Same Story, Different Target

So what’s new? First, the press picked up the report

that almost 80 percent of the stimulus funds for wind and solar energy projects are going to support and sustain overseas jobs. 

Now, an anti-nuclear group claims that the Calvert Cliffs Unit 3 reactor will be controlled by a foreign company. Let us state:

1. Foreign control of a nuclear facility is a violation of the Atomic Energy Act. Constellation Energy and EDF have put safeguards in place so that ownership and nuclear safety matters remain with UniStar and under U.S. control. Period.
2. UniStar has chosen the AREVA U.S. EPR™ technology, since through careful analysis, we consider it the safest and best design on the market. Just because you buy a BMW or Mercedes, does that mean your driving habits are controlled by a foreign company? 
3. There was also concern that foreign technology risks the safety and quality of our facilities. Yes, the U.S. and Europe have different rules and regulations for energy facility construction – just like car manufacturers. If a manufacturer wants to sell their product in the U.S. they have to conform to U.S. standards. Rules and regulations for nuclear energy components are extremely strict. Whether manufactured here or overseas, they still need to pass U.S. certifications, inspections and assessments. Multiple times.  
4. More than $2 billion has already been spent in the U.S. to support domestic equipment and services for new reactors. In the U.S. however, we just don’t have the manufacturing capability that we had 30 years ago.  Even iconic American vehicles, such as the Ford Mustang or Dodge Ram are now considered imports
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   by the U.S. government, since less than 75% of their parts content is from the U.S.    To support the nuclear industry, AREVA, Alstom and others are building manufacturing facilities here to supply the U.S. nuclear energy industry – investing hundreds of millions of dollars, creating thousands of jobs. In the U.S. For Americans.
5.  So far U.S. workers in 40 states have been involved in the development of Calvert Cliffs 3. Once we break ground the project will create 4,000 construction jobs and 400 permanent jobs during the plant’s operation.
6. Loan guarantees for the nuclear energy industry (as well as renewable projects, transportation, shipbuilding and other critical areas) allow companies to access capital at lower interest rates than would otherwise be possible.  All loans must be paid back in full with interest
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   . Outside financial, technical and legal advisers analyze each application, and the creditworthiness of a project is measured based on the credit rating of its sponsor, capital structure, cash flow, etc.
7. Taxpayers footing the bill for the facility? Not for nuclear. The nuclear energy loan guarantee program
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   is not a subsidy. Unlike other federal loan guarantee programs, where the government actually pays some of the loan costs, developers of nuclear energy projects are required to pay the full cost of the loan guarantee and the full cost of administering the U.S. Department of Energy program. The loan guarantee application fee alone is $800,000, paid up front, non-refundable – just like the application fee from a bank when you apply for a mortgage.

While anti-nuclear energy people will remain vocal in their opposition, we just hope that those interested in learning the facts will look at both sides of the argument and educate themselves about the whole story of nuclear energy. It is encouraging that with the ever-growing public support for nuclear energy, many people have been reading and learning, and evaluating the best option for our growing electricity needs. And coming to a nuclear conclusion.

Tagged as: Alstom

, AREVA , Calvert Clfifs , CC3 , loan guarantees , UniStar