38 years of nuke profit up in smoke?

[kristopher]

38 years of nuke profit up in smoke?
Kyodo

...Kenichi Oshima, an environmental economist and professor at Kyoto-based Ritsumeikan University, estimates that Tepco in that time earned just less than ¥4 trillion, possibly equal to or less than the amount it must pay farmers, fishermen, evacuees and others affected by the nuclear crisis.

Oshima also found that the cost of nuclear power generation is higher in Japan than that of hydraulic and thermal power, contrary to a widely disseminated government estimate.

By analyzing Tepco's financial statements, Oshima put its cumulative profits from its nuclear power business at ¥3.995 trillion between the business years of 1970 and 2007, which ended in March 2008. Tepco operates three nuclear power plants — the six-reactor Fukushima No. 1 plant, four-reactor Fukushima No. 2 plant and seven-reactor Kashiwazaki-Kariwa plant in Niigata Prefecture.

The amount of damages Tepco needs to pay is not yet known but is expected to reach trillions of yen. Some financial institutions put the figure at ¥8 trillion to ¥11 trillion.

The cost of power generation per kilowatt hour...

http://search.japantimes.co.jp/cgi-bin/nn20110629a2.html

The numbers used make it appear that the profits from the operation of 17 nuclear reactors over nearly 40 years are about 1/2 to 1/3 of the damages.

Japan has 54 reactors, or about 3X the number studied. Presuming their profits to be similar, that means the meltdowns have wiped out all profitability for the nuclear industry in Japan.

Not going into the incalculable nature of human suffering, I don't believe that the analysis takes into account future decommissioning costs and waste disposal either.

[madokie]

1. When its all said and done nuclear energy will be shown to be the biggest boondoggle

man has every done.

[kristopher]

2. Great corporate welfare program though.

All of the profits over the decades have gone to the corporate entities and all of the costs will be born by the taxpayers and ratepayers of today.

[Divernan]

4. In the US, ratepayers/consumers got stuck with "stranded costs"

of vast budget overrides of building nuclear plants. Power companies like Duquesne Light (Pittsburgh) kept paying nice dividends to stockholders, and overpaying their execs and board members. But the state Utility Commission agreed to let the hundreds of millions of cost overrides be tacked on to the monthly electric bills in the form of "stranded costs". And this was years before the nuclear plant was even on line.

[kristopher]

6. They are trying to do the same thing this time around. nr

[Tikki]

3. That is one of the TRUEST statements ever made...

I wish Americans or any other Country's people could understand
what exactly goes into the whole scope of NUKE.

To many it's fascinating, like magic. But the SAFETY of it is never really... real.


The Tikkis
...children of the radiant glow.....

[Nihil]

5. With all due respect, it is still (and will remain) in the #2 position.

It will never exceed the gross excesses of organised religion.

:hi:

[madokie]

7. I'm not so sure of that after reading Senator Markeys report on the nuclear industry

The two are definitely neck and neck at least though. :hi:
http://a4nr.org/wp-content/uploads/2011/05/051211-Marke...

Its a pretty quick, well written read too

[kristopher]

8. Is there a difference between organized religion and the structure of the nuclear industry?

I've always been struck by their similarities.

[madokie]

9. Don't know as I'm neither

damn sure aren't religious