"I'm skeptical the (Duke-Progress) merger will make much difference," said John Parsons ...

[bananas]

the U.S. Energy Information Administration last month increased its 2009 estimate by 37 per cent - ouch!

https://secure.globeadvisor.com/servlet/ArticleNews/story/gam/20110117/RBAGENDANUCLEAR0117ATL

Why the nuclear renaissance is at risk of going up in smoke
Monday, January 17, 2011
With governments unwilling to shoulder the financial risks, nuclear plants are becoming a tough sell
SHAWN McCARTHY
OTTAWA -- GLOBAL ENERGY REPORTER

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In announcing their proposed merger last week, two North Carolina-based utilities, Duke Energy Inc. and Progress Energy Inc., say the combined company would possess the added heft needed to finance three planned nuclear projects.

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Executives at Duke and Progress say the combined company would face lower borrowing costs on its nuclear projects, and be better able to take on the associated financial risk. But other roadblocks loom.

"I'm skeptical the merger will make much difference," said John Parsons, director of the energy and environment program at the MIT Sloan School of Management.

He said nuclear is increasingly seen as uncompetitive with natural-gas-fired plants as gas prices fall and global construction costs soar. In 2009, MIT doubled its forecasted construction costs of new nuclear plants, while the U.S. Energy Information Administration last month increased its 2009 estimate by 37 per cent.

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