5 ms·
> [0] Fukushima is around $80B-$200B, the US nuclear insurance coverage is $15B. Chernobyl was around $200B. So you speak about $400B, lets consider it upper b
by adev_ 3y ago
> [0] Fukushima is around $80B-$200B, the US nuclear insurance coverage is $15B. Chernobyl was around $200B.
So you speak about $400B, lets consider it upper bound and even up to $500B by adding the cost Three Miles island incident and the various minor ones around the world.
Spread over 60 years of the humanity nuclear power usage, that makes us an insurance cost of 8.3 billions dollar per year at world scale.
So the risk cost $8.3B per year at world scale for a source of energy that generate 25% of the world low-carbon electricity [1] and make us save around 470 millions tons of CO2 per year [2].
To put things into perspective: the US spend $150B in natural disaster cost coverage per year alone [3]
The EnergyWende of Germany alone cost around $40B per year.
And the cost of the death related to fossil fuel emissions in modern history is estimated at $1.7T in the OECD alone [4].
So I think it is fair to qualify $8.3B/year for a nuclear energy insurance cost to be pretty cheap deal at humanity scale.
I would even qualify it to be ridiculously cheap.
Your sentence "Nuclear power plants are nowhere near insured to risk" is pretty typical of the anti-nuclear argumentation: Mainly based on feelings not on facts.
Based on facts, it is currently plain wrong.
[1]: https://world-nuclear.org/information-library/current-and-future-generation/nuclear-power-in-the-world-today.aspx https://world-nuclear.org/information-library/current-and-fu...
[2]: https://world-nuclear.org/information-library/current-and-future-generation/nuclear-power-in-the-world-today.aspx https://world-nuclear.org/information-library/current-and-fu...
[3]: https://www.climate.gov/news-features/blogs/beyond-data/2022-us-billion-dollar-weather-and-climate-disasters-historical https://www.climate.gov/news-features/blogs/beyond-data/2022...
[4] https://www.oecd-ilibrary.org/docserver/d1b2b844-en.pdf?expires=1700223005&id=id&accname=guest&checksum=DB09C5BE1BF2728B8F15789BCF8AC207 https://www.oecd-ilibrary.org/docserver/d1b2b844-en.pdf?expi...
- gimili 3y agoI like the calculation; makes things more clear. However, to your last point: You are saying that nuclear power plants then are insured to risk. Can you point me in your sources to the place where it is shown how nuclear power plant operators today then are insuring "to risk" the risk of nuclear disaster and all costs and risks of the disposal?
- lesuorac 3y agoNot OP but I do think you have a false equivalence here. Coal plants don't cover the costs and risk associated with the disposal of their _nuclear_ waste as well as their CO2 waste. They just vent it out into the atmosphere. https://www.epa.gov/radtown/radioactive-wastes-coal-fired-power-plants https://www.epa.gov/radtown/radioactive-wastes-coal-fired-po...
- KingOfCoders 3y ago"Based on facts, it is currently plain wrong." No. "Your sentence "Nuclear power plants are nowhere near insured to risk" is pretty typical of the anti-nuclear argumentation: Mainly based on feelings not on facts." A: Fukushima is costing $200B B: US nuclear power plants are insured for a payout of $15B A+B: US power plants are underinsured by $185B (Germany had $0.25B insurance company payouts and $2.25B coverage by energy companies, so a nuclear plant was underinsured by $197.5B or ~99%, or 99.8% if you count insurance company payouts only). Moving goal posts, hand waving, talking about my feelings (thanks for caring!), personal attacks and sources unrelated to nuclear power plant insurance doesn't explain the fact away, that "Nuclear power plants are nowhere near insured to risk". PS: "EnergyWende" is not a German word. While Java is using Camelcase, German is not using Camelcase.
- adev_ 3y ago> EnergyWende" is not a German word. While Java is using Camelcase, German is not using Camelcase. Quick question, outside of the necessity of CamelCase. Are water dam operating companies insured up to the damages of a damn rupture ? Like in the case of the Vajont damn in Italy ? Even for your car insurance: Will your insurance pays for the society cost of two disabled persons for life after you hit them when your tire exploded ? Quick answer: No. In both case, the society will pay. Nuclear is no different.
- KingOfCoders 3y agoWhataboutism [0] Nuclear power plants are massivly underinsured. That was my point. [0] https://en.wikipedia.org/wiki/Whataboutism https://en.wikipedia.org/wiki/Whataboutism
- hef19898 3y agoCheck your car insurance, personal damage is insured at double sigit millions, for example in Germany. So yes, cars are fully insured. Nuclear isn't and never was, insurance maths knows no mercy.