By Travis Loller | AP
May 5 at 6:33 PM
NASHVILLE, Tenn. — The nation’s largest public utility is selling a never-completed nuclear plant that has cost more than $4 billion dollars over the past four decades.
The Tennessee Valley Authority board voted Thursday to declare the Bellefonte nuclear plant near Hollywood, Alabama, surplus. The site includes two partially finished nuclear reactors, office buildings, warehouses, parking areas, railroad spurs and a helicopter pad.
TVA President and CEO Bill Johnson said after the meeting that the 1,600 acre site has been appraised at $36 million. It will be sold at auction to the highest bidder, but the utility will consider job creation and economic impact when looking at potential buyers.
“There will have to be a positive impact for the community for us to qualify you as a bidder,” he said.
The decision to sell is the latest blow to the nuclear power industry, which seemed poised for resurgence a decade ago but has been stymied by cheap natural gas, high construction costs and relatively flat demand for power.
TVA recently completed construction of its long mothballed Watts Bar Unit 2 reactor in Spring City, which was first started in 1979 and then restarted in 2008. The reboot ran about $2 billion over budget and took about three years longer than anticipated.
Board member Eric Satz cited that experience in concluding that completing Bellefonte is not economically viable. He said a lot has changed in the energy market in the past 40 years, including huge improvements in energy efficiency and renewable energy technology.
And he said TVA should allow the Bellefonte site to be developed so the people of Hollywood “don’t live in limbo for the next 40 years.”
The FDA likes people to get cancer. If they cannot do it with soda, diet soda, alcohol, BPA and so forth, then they throw the women a test which is only 80% accurate for cervical cancer to generate acute 1M dollar revenues for advanced cervical cancers for the hospitals and oncologist and lab workers. I get my colon tests done in Canada (occult blood) and take the advice of the Canadian Health Authorities that a 1000 dollar colonoscopy is totally worthless.
Shares of Akron, Ohio, utility FirstEnergy (FE) fell 10% on new federal regulatory orders that will prevent it from having customers help subsidize uneconomic coal and nuclear plants hurt by low priced natural gas in the Marcellus and Utica shale regions.
After the markets closed Wednesday, the Federal Energy Regulatory Commission, or FERC, sent orders to FirstEnergy and American Electric Power (AEP) that rescind affiliate waivers and reject implementing power purchase agreements, known as PPA's, with their generation businesses.
Analysts at bond research firm CreditSights wrote in a report that FERC's rejection of FirstEnergy's PPA's has serious implications for its credit profile, bond spreads and only remaining investment grade rating from Moody's Investors Service.
A solution to preempt rating action would be to issue a sizeable amount of equity, CreditSights said. "We may even hear the conversation shift to how can FE exit the merchant generation business," the analysts wrote.
Jefferies & Co. analyst Anthony Crowdell cut his rating on the stock to hold from buy and his price target to $35 from $40.50, citing the news. "Our buy rating was predicated on our belief the stock was a free option on FERC approving the PPA and without it we now believe FE is fair value," he said in a report.
Crowdell also lowered his earnings estimates to reflect the loss of PPA profits and included $2 billion worth of equity issuances to support the company's balance sheet, which he thinks could mean 32 cents to 40 cents in total dilution for shareholders.
RBC Capital Markets also downgraded the stock to sector perform and his price target to $33 per share, citing the regulatory pressure and having to likely sell $2 billion in new equity.
I do understand your frustration.
it's all over you guys.
stock MB's are are really con jobs to get you to sell cheap, so they can buy cheap.
To date, we have shipped LuVivas to 22 countries and have distributors covering 58 nations. So we have plenty of opportunity for growth within our existing network.
The bulk of the market is outside the US for now. Wheeeee all these brain pans trying to save us all from an investment where some difficulties may arise. So why are these clowns here. To get us to covert? They spend all there time doing that like a bunch of religious fanatics.
Look at the capacities each of these nations have. VERY COMPETITIVE. With more plants closing here in the US, and a PWR, BWR is so darn expensive to build, utilities cannot afford it. Maybe 10 years away, but LEU's expertise is limited.
(last updated 23 Mar 2016)
•China · India · Iran · Japan · Kazakhstan · Korea, DPR · Korea, Rep. · Pakistan · Russia (extra page) · Turkey
I suppose their credentials are better than the management team at GTHP. They not only have mental deficiencies. but acute libido problems:
Gene Cartwright - Chief Executive Officer
Mr. Cartwright was appointed CEO in January 2014. He brings over 30 years of experience working in the In vitro diagnostics industry. He joins Guided Therapeutics from Omnyx, LLC, a Joint Venture between GE Healthcare and the
University of Pittsburgh Medical Center, where, as CEO for over four years he founded and managed the successful development of products for the field of Digital Pathology. Prior to his work with Omnyx, LLC, he was President of Molecular Diagnostics for GE Healthcare.
