Exelon may shut down nuclear plants in profit struggle

[Marlin]

Exelon may shut down nuclear plants in profit struggle


http://articles.chicagotribune.com/2014-02-06/business/chi-exelon-earnings-20140206_1_nuclear-plants-coal-fired-power-plants-power-prices

[Fermi2]

They are also thinking of chopping Ginna

[GLW]

time to warm up your EMC/EMT spreadsheets,....

[HydroDave63]

Exelon may shut down nuclear plants in profit struggle


http://articles.chicagotribune.com/2014-02-06/business/chi-exelon-earnings-20140206_1_nuclear-plants-coal-fired-power-plants-power-prices

Interestingly, the article shows that revenues and profits are mildly increasing. The impetus for this ominous warning would seem more likely that someone, somewhere WANTS nuclear to be 'twisting in the wind', so to speak 

[SloGlo]

aye am reeding the as a squeeze play on the grid to the greenies. threatening to close quad cities n clinton will bring out strong union voices to the potus and administration.

[RRhoads]

They didnt mention them by name in the all hands meeting today but the discussion was 2 more plants will probably be shutdown prematurely in 2014.

[HydroDave63]

I believe you, but it looks more like greed than necessity...right now this is tall cotton for energy markets, especially if you have inexpensive baseload that isn't dependent on nat gas or wind

Electricity prices in lower right column

http://www.eia.gov/todayinenergy/prices.cfm

[hiddencamper]

Exelon hedges their power sales 3 years in advance, so they aren't seeing very much if the high power prices over the last month.

There are plants in exelon that are negative even after looking 10+ years out using market models, and the models exelon has had for the last few years keep turning for the worst for the few units getting hit the hardest. Yes Exelon as a whole is making profits, but the individual plants in question have negative asset value and are in the red for several years or more. If you can see a long term path to profitability, it makes sense to lose money on an asset for a few years, but if you can't even see that, it becomes hard to justify keeping the plants open.

Anyways. That's my what i know

[cjaj123]

Would Exelon continue to hire as normal if it were possible they would shut QC and Clinton down? I have not worked for Exelon but am currently trying to get in as an Equipment Operator. I plan on asking, at my interview, questions specific to the plant as I want to be sure I am choosing the best location since I live within commuting distance of two plants. It is so costly for Exelon to hire and train new operators I wouldn't think they would do so if shutdowns were coming , would they? I don't have the insider knowledge that many of you here hold. Based on all the information I have seen on here over the last year while I have been doing my best to research the position, plant and company, it seems likely that you guys know whats going on or At least have a more educated assessment than I.

[GoHawks]

Would Exelon continue to hire as normal if it were possible they would shut QC and Clinton down? I have not worked for Exelon but am currently trying to get in as an Equipment Operator. I plan on asking, at my interview, questions specific to the plant as I want to be sure I am choosing the best location since I live within commuting distance of two plants. It is so costly for Exelon to hire and train new operators I wouldn't think they would do so if shutdowns were coming , would they? I don't have the insider knowledge that many of you here hold. Based on all the information I have seen on here over the last year while I have been doing my best to research the position, plant and company, it seems likely that you guys know whats going on or At least have a more educated assessment than I.

Have you been asked to test and interview?  You are worrying over nothing if you haven't

[Fermi2]

Yes they will hire as normal right up till they make the decision.

[cjaj123]

Thank you for the responses...and yes I have tested and been invited to interview.

[Nukeictech]

Kewaunee was still hiring operators pretty much right up to the last moment.  I believe one individual started about 1week before the announcement.  Overall I would have to say that Dominion has treated everyone that was at the plant at the time of the announcement very well, and still does for those who are still there.

[cjaj123]

Why are utilities not trying to sell the public on the idea of nuclear being an important component to reducing the carbon emissions of the U.S.? I have seen a few articles recently but as a whole even growing up in Northern Illinois, surrounded by nuclear plants, I have rarely heard anything about them in terms of the power they supply or greenhouse gases. I'm sure this is discussed on here somewhere so I'll go searching.

