It’s not just the nuclear power stations of today that are years behind and over-cost. This is one of many parts of the history of nuclear power that the nuclear industry wants forgotten. This was in the mid-1980s. Billions was a lot more then.
In 1984: “Electric rate increases of 25 to 50 percent or more are looming for millions of customers in nine states because of billions of dollars in excess costs at 14 nuclear plants scheduled for completion in the next few years.”
Once one of the Grand Gulf Nuclear Reactors was completed, it was 400% over budget, five years behind and was mostly unneeded. The second one was not completed. Louisiana, Mississippi, Arkansas and New Orleans fought because no one wanted to pay for it.
In 1985: “The issue is how much people here and in neighboring states will have to pay toward the cost of Grand Gulf I, a $3.4 billion nuclear power plant near Port Gibson, Miss., that is more than 400 percent over budget and five years behind schedule… politicians and utility officials in each of the states, which together make up one of the nation’s poorest regions, have been fighting bitterly among themselves over which state will be able to pay the least for the staggering cost of the plant.”
Then Governor Bill Clinton gave testimony in hearings. He explains the con-game which was run by what is now Entergy, and suggests that the share-holders should pay for what one Senator dubbed the Grand Gulf fiasco. He has been criticized for settling, but being from South Arkansas would have understood that people in Louisiana and Mississippi were very poor.
The impoverished, majority African American, area near Grand Gulf Nuclear Power Station reportedly lacks sufficient funds for emergency management. Money which was to go to them was distributed to save ratepayers throughout the state money.
“Entergy traces its history to November 13, 1913, with the formation of Arkansas Power Company. Founder Harvey Couch used sawdust from a lumber company to bring electricity to rural Arkansas. In the 1920s, Couch set his sights on buying electric companies in other states. In 1923, he merged four independent companies in Mississippi into Mississippi Power and Light. Two years later, he formed Louisiana Power and Light to provide power to his Mississippi customers from northern Louisiana’s natural gas fields.
Meanwhile, in 1922, Sidney Mitchel of Electric Bond and Share Company (EBASCO), a subsidiary of General Electric, had merged several competing electric utilities in New Orleans into New Orleans Public Service, an EBASCO subsidiary. Mitchel began turning his attention to other territories, and eventually began competing with Couch. The two men ultimately decided to merge their resources. In 1925, Electric Power and Light Corporation, an EBASCO subsidiary headquartered in New Orleans, was formed with Couch as its president. It was the parent company for Mississippi Power and Light, Louisiana Power and Light, New Orleans Public Service and Arkansas Power and Light.
EBASCO was ordered dissolved in 1949 under the provisions of the Public Utility Holding Company Act. Mississippi Power and Light, Louisiana Power and Light, New Orleans Public Service and Arkansas Power and Light were deemed to be an integrated system, and were reorganized under the control of a new holding company, Middle South Utilities. It changed its name to Entergy in 1989, and merged/bought Gulf States Utilities, based in Beaumont, Texas, as of 12:00 midnight, January 1, 1994.” https://en.wikipedia.org/wiki/Entergy
(Wonder why it changed its name? PR?)
A NUCLEAR REACTOR CAUSES INTERSTATE CONSTERNATION
By WILLIAM E. SCHMIDT
Published: January 20, 1985
MILLIONS FACE HIGH RATES BECAUSE OF NUCLEAR PLANTS
By MATTHEW L. WALD
Published: February 26, 1984