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by matthewdgreen
1155 days ago
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Even a 66.3% cost overrun would still make this project cheaper, and would be vastly less than the (so far) 200% overrun of Hinkley Point C. And I'm taking those numbers at your word, without poking into them for details. |
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Most nuclear power plants incurred time overruns, due to both engineering issues and public opposition. Considering the long development times of such plants and the large amount of capital required, these time overruns likely caused large increases in interest charges and contributed significantly to the large levels of overruns seen [29]. Moreover, as Table 3 indicates, the most severe cost overruns for nuclear power were confined to the United States and the 1980s, it is likely that they were significantly influenced by the nuclear power accidents at Three Mile Island and Chernobyl. These accidents resulted in “regulatory ratcheting” where safety requirements were significantly altered in the middle of construction periods, with meaningful impacts on equipment needs, construction designs, labor, and materials.
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After nearly 30 years of FUD and underinvestment I'm not surprised these projects now take longer. There's regulatory capture, political issues etc. It's possible that they now require safety levels way beyond any reason (Fukushima, commissioned in 1971, and hit by an earthquake and a tsunami at or exceding its safety baseline resulted in 1 death directly attributable to the accident).
Unfortunately, there are very few good-faith discussions around nuclear power, it's always emotionaly charged and manipulative. That's why you end up in situations like Germany: https://twitter.com/energybants/status/1647799729734971396