And you thought oil & gas regs were bad...
Seven companies have just announced plans to jointly apply for a license to build a commercial nuclear power plant, the first new reactor application to be filed since 1973. According to the article in the Wall Street Journal,
The companies intend to commit $7 million a year to the effort under a cost-sharing program with the Energy Department. The goal is to get license approval from the Nuclear Regulatory Commission by 2010.
Get that? Seven million dollars a year for 5-6 years, and that's just the cost of the paperwork to get a license to start building the plant.
Thank goodness they're getting to test the streamlined process! I understand that the timeline in the non-streamlined version yields a better than 50-50 chance that the sun will go dark before the process is completed.
It must be nice to have $30-40M laying around with which to test government processes.
[The article goes on to say that "...neither the consortium nor its members 'are making a commitment to build a new nuclear unit at this time.'" In addition, no location or timeframe for construction was included in the announcement.]
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