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Wednesday, June 12, 2013

More Bellefonte Delays and TVA Executive Mismanagement

TVA's $48 billion dollar dream
TVA comes to town, Scottsboro, Al.,  in their multi-million dollar jet, or a similar one, to make an announcement.
Bellefonte - TVA's dream of 4 nuclear reactors which would cost TVA rate payers in excess of $48,000,000,000 - Forty-eight-billion dollars - takes another set back. The TVA has been attempting to finish Bellefonte #1, but there is a problem as this al.com article explains: 
"The Tennessee Valley Authority said today it will slow down work at the Bellefonte Nuclear Plant site near Scottsboro cut 400 positions and reassess the need for the plant's completion." http://blog.al.com/breaking/2013/06/tva_slowing_work_cutting_jobs.html
Chattanooga Times Free Press article: "By September, TVA expects to have cut its current 540-person staff working at Bellefonte to about 140 workers. TVA spokesman Mike Bradley said the utility will still conduct engineering studies and analysis on the Babcock & Wilcox-design reactors, but the pace of work will slow to better align with future power projections." http://timesfreepress.com/news/2013/jun/12/tva-cut-400-jobs-bellefonte-nuclear-plant/
TVA does not have the financial assets to finish Bellefonte. It will be lucky to complete the Watts Bar Nuclear Plant in Rhea County Tn. TVA has a $25 billion dollar plus debt load with a Congressional mandated debt cap of $30 billion; Watts Bar is scheduled to cost $5 billion to complete and Bellefonte Unit 1 will cost another $5-7 billion to complete.
 . TVA announced in 2011 their plan was to sell Watts Bar then lease it back when complete - good luck on that Ponzi scheme! If TVA were a private corporation their executives would have sunk it many years ago due to unnecessary nuclear power construction. TVA's total long term financial commitments, including leases and fuel contracts are in excess of $65 billion dollars.
Selling an unneeded nuclear plant to finish another unneeded nuclear plant at RATE-PAYERS expense so that the multi-national nuclear corporations will grow richer along with their political puppets is beyond ridiculous, it is negligent and a poor use of our money and resources. http://nuclearstreet.com/nuclear_power_industry_news/b/nuclear_power_news/archive/2011/08/22/tva-to-sell-new-watts-bar-reactor-to-pay-for-bellefonte-completion-0822021.aspx
UPDATE - 6:30PM Jun.12,2013- Daily Journal: "So far, the utility has not formally abandoned the Bellefonte project. However, Skaggs said TVA officials are in the process of determining how the plant fits into the utility's overall needs. Workers will continue performing maintenance at the site, protect the plant's records and keep working on an estimate outlining how much it would cost to finish one of the site's two reactors." (Not for profit usage.) http://www.dailyjournal.net/view/story/0d72b70969204cd5a4ac2ed2e63e4a64/AL--Bellefonte-Plant/

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