http://www.beyondnuclear.org/the-nuclear-retreat/2015/9/30/nuclear-reactors-are-closing-and-we-are-counting.html
[links in on-line article]
Date September 30, 2015
Nuclear reactors are closing and we are counting
The United Bank of Switzerland (UBS), the second largest bank in the
world, headlined that “Nuke Retirements are coming” in its September 24,
2015 global financial research issue of US Electric Utilities and IPPs.
The international investment giant projects “a growing capitulation in
the nuclear sector as the prospects for protracted downturn remains
front and center.” UBS forecasts, “We see both ETR (Entergy) and EXC
(Exelon) as substantially exposed to this thesis: it has specifically
emerged in recent days that not just ETR’s Fitzpatrick but also the
Pilgrim unit could well be shut in lieu of investing to improve profile
up to NRC levels. Further, we see EXC as highlighting this nuclear
retirement thesis further with not just its Ginna plant in NY and Oyster
Creek (NJ) plants poised to retire in 2019, but also now its Three Mile
Island unit is at risk beyond known the ongoing saga in Illinois over
support for Quad Cities, Clinton, and even Byron.” UBS admits that its
forecast “could well underestimate total retirements” as actual
retirements might prove more aggressive particularly for the other
single unit nuclear power stations. With Exelon’s two unit Quad Cities
nuclear power plant in Illinois still posting losses, UBS sees the
nuclear power corporation’s “plans to retire the plant as entirely
credible (and seemingly committed to investors) should Illinois fail to
produce a sufficiently attractive scheme” in spite of the fact that 50%
of its nuclear assets are clustered in the state.
There is even more good news to be found in this particular UBS forecast
where, “In turn, if retirements move forward as contemplated, we see a
real corresponding uplift to the renewable industry as this becomes the
growing source of 'plugging' for any further holes in meeting
prospective carbon targets.” The UBS assessment undermines the
pro-nuclear industry’s most prevalent false argument that “No Nukes”
means more coal. It clearly doesn’t.
You can keep pace with these anticipated nuclear power plant closures
and more by periodically visiting our website’s “Reactors are closing” page.
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