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In Finland, around the globe, and in every state, the nuclear industry makes people sing the same old song: “What do you get when you buy a nuke? You get a lot of delays and rate increases….”
This year, authorities permitted Florida Power & Light to start charging millions of customers several dollars a month to finance four new reactors. Customers of Georgia Power, a subsidiary of the Southern Co., will pay on average $1.30 a month more in 2011, rising to $9.10 by 2017, to help pay for two reactors expected to go online in 2016 or later.
As an aside, if Public Utility Commissions allowed on-bill financing of energy efficiency, which is under half the cost of any new power generation — and 5 times cheaper than new nukes — we could stop electricity demand growth in this country for two decades while lowering consumer electric bills by tens of billions of dollars a year (see “Energy efficiency is THE core climate solution, Part 1: The biggest low-carbon resource by far” and “Part 3: The only cheap power left“).