The Waterford 3 nuclear power plant is a concern for Entergy because it doesn't seem to have watertight doors (http://today.reuters.com/news/newsArticleSearch.aspx?storyID=164592+29-Aug-2005+
RTRS&srch=etr). Either way it will take awhile to get up and running so that is gonna be a decent cost.
Keep in mind also that Entergy is not insured against natural disasters like this one (from a previous hurricane and the news after it):
"Entergy officials couldn't immediately identify how much the company had set aside to pay for storm-related damage. According to the Edison Electric Institute, utilities typically set aside about $5 million a year to cover storm-related costs.
Until 1992, utilities bought insurance for storm losses. But Hurricane Andrew, the most expensive hurricane in history at $15.5 billion in paid claims, made the cost of such insurance so prohibitive that many companies elected to self-insure.
If storm damage costs exceed the amount budgeted for restoration, Cuevas said utilities can recover costs from customers."
Also, keep in mind that Entergy is saying this is the worst storm they have ever had (http://www.entergy.com/corp/ at August 29, 2005 12:15 pm). Amazing how the price has not gone down yet.
Meltdownman is correct:
Navy Sends Ships to Aid Hurricane Victims
11 minutes ago
WASHINGTON - The Navy is sending four ships carrying water and other supplies to aid victims of Hurricane Katrina, while medical disaster teams and Red Cross workers from across the country converged on the devastated Gulf Coast region.
The Red Cross, which sent in 185 emergency vehicles to provide meals, reported it had about 40,000 people in 200 shelters across the area. The Federal Emergency Management Agency said medical specialists from Washington state were joining similar teams called in from Massachusetts, New Mexico, Ohio, North Carolina, Oklahoma and Florida to assist people in damaged areas.
Energy Secretary Samuel W. Bodman said Wednesday the Bush administration will also release oil from federal petroleum reserves to help refiners affected by Hurricane Katrina. The move is designed to give refineries in the Gulf Coast area a temporary supply of crude oil to take the place of interrupted shipments from tankers or offshore oil platforms affected by the storm.
Mississippi Sen. Trent Lott (news, bio, voting record) urged President Bush to visit the damaged region.
"Mr. President, the people of Mississippi are flat on their backs. They're going to need your help," Lott said in a call to Bush. "I urge you to come to Mississippi."
Bush was cutting short his Texas vacation and returning to Washington on Wednesday. He was expected to tour the storm-damaged areas later in the week.
Katrina came ashore Monday between New Orleans and Biloxi, Miss., inundating large areas of Louisiana, Mississippi and Alabama.
FEMA said it has 500 trucks of ice, 500 trucks of water and 350 trucks of military meals ready to eat scheduled for distribution in the next 10 days.
Four Navy amphibious ships were to leave Norfolk, Va., over the next few days for deployment on the Gulf Coast. The Pensacola Naval Air Station in Florida will be a base for the relief effort.
The Coast Guard received hundreds of calls for help and has assisted in the rescue of more than 1,200 people, spokesman Lt. Cmdr. Jeff Carter said Tuesday.
He said the Coast Guard had received reports that seven mobile offshore oil drilling rigs were adrift, and was working with companies on recovery and salvage plans.
The Coast Guard was conducting search-and-rescue missions and damage assessments by air and water, and was flying supplies to affected areas, Carter said.
In addition, Homeland Security Secretary Michael Chertoff � whose agency oversees the Coast Guard � has authorized the call-up of 550 Coast Guard reservists to help in recovery operations, Carter said.
In other developments:
_The Air Force said flooding and high winds damaged bases in Florida and Mississippi. Keesler Air Force Base in Mississippi suffered extensive damage to base housing, training facilities and industrial areas and flooding and downed trees also battered buildings at Homestead Air Force Base in Florida. At Camp Shelby in Mississippi, power had been knocked out, and fallen trees and flooding had done some damage.
_NASA reported that the Stennis Space Center in Mississippi and Michoud Assembly Facility in New Orleans were closed during recovery efforts.
_The Health and Human Services Department reported it had sent 27 pallets of medical supplies to Louisiana. These include basic first aid material such as bandages, pads and ice packs as well as blankets and patient clothing, suture kits, sterile gloves, stethoscopes, blood pressure measuring kits and portable oxygen tanks.
_The storm shut down oil and natural gas operations in the Gulf of Mexico, representing about 8 percen
You are a moronic anti-nuclear pin-head. Read the article on your link. Waterford (the entire nuclear island -- Reactor Building, Auxiliary Building, Spent Fuel Handling Building) is flood protected to approximately 27 feet mean-sea-level. In case it is too much trouble, I have copied the key paragraph from your article here.
Nuclear plants are constructed to withstand winds stronger than Katrina's 135 mph (216 kph) winds. Waterford and the other two Entergy plants -- River Bend near Baton Rouge, Louisiana, and Grand Gulf near Vicksburg, Mississippi -- have watertight doors at key safety systems.
That is sort of funny because actually I really think nuclear power is a good idea, my first job was working for a nuclear service company that would make sure that nuclear power plants maintained saftey regulations.
What I really am trying to do here is just find out why ETR didn't go down, and didn't go down fast (stock price-wise). But it just seems investors were optimistic about the Katrina's potential impact yesterday. Perhaps today people will think it might dig into Entergy's profits.... being the largest hurricane ever and all.
Storm recovery is a regulatory issue, and under the jurisdiction of the state PSC's. Entergy should know if they have storm reserves set aside since they would have to be approved by the jurisdictional PSC's. Remember, the four hurricanes that hit Florida last year, all of the investor owned utilities (except Gulf Power, they settled) had to go through full blown storm recovery hearings to get relief for what they spent above their storm reserves. So, the lesson is basically that you are judged on how you respond and restore.
Your link states:
Waterford and the other two Entergy plants -- River Bend near Baton Rouge, Louisiana,
and Grand Gulf near Vicksburg, Mississippi -- have watertight doors at key safety systems.
Yet you state that a concern is that Waterford doesn't have watertight doors...?
Did you read incorrectly?