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Nuclear power holds new promise in the United States
Annals of Nuclear Energy 30 (2003) 951–952 www.elsevier.com/locate/anucene
Correspondence
Nuclear power holds new promise in the United States Just a decade ago, nothing seemed more a harbinger of bad news in the United States than nuclear power. We read constantly about the trials and tribulations of the nuclear power industry. Pundits argued that competitive cost pressures in a deregulated electric industry, rather than the old concerns about safety and nuclear waste, would bring the nuclear industry to its knees. That has not happened. Today, for example, Florida’s five nuclear plants—St. Lucie units 1 and 2, Turkey Point units 3 and 4, and Crystal River 3—provide nearly 20% of the state’s electricity, generating almost 4000 MW. And they are among the least expensive sources of power, providing electricity at less cost than even the newest power plants that burn natural gas. Far from being an atoms-for-peace relic heading for extinction, nuclear power, safe and reliable, sets the competitive benchmark for electricity generation. According to McGraw Hill’s Utility Data Institute, production costs at nuclear plants nationally have dropped dramatically in the past few years, and efficiency today is at an all-time high, resulting in generating costs that average 1.7 cents per kilowatthour (kWh), while electricity produced from natural gas costs nearly twice as much. Significantly, the lowest cost nuclear plants—which provide electricity for as little as 1 cent per kWh—generally boast the highest levels of safety, performance, and reliability. Nuclear power is growing, adding the equivalent of 23 large power plants over the past decade. Steady improvements in the efficiency of nuclear plants led to the production of 762 billion kilowatt-hours of electricity in 2001, up from 754 billion kilowatt-hours in 2000. What accounts for the turnabout? Refueling shutdowns that used to last several months before electric-industry deregulation are now completed in as little as 18–20 days. With improved safety and maintenance, nuclear plants now run nearly 2 years without shutdowns. Consequently, the financial community is recognizing that nuclear plants are increasingly attractive assets in a deregulated electricity market. Major utilities have been engaged in bidding wars to buy nuclear plants. And instead of shutting down, virtually every nuclear plant in the United States is expected to seek renewal of its operating license from the Nuclear Regulatory Commission. If that happens, 0306-4549/03/$ - see front matter # 2003 Elsevier Science Ltd. All rights reserved. PII: S0306-4549(02)00130-5
952
Correspondence / Annals of Nuclear Energy 30 (2003) 951–952
nuclear plants that currently provide 20% of the nation’s electricity are likely to provide at least that much in 2020. The current hope—and it is no more than that—is for a nuclear plant order in the next two to three years. The Energy Department estimates that the United States will need an additional 393,000 MW of electricity to meet a modest growth rate in power demand of 1.8% annually over the next 20 years. That would add 50% to our national electricity grid. Some of this new electricity capacity will need to be nuclear if the nation is to meet the power demands of a growing economy without polluting the air or increasing the level of greenhouse gases. Nuclear power produces no carbon dioxide or other airborne emissions, as does coal, oil, and even ‘‘clean’’ natural gas. The idea of building a new nuclear plant might seem like a pipe dream to some, but it is not. The NRC has pre-certified the designs of three types of advanced nuclear plants for construction. At least three utilities have designated existing sites for new units, and are seeking approval from the NRC under the commission’s new early site review process. One critical benefit of the new site review process is that it should take 18–30 months, whereas under old procedures securing permits to build and operate nuclear plants could take a decade or more to accomplish. Licensing reform provides an unusual opportunity. By building the next generation of nuclear plants, we can reduce our dependence on Middle East oil, we can ease the price pressure on electricity, we can help improve air quality and limit global warming, and we can strengthen the nation’s economy. By availing ourselves of the much greater energy resources of nuclear power, we would be taking an important step in showing that we are serious about ensuring electricity reliability and protecting the environment. Lynn E. Weaver President Emeritus and Professor of Electrical Engineering Florida Institute of Technology Melbourne, FL 32901, USA E-mail address: lweaver@fit.edu