Before joining GE, he was Divisional Vice President/General Manager for Abbott Diagnostics’ Molecular Diagnostics business. In his 24 year career at Abbott, he also served as Divisional Vice President for U.S. Marketing for five years.He received a Masters of Management degree from Northwestern’s Kellogg School of Management and also holds a Ph.D. in chemistry from Stanford University and an AB from Dartmouth College.
Mark L. Faupel, Ph.D. - Chief Scientific Officer
Mark L. Faupel, Ph.D.
Dr. Faupel has more than 25 years of experience as a senior executive developing non-invasive alternatives to surgical biopsies and blood tests, especially in the area of cancer screening and diagnostics. Prior to coming to SpectRx in 1998 as Vice President of Business Development and then co-founding Guided Therapeutics, Dr. Faupel was a senior executive and co-founder of Biofield Corp.
He is the inventor on 20 U.S. patents and author of numerous scientific publications and presentations, appearing in such peer-reviewed journals as The Lancet, Cancer, The European Journal of Radiology and Diabetes Technology & Therapeutics. He has served as a member of the European School of Oncology Task Force and on National Institutes of Health review panels. Dr. Faupel earned
You got it right babe. Book em "MURDER ONE!" What do these fools think they are. Going 100 shares short on their kids allowance?? LOL!!! Geez, what MORONS! Babe GOOG otcshortreport, and laugh hard.
Not much here domestically either. Morris and Dolly are speculative investors, but I think the shorts want their money.
Centrus Energy Corp (LEU) Sees Significant Increase in Short Interest
March 24th, 2016 - By Faye Duncan - 0 comments
Centrus Energy Corp logoCentrus Energy Corp (NYSE:LEU) saw a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 282,839 shares, a growth of 815.0% from the February 29th total of 30,911 shares, Market Beat reports. Currently, 5.4% of the company’s shares are sold short. Based on an average trading volume of 1,987,976 shares, the days-to-cover ratio is currently 0.1 days.
Just out in Business Insider. Indian Point. Google it. This gets real deep you guys
NEW YORK GOVERNOR SLAMS INDIAN POINT. GOOG IT. THIS GETS COMPLICATED.
RICHLAND, Wash. -- Washington state's only nuclear power plant has been shut down after operators received an indication that a system used to cool equipment wasn't working. Officials said there was no release of radiation and no danger to the public.
The Columbia Generating Station near Richland was shut down about 1:30 p.m. on Monday, Energy Northwest spokesman John Dobken said.
Officials hope to restart the plant sometime this week, Dobken told The Associated Press early Tuesday.
The Tri-City Herald reported that the plant was shut down after operators were alerted to problems with the system that uses water to cool heat exchangers and pumps, including those that control the power level of the reactor.
Energy Northwest says it seems that a water system valve may not have been in the right position, but adds that an investigation is ongoing.
The last time the plant had an unplanned shutdown, known as a scram, was in November 2009, when there was a hydraulic fluid leak.
Mike Paoli, an Energy Northwest spokesman, said a decision on restarting the plant will be made after a thorough review of the event and when operators have confidence that all systems can operate to standards.
"Scrams are not unusual events in the industry, but they are not what we like to see to meet our generation numbers," Paoli said.
The nation has 99 operating nuclear reactors and they had more than 110 scrams in the last two years, he said.
The plant broke generation records in December and January, operating in January above its peak capacity factor, which is set at the maximum amount of electricity the plant can send to the power grid in the summer. It produces enough electricity to power a city about the size of Seattle.
The plant also had set a new record for the longest continuous operational run last year, operating for 683 days before shutting down for a planned biennial refueling and maintenance
Entergy Corp. is extending an outage at its Indian Point nuclear power plant near New York City after discovering bolts missing in one of the reactors, marking the latest development in a series of incidents that have raised safety concerns about the complex.
Engineers inspecting the Unit 2 reactor at the plant identified missing bolts and bars designed to hold them in place, along with “other degradation requiring replacement,” the New Orleans-based company said in a statement Tuesday. Finishing an assessment of the issue and making repairs may extend a scheduled maintenance outage of the reactor by several weeks and increase costs, it said.
The discovery comes as New York Governor Andrew Cuomo is campaigning for the permanent closing of the Indian Point complex. He has said evacuating a metropolis such as New York City would be impossible in the event of a major radioactive accident at the station. In December, Cuomo ordered the state’s utility regulator to look into operations and safety protocols after an unexpected shutdown at the plant. Two months later, Entergy said it had detected elevated levels of radioactive material in groundwater samples there.
The new business recognizes sweeping changes affecting energy production and consumption, Edison International executives said Tuesday at a conference titled "The New Energy Future" held at UC Irvine.
With growing opportunities to tap renewable energy sources, such as solar and wind power, and to employ energy efficiency and energy storage, consumers are seeking ways to reduce their utility bills and the impact of electricity use on the environment.
Energy companies such as Edison also are working to navigate the changing energy landscape as consumers increasingly become self-generators of electricity. That has disrupted the utility and power company business model, which historically generated and distributed electricity rather than balanced a system that includes consumers as energy sources.