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As Vermont fights radioactive contamination from its leaking nuclear reactors, President Barack Obama has announced to pledge US$8.3 billion to build two more new reactors in Georgia.
Hailed as the 20th century's most expensive technological failure, Obama's initiative to put more taxpayer funds into nuclear technology hasn't faired too well with environmentalists.
Nuclear reactors aren't as cheap as they used to be
Additionally, the ever growing cost of building nuclear power plants sees no end. Originally, the budget was set for four nuclear reactors at the cost of $600 million. This has sky rocketed to $9 billion. Furthermore, there are talks of getting union labour involved in this Japanese JV project, something that could further inflate the total bill.
Why the astronomical price rise? Simply put, the nuclear regulatory commission has strictend rules. To meet these new standards, a lot of design changes had to be done. However with the failing other 27 of 104 nuclear reactors in the U.S., this is not something to complain about.
Show me the money: Georgia is not a good state to build a nuclear reactor
So the extra $8.3 billion will have to come out from taxpayer pockets? Yes, and right away. Georgia regulations require ratepayers to put money down during construction itself. This means that even before the construction license is issued, the money grabbing begins. With environmentalist blocks and the ever rising prices of building a nuclear reactor, by the time ratepayers get their first watt of electricity, the $8.3 billion budget would have blown up once again.
Energy experts believe that investing these funds on increasing efficiency of other forms of energy supplies would be money better spent, and in return be safer and provide more immediate jobs. Additionally, taxpayers may be gouged again for potential future accidents from these new reactors.
27 of the 104 nuclear reactors leaking in the United States
The Nuclear Regulatory Commission has confirmed that approximately 27 of the 104 nuclear reactors are leaking radioactive tritium. High levels of this nuclear waste have been found at test sites and further speculate that the Connecticut River may soon be a brewing pot of radioactive waste.
President Obama's decision has drifted far from his green initiative plans.
