3 ms·
Because they simply could not be economically built, it's not all fun and games to light the ratepayers money on fire. That lead to the first SMR craze from a r
by Gwypaas 5y ago
Because they simply could not be economically built, it's not all fun and games to light the ratepayers money on fire. That lead to the first SMR craze from a reeling industry, with nothing to show for it.
From https://en.wikipedia.org/wiki/Nuclear_power_in_the_United_States https://en.wikipedia.org/wiki/Nuclear_power_in_the_United_St...
By the mid-1970s it became clear that nuclear power would not grow nearly as quickly as once believed. Cost overruns were sometimes a factor of ten above original industry estimates, and became a major problem. For the 75 nuclear power reactors built from 1966 to 1977, cost overruns averaged 207 percent. Opposition and problems were galvanized by the Three Mile Island accident in 1979.[48]
Over-commitment to nuclear power brought about the financial collapse of the Washington Public Power Supply System, a public agency which undertook to build five large nuclear power plants in the 1970s. By 1983, cost overruns and delays, along with a slowing of electricity demand growth, led to cancellation of two WPPSS plants and a construction halt on two others. Moreover, WPPSS defaulted on $2.25 billion of municipal bonds, which is one of the largest municipal bond defaults in U.S. history. The court case that followed took nearly a decade to resolve.[49][50][51]
Eventually, more than 120 reactor orders were cancelled,[52] and the construction of new reactors ground to a halt. Al Gore has commented on the historical record and reliability of nuclear power in the United States:
"Of the 253 nuclear power reactors originally ordered in the United States from 1953 to 2008, 48 percent were canceled, 11 percent were prematurely shut down, 14 percent experienced at least a one-year-or-more outage, and 27 percent are operating without having a year-plus outage. Thus, only about one fourth of those ordered, or about half of those completed, are still operating and have proved relatively reliable."[53]
[...]
A cover story in the February 11, 1985, issue of Forbes magazine commented on the overall management of the nuclear power program in the United States:
"The failure of the U.S. nuclear power program ranks as the largest managerial disaster in business history, a disaster on a monumental scale … only the blind, or the biased, can now think that the money has been well spent. It is a defeat for the U.S. consumer and for the competitiveness of U.S. industry, for the utilities that undertook the program and for the private enterprise system that made it possible."[55]