Westinghouse Files For Bankruptcy, In Blow To Nuclear Power (reuters.com)
An anonymous reader quotes a report from Reuters: Westinghouse Electric Co, a unit of Japanese conglomerate Toshiba Corp, filed for bankruptcy on Wednesday, hit by billions of dollars of cost overruns at four nuclear reactors under construction in the U.S. Southeast. The bankruptcy casts doubt on the future of the first new U.S. nuclear power plants in three decades, which were scheduled to begin producing power as soon as this week, but are now years behind schedule. The four reactors are part of two projects known as V.C. Summer in South Carolina, which is majority owned by SCANA Corp, and Vogtle in Georgia, which is owned by a group of utilities led by Southern Co. Costs for the projects have soared due to increased safety demands by U.S. regulators, and also due to significantly higher-than-anticipated costs for labor, equipment and components. Pittsburgh-based Westinghouse said it hopes to use bankruptcy to isolate and reorganize around its "very profitable" nuclear fuel and power plant servicing businesses from its money-losing construction operation. Westinghouse said in a court filing it has secured $800 million in financing from Apollo Investment Corp, an affiliate of Apollo Global Management, to fund its core businesses during its reorganization. Westinghouse's nuclear services business is expected to continue to perform profitably over the course of the bankruptcy and eventually be sold by Toshiba, people familiar with the matter said. When regulators in Georgia and South Carolina approved the construction of Westinghouse's AP1000 reactors in 2009, it was meant to be the start of renewed push to develop U.S. nuclear power. However, a flood of cheap natural gas from shale, the lack of U.S. legislation to curb carbon emissions and the 2011 Fukushima nuclear accident in Japan dampened enthusiasm for nuclear power. Toshiba had acquired Westinghouse in 2006 for $5.4 billion. It expected to build dozens of its new AP1000 reactors -- which were hailed as safer, quicker to construct and more compact -- creating a pipeline of work for its maintenance division.
Im pretty fucking impressed with him too. Mr Westinghouse invented the hosts file, as you all know. Without that, you'd be out of a job.
Natural gas doesn't make sense everywhere. In places where there aren't natural gas pipelines nearby, or coal mines, or hydropower, nuclear still makes sense.
Nuclear power has gone from "too cheap to meter" to "too expensive to matter"
Everything (coal, gas, wind, solar) is cheaper than nuclear.
I don't read your sig. Why are you reading mine?
The Japanese own our Nuclear Power Plant Construction Companies
The Russians own our Uranium.... such a great job Obama and Hillary did
Those sales should have been stopped
Toshiba acquired Westinghouse in 2006.
Bush was president and Republicans controlled Congress.
Nuclear power is needed because wind power, solar power, and hydro power alone are insufficient to meet the world's demand for electricity.
Even if lefties don't like to admit it, the reality is that nuclear power is one of the most effective and efficient ways of generating large amounts of electrical power.
And keep in mind that a well-designed power generation network draws from numerous sources of energy. Yes, coal is currently one of these sources. It's smart and responsible for President Trump to include it within America's energy generation infrastructure. It will provide at least some redundancy in case there are disruptions to the availability or economic viability of oil, natural gas and/or uranium in the future. Increasing America's energy independence is an extremely important goal, regardless of your political beliefs.
The Japanese own our Nuclear Power Plant Construction Companies
The Russians own our Uranium.... such a great job Obama and Hillary did
Those sales should have been stopped
Toshiba acquired Westinghouse in 2006.
Bush was president and Republicans controlled Congress.
Obama is responsible for every bad thing that's happened to an American from the day he engineered his own birth; Hillary shares responsibility starting from the day she first had sex with Bill Clinton
Pain is merely failure leaving the body
Umm. You put a natural gas power plant near the pipeline and then put the power on the transmission grid. Same with coal, hydropower or nuclear. The power grid makes location a non-issue.
Have gnu, will travel.
power from space now, like Solaren promised we'd have by 2016, right??
The Russians own our Uranium
Canada and Australia are major producers. And what do you mean by "our" uranium? It's not ours until we buy it.
Have gnu, will travel.
