a new plant will have a harder time breaking even: An Areva reactor may start at
$3 or $4 billion, already twice as much as a coal plant, but actual construction
costs and interest will probably boost total plant cost to $9 billion
Which is why not a single one will get built without help from the government
So far, Congress has pledged up to $6 billion worth of production tax credits
for new nuclear plants.
Since 1957, plant operators have been protected by the Price-Anderson Act, which
limits their liability in a catastrophic accident. The 2005 energy bill updated
the act, which required reactor operators to carry insurance policies worth $300
million and contribute $95 million to an accident compensation fund. The rest is
covered by taxpayers—not a bad deal, considering that it cost $1 billion to
clean up after Three Mile Island.
The debate over whether nuclear power deserves this kind of
public investment is second only to the debate over whether reactors can ever be
safe.