29 Sep 2011 4:26 PM
This is bad news for nuclear advocates: Nuclear power turns out even more expensive than we thought. According to a study by Arthur D. Little, the four German nuclear utilities (E.ON, RWE, EnBW, Vattenfall) face costs of at least $25 billion for decommissioning their reactors. After the Fukushima disaster, Germany decided to say goodbye to nuclear by switching off eight reactors immediately while the remaining nine are scheduled for a gradual phaseout by 2022.
Of the many myths about nuclear power, we kinda knew that the myth “nuclear power is cheap” is not true. The stunner is how expensive it turns out to be when you start factoring in its real costs, according to this analyst from a public bank in Germany:
“The quantification of dismantling costs is in line with our estimate amounting to 1 billion euros per block,” but “such estimates comprise several uncertainties”, said Landesbank Baden-Wuerttemberg (LBBW) analyst Bernhard Jeggle.
Continue reading at Germany’s phaseout reveals the true costs of nuclear power