Nuclear economics expert comments on closure of Crystal River nuclear power plant by Duke Energy

Wednesday, Feb 06, 2013

WASHINGTON, Feb. 5, 2013 /PRNewswire-USNewswire/ -- Mark Cooper -- a leading U.S. expert on nuclear reactor financing who has testified at several Florida PSC hearings since 2009 – is available this afternoon to comment on the announcement by Duke Energy of plans to close their Crystal River nuclear reactor.  He issued the following statement today:

"The closure of the Crystal River plant should come as no surprise. The company's own report evaluating its ability to successfully repair damage to the reactor's concrete containment building concluded the risks associated with making necessary repairs could result in dramatic cost increases and extend the amount of time it would take for repairs to be completed.

However, still on the table is Duke Energy's plan for construction of the proposed Levy Country nuclear plant.  Even with the closure of Crystal River, there are several key reasons why it still does not make sense to construct this new reactor.

Mark Cooper is the senior fellow for economic analysis at the Institute for Energy and the Environment of the Vermont Law School.  He is the author of "Nuclear Safety and Nuclear Economics" (2012) and "Policy Challenges of Nuclear Reactor Construction, Cost Escalation and Crowding Out Alternatives" (2009).

SOURCE Mark Cooper