Costs for the projects have soared due to increased safety demands by U.S. regulators, and also due to significantly higher-than-anticipated costs for labor, equipment and components.
So, out of everything they could have gotten wrong: labor, equipment, and components, +schedule, they managed to get it all wrong. We're talking about a systemic failure across the board. WTF is wrong with these people? I shudder to think what would happen if these clowns ever brought a reactor online, probably a meltdown within six months. Maybe the orange clown will ease regulations to facilitate these wizards of business failure bringing their shitty plans to fruition, maybe we'll get lucky and have four meltdowns all at the same time. The bonus there would be a lot of orange animals, people, and shrubbery, making the cheeto messiah feel right at home.
Only I can judge you.
Westinghouse took a huge risk when they bought the CB&I Stone and Webster construction company that was building the reactors in the USA. They didn't examine their accounts properly and the construction company was hiding huge debts. Since Toshiba bought Westinghouse, to get the AP1000 reactor design, they inherited that financial burden. Given the news from Toshiba last year you had to know the shakedown at Westinghouse would come eventually. Toshiba bet a lot on this deal and they lost tremendously. This will setback nuclear power R&D in the West for like a decade at least.
The nuclear reactors in the USA are being built under a fixed price contract. With all the changes that were required to the design, because of regulation changes, plus the fact that no one had built a lot of new reactors in the USA in decades, meant there was a high risk with a deal like that. Couple that with the oil price and natural gas price crashes and the deal is pretty bad. They probably thought they would recoup the losses with further reactor construction in the USA in the future once these initial reactors were built and their licensing was done and construction knowledge improved but there's little chance of it happening anymore.
Still there are going to be like four reactors of this same AP1000 design going online in China this year at two locations. Plus the Chinese already have a license to build an enlarged version of it they call the CAP1400 for which they intend to do serial production in relatively large amounts. So even if these are the last AP1000 reactors to be build in the USA, construction of the licensed designs will continue in China. The Chinese don't have a lot of natural gas, unlike the USA, and given the air pollution issues they have in their large coastal cities, they have few alternatives to nuclear if they want to reduce atmospheric pollution.
You seem to think it is cheap to build high capacity power lines. It isn't. In fact its more expensive than to build a natural gas pipeline to transfer the same amount of energy.
In fact its more expensive than to build a natural gas pipeline
[citation needed]
I've done some engineering on HV transmission lines. They are not that expensive. About $250K per mile back in my day. Natural gas pipelines cost about a million a mile IIRC.
Have gnu, will travel.
Power lines have more transmission losses and worse energy density than a natural gas pipeline.
I think he may have been using voice-to-text.
You are welcome on my lawn.
Umm. You put a natural gas power plant near the pipeline and then put the power on the transmission grid. Same with coal, hydropower or nuclear. The power grid makes location a non-issue.
As usual, when someone gives a simple answer it's often wrong. We have a power grid that spans the country already and here's a map of it: http://www.npr.org/2015/09/10/...
But, transmission loss over distance is a very real thing that destroys efficiency and forces regions to have their own "local" power sources. So the source of electricity in the grid is vastly different depending on what region or state you are in. Here's a breakdown of the source of each US state's power grid: http://www.npr.org/2015/09/10/...
Its difficult to imagine a fusion plant being less expensive to build or operate than a fission plant. Even if we can figure out how to get net energy gain from fusion it may never make economic sense.
Its too bad, I wanted a nuclear powered future, with fission gradually being replaced by fusion of the next century. Doesn't look likely.
Nuclear has great potential in long distance spacecraft propulsion, but it just doesn't look very economically practical for terrestrial use.
Power lines have more transmission losses
Maybe. But the increased capital cost to improve the line efficiency isn't worth the effort. And it's pretty cheap to increase power line efficiency. Double the voltage and the power loss goes down by a factor of four.
and worse energy density than a natural gas pipeline.
That doesn't make sense. We built a combined cycle natural gas plant. The pipeline in cost about a million a mile. The transmission line out was about a quarter of that. Figuring a 50% efficiency, the gas line was twice as expensive as the power line.
Have gnu, will travel.
