Southern Co. setting stage to build new reactors

[Ed Barrow]

Southern Co. announced Friday that it is accepting $8.3 billion in federal loan guarantees from the federal government, setting the stage for the construction of the first new nuclear reactors in the United States in a generation. The loan guarantees are contingent on the project in Burke County winning approval from the U.S. Nuclear Regulatory Commission.

Southern Co. Chief Executive David Ratcliffe on Friday called the agreement "another step forward on the road to nuclear power playing a prominent role in America's energy future."

President Barack Obama announced in February that the Atlanta-based energy powerhouse would be the recipient of the first nuclear loan guarantees, part of the Democrat's push for more non-fossil fuel energy. The company was selected despite lobbying heavily against cap and trade legislation championed by the Obama administration to combat climate change.

The Knoxville, Tenn.-based Southern Alliance for Clean Energy blasted the announcement on Friday calling the development a "raw deal for taxpayers."

"(T)his is what it takes to build new nuclear reactors -- lots of handouts and bailouts to big companies along with closed-door negotiations," the group's executive director Stephen Smith said.


http://www.businessweek.com/ap/financialnews/D9GDURKO0.htm

[msongs]

1. while working people go homeless the nuclear corporations get bailouts from their buddy Barack.nt

[bananas]

2. Southern Alliance for Clean Energy

http://blog.cleanenergy.org/2010/06/18/its-official-taxpayers-take-on-nuclear-risk/

[John Q. Citizen]

3. Lots of bailouts indeed.

[madrchsod]

4. 8 billion from the government so.....

where the up to 10 billion more coming from? a new plant with transmission line upgrades may reach 18 billion.

[kristopher]

6. This project is adding another reactor to an existing facility.

The loan guarantee covers most of the *forecast* cost and the rest is guaranteed by forcing ratepayers to accept all liability outside of what the Feds assume - including the highly probable cost overruns.

[AdHocSolver]

5. Building nuclear plants is comparable to drilling for oil under thousands of feet of water.

We have the technology to do it safely and economically. Nothing can go wrong.


Do I really need this? ===>> :sarcasm: