it's right on the tip

of my tongue....Don't tell me it's, it's, it's a
SCAM!

[JDPriestly]

4. The flood last year on the Missouri River which put a reactor in danger

showed who pays when something goes wrong with nuclear energy: the farmers. They lose their land and their livelihoods.

Let the Midwest fuel itself using its corn and grasses.

Let the Southern Southwest fuel itself using the sun supplemented by small quantities of local oil.

Let the Northeast use its wind and water.

Let the Mountain states and the Northwest use its water.

Each area has a source of energy that can be used relatively safely without destroying our environment any more than we have to.

The only thing stopping this intelligent approach to energy production is the greed of the energy, oil, gas and nuclear industries.

[murielm99]

6. The Midwest can fuel itself with wind, too.

We are already doing some of that.

However, as I look to my northeast, I see the Byron nuclear plant. We don't need any more of those!

[madrchsod]

7. well not in lee county...

the koch bros funded anti wind power people are trying their best to kill wind power

[Kelvin Mace]

5. OK, here's the deal

AFTER the plant is built, and generating power, you get the rate hike.

[madrchsod]

8. a minimum of 10 billion in cost

at least 5-10 years before it`s turned on and producing energy. opps! i forgot ..the public has to pay for the insurance.

i have`t driven across iowa in a few years but i do remember it`s pretty dam flat and windy.....

[Grins]

9. Wow! Right out of "Shock Doctrine"

Didn't anyone of them read that book? It's filled with sweetheart deals like this.