San Antonio Express-News coverage of NRG withdrawal

The South Texas Project nuclear power plant in Bay City  is looking to expand with two more reactors. / SA

San Antonio Express-News coverage of the NRG decision:

NRG Energy stopped all spending on the South Texas Project nuclear expansion and will write off its investment in the face of deeply diminished prospects for the project since Japan’s worst-ever nuclear accident.

“The project is not dead,” CEO David Crane said Tuesday, “but it’s not moving forward at this point, and to be frank, under the current circumstances, the reality of it moving forward in the foreseeable future is not high.”

The company plans to record a first-quarter pre-tax charge of about $481 million from Nuclear Innovation North America, its joint venture with Toshiba, NRG said. Toshiba funded $150 million of that.

NINA will continue to seek an operating license from the Nuclear Regulatory Commission, Crane said, as well as a federal loan guarantee from the Energy Department.

He called that decision “smart asset management,” saying he could see a time when the project near Bay City, with a license and loan guarantee in hand, will be attractive to new investors.

Link: http://www.mysanantonio.com/news/energy/article/NRG-will-no-longer-invest-in-STP-expansion-1343841.php

(Think the main reason I sent this is because of the picture. Too good to waste. Only thing missing is that crow noise that The Simpsons always uses when the Springfield Nuclear Power Plant is depicted.)
 
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About Robert Singleton

By day, I work for a call center. In my spare time, I try to save my hometown (and planet) from a nearly constant onslaught of greedheads, lunatics and land developers. I live in a fictional town called Austin, Texas, where I go to way too many meetings.
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