Forbes sympathizes with Entergy

There was a recent piece in Forbes Magazine in Bill Mohl, spokesperson for Entergy complained that

The abundance of shale gas has resulted in sustained low natural gas and wholesale energy prices while market designs especially in the Northeast have resulted in artificially low energy prices. That’s a vague reference, in part, to wind energy that is subsidized and that does not provide electricity around the clock.  If an electricity market is going to be economically sustainable for investors and consumers, it must be truly competitive, says Mohl, in a phone interview. To that end, he says that fuels that cost more have entered the market and that they are receiving state-sanctioned, long-term contracts. Existing merchant generators that sell their power at market prices, conversely, are unable to compete…“Our projected revenues were significantly lower than the projected costs,” says Mohl, in reference to Vermont Yankee that will officially close this year. “We could no longer make significant investments.”

Is Mohl not aware of the extensive subsidies already built into the nuclear reactor industry?    The research and development were largely subsidized by the government for decades under such programs as Atoms for Peace.   There is no meaningful liability for the industry.   They are covered by the Price Anderson Act.  They have not dealt with the issue storage of nuclear waste.

Advertisements

2 thoughts on “Forbes sympathizes with Entergy

  1. David

    The rationales abound. The bottom line is The bottom line. Billions have been invested in Uranium…the big money will not take this as a loss or give it away.

    Reply

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s