NRG to write down South Texas nuclear investment - Forbes.com In a related note http://blogs.forbes.com/christopher...-dirty-coal-plants/?partner=relatedstoriesbox
Thank you for the post. I have been impressed with NRG after seeing the CEO talk about their energy strategy on TV. Hope they can take this set-back in stride. Seems like nuclear will be slowed until we decide, among other things, how to dispose the waste. This decision will likely go about as fast as fixing the US budget.
I'm not sure it is really a set back. NRG had trouble finding partners because the project had high risks of cost over runs. The success of project depends on the price of electricity going up in the future. They may be better off taking a hit now then lose billions on the plant. Plans were drawn up when the price of natural gas was higher. The stock did not move in after hours trading. Its probably a relief for the pr machine to talk about other things than how the reactors will be safer than those in japan.
And they just lost a large partner -- TEPCO, the owner of the destroyed Fukishima plants. Even if there was no concern about TEPCO's survival, safety credibility would be enough reason to severe the partnership.