Correspondence
Nuclear power holds new promise in the United States Just a decade ago, nothing seemed more a harbinger of bad news in the United States than nuclear power. We read constantly about the trials and tribulations of the nuclear power industry. Pundits argued that competitive cost pressures in a deregulated electric industry, rather than the old concerns about safety and nuclear waste, would bring the nuclear industry to its knees. That has not happened. Today, for example, Florida’s five nuclear plants—St. Lucie units 1 and 2, Turkey Point units 3 and 4, and Crystal River 3—provide nearly 20% of the state’s electricity, generating almost 4000 MW. And they are among the least expensive sources of power, providing electricity at less cost than even the newest power plants that burn natural gas. Far from being an atoms-for-peace relic heading for extinction, nuclear power, safe and reliable, sets the competitive benchmark for electricity generation. According to McGraw Hill’s Utility Data Institute, production costs at nuclear plants nationally have dropped dramatically in the past few years, and efficiency today is at an all-time high, resulting in generating costs that average 1.7 cents per kilowatthour (kWh), while electricity produced from natural gas costs nearly twice as much. Significantly, the lowest cost nuclear plants—which provide electricity for as little as 1 cent per kWh—generally boast the highest levels of safety, performance, and reliability. Nuclear power is growing, adding the equivalent of 23 large power plants over the past decade. Steady improvements in the efficiency of nuclear plants led to the production of 762 billion kilowatt-hours of electricity in 2001, up from 754 billion kilowatt-hours in 2000. What accounts for the turnabout? Refueling shutdowns that used to last several months before electric-industry deregulation are now completed in as little as 18–20 days. With improved safety and maintenance, nuclear plants now run nearly 2 years without shutdowns. Consequently, the financial community is recognizing that nuclear plants are increasingly attractive assets in a deregulated electricity market. Major utilities have been engaged in bidding wars to buy nuclear plants. And instead of shutting down, virtually every nuclear plant in the United States is expected to seek renewal of its operating license from the Nuclear Regulatory Commission. If that happens, 0306-4549/03/$ - see front matter # 2003 Elsevier Science Ltd. All rights reserved. PII: S0306-4549(02)00130-5
952
Correspondence / Annals of Nuclear Energy 30 (2003) 951–952
nuclear plants that currently provide 20% of the nation’s electricity are likely to provide at least that much in 2020. The current hope—and it is no more than that—is for a nuclear plant order in the next two to three years. The Energy Department estimates that the United States will need an additional 393,000 MW of electricity to meet a modest growth rate in power demand of 1.8% annually over the next 20 years. That would add 50% to our national electricity grid. Some of this new electricity capacity will need to be nuclear if the nation is to meet the power demands of a growing economy without polluting the air or increasing the level of greenhouse gases. Nuclear power produces no carbon dioxide or other airborne emissions, as does coal, oil, and even ‘‘clean’’ natural gas. The idea of building a new nuclear plant might seem like a pipe dream to some, but it is not. The NRC has pre-certified the designs of three types of advanced nuclear plants for construction. At least three utilities have designated existing sites for new units, and are seeking approval from the NRC under the commission’s new early site review process. One critical benefit of the new site review process is that it should take 18–30 months, whereas under old procedures securing permits to build and operate nuclear plants could take a decade or more to accomplish. Licensing reform provides an unusual opportunity. By building the next generation of nuclear plants, we can reduce our dependence on Middle East oil, we can ease the price pressure on electricity, we can help improve air quality and limit global warming, and we can strengthen the nation’s economy. By availing ourselves of the much greater energy resources of nuclear power, we would be taking an important step in showing that we are serious about ensuring electricity reliability and protecting the environment. Lynn E. Weaver President Emeritus and Professor of Electrical Engineering Florida Institute of Technology Melbourne, FL 32901, USA E-mail address: lweaver@fit.edu