Solyndra went bankrupt because its initial business plan did not take into account the level of Chinese manufacture, subsidy, and eventual dumping (which also did not exist at the time Solyndra was a nascient enterprise in the planning stages).
There is no America. There is no democracy. There is only IBM and AT&T and DuPont, Dow, General Electric, and Exxon
Self inflicted - this folks is exactly what happens when you spend far more on PR than on R&D.
Westinghouse could be rolling in cash selling something far better than their antiquated AP1000 design to an energy hungry China, but they chose instead to slap some green paint on something from the 1970s and call it done.
Westinghouse lobbied AGAINST government nuclear research during the Clinton administration because it was using Thorium and Westinghouse wanted to use their Uranium designs as long as possible. They saw Thorium as a threat to their business model.
The US nuclear lobby ate their own children and this is the expected consequence.
Spending more on PR than R&D for a couple of decades and sacking most of the people who know how to design reactors was a bad idea.
and so long as that's true I'll be against it. With any Nuclear power plant you're gonna have massive maintenance costs and a conga line of capitalists ready to promise the free market will lower those costs. Then they'll do what they did in Fukushima: Ignore maintenance and run the plants far beyond their lifecycle until a disaster blows up in their faces. And they'll get away scott free because nobody nowhere anywhere every hold the wealthy accountable (and no, the Fukushima folks haven't been held accountable; 6 years and counting. And no, a few inquires that are going precisely nowhere don't count).
Find a way to get people to oppose privatization of public resources or a way to make it cheaper to run a safe plant than an unsafe one. Until then Nuclear can go suck eggs.
Hi! I make Firefox Plug-ins. Check 'em out @ https://addons.mozilla.org/en-US/firefox/addon/youtube-mp3-podcaster/
Isn't it lucky that we already have a lot of them and that more are being built all of the time.
Look up HVDC. It is on wikipedia now.
HVDC has become a "real thing" since you went to school (or it was under the radar of your teachers). It's not just computers that have progressed.
Ah, another Infowars/Fox "News" fan. A mining operation owned by Russian company has rights to mine a percentage of the uranium in our country -- which they then must sell to the U.S.
Please get you facts straight.
*** *** You're just jealous 'cause the voices talk to me... ***
Please stop using the word "facts" when responding to right-wing trolls as it triggers their delicate sensibilities. Trolls require a safe space to protect themselves from their own snowflake's sharp corners.
Freedom to fear. Freedom from thought. Freedom to kill.
I guess the War on Terror really is about freedom!
You do realise that natural gas pipelines basically use jet engines to pump that gas?
"It's such a fine line between stupid and clever" -- David St. Hubbins, Spinal Tap
Several interesting things in this article but I'll just mention the part about shale.
A few years back the story was peak oil and we were going to have a major energy crisis. With the prospect of more expensive energy shale became more interesting but at the same time everyone else was also looking at other sources of energy, renewable and other, and other things happened, like Iran's oil becoming more available. And now we have low oil prices over an extended period of time. Shale is not the cause of the nuclear energy glut, it's one of the victims. Shale can only be viable if energy cost is high enough.
As for the future of nuclear power, it's been going downhill since the eighties. Western nuclear energy got a severe blow with Chernobyl and after Fukushima western nuclear energy is dead. In the far east, mainly China it's got a future.
Did Trump by allowing more carbon pollution cause the nuclear sites to be less than competitive? Did he just cost a lot of workers their jobs?
Gas pipelines don't suffer transmission losses.
Unicode killed the ASCII-art *
What ? You think DC lines don't have losses ?
DC lines are cheaper because they need less wires - you can use the ground as a return wire, and a lighter, smaller cable can carry power over the same distance. There's a downside though - anything generator by a dynamo (that's basically everything except solar) generates AC. So to use DC you have to build rectifiers on one end and then put an alternator on the other end to make it useful to all the AC based tech you want to power. That adds a (huge) cost, so HVDC only makes sense over long enough distances that the savings in cabling exceed the new costs in conversion. HVDC isn't that new anyway. The line between the Cabora-Bassa hydropower station in Mozambique and Johannesburg in South Africa is an HVDC line and that was built in the 1990s.
