this post was submitted on 28 Dec 2023
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I wish that were true. Nuclear plants built in the 60s and 70s (but still operating today) was losing money in Ohio. So the power companies bribed the Republican Ohio Speaker of the House $60 million dollars to pass a law that citizens have to pay extra fees totally over $1 billion dollars to power plants so that power companies can make a profit on nuclear. The bill was passed, and signed into law by the governor of Ohio, and years passed before the investigation found the bribery scandal.
That former Ohio Speaker of the House was sentenced to 20 years in prison finally.
The bad bribed-passed law is still on the books in Ohio and citizens are still paying extra to artificially make nuclear profitable for the power company. Here's just a small source for the whole sorted story..
So no, even old built nuclear power plants are still more expensive that nearly all other electricity sources in the USA.
They've had to keep upgrading them - the percentage of nuclear is the same, but no new plants have been built, so that extra power has come from research on how close to the red line they can actually run.
New reactors just came online in Georgia this year. A $15 billion dollar planned project that cost $30 billion with overruns.
So new or old, nuclear is really expensive electricity.
A coal power plant is rougly the same cost per GW as solar or wind, doesn't mean we should build more of them. I agree it's expensive, but so were solar and wind a couple decades ago. Government investment helped research, development, scaling up - imagine if that had been done in the '80s, we wouldn't be building natural gas plants right now.
Incorrect. Costs listed per KW of generation:
source
The first commercial nuclear power plant in the USA came online in 1958. source That's 66 years ago. If time was going to make it cheaper we would have seen that by now. Instead the most recent reactors to come online, which occurred just this year, were projected to cost $14 billion and instead are cost $31 billion! Even worst, this isn't an entirely new nuclear power plant, its just two additional reactors at an existing operational plant. source
Nuclear just costs too much for what you get at the end.
Here's the summary for the wikipedia article you mentioned in your comment:
Different methods of electricity generation can incur a variety of different costs, which can be divided into three general categories: 1) wholesale costs, or all costs paid by utilities associated with acquiring and distributing electricity to consumers, 2) retail costs paid by consumers, and 3) external costs, or externalities, imposed on society. Wholesale costs include initial capital, operations & maintenance (O&M), transmission, and costs of decommissioning. Depending on the local regulatory environment, some or all wholesale costs may be passed through to consumers. These are costs per unit of energy, typically represented as dollars/megawatt hour (wholesale). The calculations also assist governments in making decisions regarding energy policy. On average the levelized cost of electricity from utility scale solar power and onshore wind power is less than from coal and gas-fired power stations,: TS-25 but this varies a lot depending on location.: 6–65^article^ ^|^ ^about^
Ah, perhaps my source was off. Thanks for the additional data.
But looking at it another way, nuclear is less than twice coal. Estimating the cost of that georgia plant would put it at $16-17B, so those overruns would be atypical.
But my main point on cost is that government investment has been lacking in nuclear compared to renewables: https://www.forbes.com/sites/robertbryce/2021/12/27/why-is-solar-energy-getting-250-times-more-in-federal-tax-credits-than-nuclear/?sh=4a783c3221cf
Without investment, it's going to stay just as expensive. And the main regulating body not having a mandate to develop the technology has just been holding us back.
Besides maybe coal