[Fermi2]

Doesn't matter what you can sell of the price is too high.
Funny thing is those utilities that run heating boilers put out more carbon emissions than a dirt burner with scrubbers and an Fgd

[cjaj123]

I have to research it. I have no idea what types of generation are truly the best for the environment. You can find articles claiming supporting each of them and just as many articles condemning each of them.

[Higgs]

Why are utilities not trying to sell the public on the idea of nuclear being an important component to reducing the carbon emissions of the U.S.? I have seen a few articles recently but as a whole even growing up in Northern Illinois, surrounded by nuclear plants, I have rarely heard anything about them in terms of the power they supply or greenhouse gases. I'm sure this is discussed on here somewhere so I'll go searching.

Do have 6-8 billion to build a new nuclear plant? Or are you expecting utilities to do it out of the goodness of their hearts?

It is not economically feasible to start new construction today.

Justin

[Marlin]

It is not economically feasible to start new construction today.

Justin

From the Nukeworker news feed..

http://nuclearstreet.com/nuclear_power_industry_news/b/nuclear_power_news/archive/2014/02/19/doe-approves-loan-guarantees-for-new-vogtle-reactors-021902.aspx#.UwVazcKYacw

[Fermi2]

That doesn't make it feasible as those loans are not available to every utility. It also proves the nuke industry cannot be economical without government subsidy.
For a better look witness Watts Bar. 2 billion over and 3 years behind

[GLW]

...The Nuclear Renaissance isn't over, its on pause.

Two biggest hurdles/liabiities for commercial nukes;

NIMBY - Northeast new construction? - not likely in my lifetime,...
           Southeast? - Lots of potential,...
           Southwest? - Texas yes, everybody else no,...
           Upper Midwest? - not likely in my lifetime,...
           Great Central Prarie? - not likely in my lifetime,...
           Rockies - no
           Pacific coast - no

Long Term Waste Storage - Without a long term central repository, or state by state long term repositories (my preference), liability of spent fuel/GTCC materials will be the ugly football that keeps getting kicked down the road from corporate fleets to corporate mergers to that notion in the back of everybodies head that high level waste liability is "too big to fail" and the government of the people will get stuck with it eventually anyways,.....................

[Marlin]

That doesn't make it feasible as those loans are not available to every utility. It also proves the nuke industry cannot be economical without government subsidy.
For a better look witness Watts Bar. 2 billion over and 3 years behind

A loan guarantee is a subsidy? There is still interest in nuclear it is just very schizophrenic.

[HalfHazzard]

A loan guarantee is a subsidy? There is still interest in nuclear it is just very schizophrenic.

If the loan doesn't get paid back, it becomes a subsidy real quick.

It's schizophrenic with the rise and fall of fossil prices.  I wish there would be a renaissance, but it always seems to be 5 years away.

[Marlin]

If the loan doesn't get paid back, it becomes a subsidy real quick.

  True but unlike solar and wind nuclear has never failed to pay a debt or cost the government anything through guaranteed loans or PAAA.

It's schizophrenic with the rise and fall of fossil prices.  I wish there would be a renaissance, but it always seems to be 5 years away.

   Add continued subsidies to green energy that may or may not work like the Ivanpah Solar Electric Generating Station, similar designed facilities are being canceled.


http://www.greenbiz.com/blog/2014/02/19/largest-solar-thermal-plant-completed-ivanpah

[Higgs]

From the Nukeworker news feed..

http://nuclearstreet.com/nuclear_power_industry_news/b/nuclear_power_news/archive/2014/02/19/doe-approves-loan-guarantees-for-new-vogtle-reactors-021902.aspx#.UwVazcKYacw

I said start new construction today. Those units are already in progress.

Justin

[Fermi2]

Yes it is a subsidy. My utility is planning a new fossil unit and guess what? No loan guarantee from the DOE. We have to foot the old fashioned way with a rate case,
Without loan guarantees and Price Anderson nukes wouldn't make it.