But HVDC still has losses because the main cause of losses is the fact that conductors have resistance. We're a LONG way from superconductors that are cheap enough to build lossless long-range powerlines out off. Just the cooling for current ones would make it prohibitively expensive. Frankly it's unlikely that will ever happen - we've had a hundred years of designing grids around mostly using relatively nearby power sources. The only way it would make sense to go build a line like that is if you discovered some kind of power generator that produced enough power for the whole world at near-zero cost, but it only worked in one place (yeah, I'm not even going to guess what that might be).
Unicode killed the ASCII-art *
They get blamed for what they DID do. The fact that they DID do fuckups doesn't mean it's Obama's fault, nor that it's political partisanship that you engage in therefore project onto all others to make you feel less like a shithole at play.
When Bush fucks up, he fucked up. Get over it and stop going "Oh, you're just blaming the opposition of your politics!".
Hillary shares responsibility starting from the day she first had sex with Bill Clinton
...but I thaugh Monica was the one having "not sex" with him ?
"Sufficiently advanced satire is indistinguishable from reality." - [Tips: 1DrYakQDKCQ6y52z6QbnkxHXAocMZJE61o ]
Yes. Perhaps you should find out more and you will know why I mentioned it. There is no point attempting to lecture somebody on a topic that they have mentioned when you know very little about the topic yourself, it tends to annoy a great deal. Please take another look at wherever you pasted some text from.
Power lines have more transmission losses
The total losses in transmission in the USA are less than five percent. It's worth it just to avoid having a pipeline, let alone to save the cost of building a pipeline.
"You're right," Fisheye says. "I should have set it on 'whip' or 'chop.'"
Just build coal stations. AGW is a chinese/hippy illuminati conspiracy anyway (delete as appropriate). Coal makes more radioactive waste than nuclear so you don't even have to miss out on radioactive pollutants. It's a win/win.
I do not want your cheap brainburning drugs. They are useless for work. And I am a working man today.
Coal is dying, it's was more a matter of Trump allowing a graceful natural death or Obama's accelerated forced death.
Apocalypse Cancelled, Sorry, No Ticket Refunds
Don't know if you know this, but coal is buried carbon deposits from millions of years ago.
In other words, natural trash.
Apocalypse Cancelled, Sorry, No Ticket Refunds
Not only did you ignore the subject you've now ignored what I quoted.
Perhaps it would have been better for everyone if you had ignored my post above entirely instead of jumping on it in some attempt to prove your superiority.
Take a look at the wikipedia article on HVDC or ask your Dad. A distance of 2,385km seems to be very long to me.
Sure they do. Significant energy is required to pump the gas; that energy is lost in the process. There's no free lunch to be had just because gas moves in a pipeline. Same goes for oil.
I've fallen off your lawn, and I can't get up.
Why would I need to "accept" a point I never argued AGAINST ? The fact is that whether it is better to bring the gas closer and build a nearby generator or build a generator near the gas and run a long line doesn't have ONE answer. It depends entirely on the specifics of the situation.
What's the terain like between the gas and the town ? It's generally easier and cheaper to run a line over a mountain than a pipe. How far apart are they ? Too far and a pipeline will beat a transmission line every time.
And that has been my point all along. Sometimes - it will be better to run a line, sometimes it will be better to lay a pipe - and sometimes it will be better to send the gas somewhere else and use some other resource to service this particular town.
Unicode killed the ASCII-art *
Mr Westinghouse also invented the Air Brake, without that all of our trains and heavy trucks would run away and crash.
Apocalypse Cancelled, Sorry, No Ticket Refunds
With the greatest possible respect that choice is not going to be considered if all the gas is going to do is run a generator. A pipeline is a vastly more difficult project than a transmission line.
I really do not get why you decided to jump on my post and also decided to make cracks about me needing to invent perfect stuff with zero losses.
Then they should have stayed under the bridge.
One man's trash...
He's getting rather old, but he's a good mouse.
The thing about multi-national companies is that they can do stuff in other places even if no nukes are getting built in the US.
O did not accelerate. Nothing he has done has impacted coal one way or another.
I prefer the "u" in honour as it seems to be missing these days.