Uranium: and now some good news!
Thursday, April 24, 2008 at 11:05PM
Uranium Stocks in Other
Seabrook nuclear power plant

The bottom line here is that lower electricity bills are on the horizon for these customers who buy electricity from the Seabrook NUCLEAR power plant in New Hampshire.

"The market price for a natural-gas unit is significantly higher than the cost for a nuclear plant."

Says David Tuohey, a spokesman for the Massachusetts Wholesale Electric Company. David goes on to say that:

“In 2010, debt service for construction of Seabrook will start to decline, and it is scheduled to be eliminated by 2019. The reduction will be passed on to ratepayers in the form of lower electricity bills”

Three cheers for someone who is as far sighted as the French in terms of having the vision and the will to stick with nuclear power despite the dissenters. It wasn’t that long ago that the customers in the town of Stow wanted a separation from the Hudson Light & Power Department as it was deemed too costly to use their nuclear powered electricity. However, with the decline in the cost of servicing the construction debt nuclear power is being hailed as the way to go! Fantastic! But wait; there is an added kicker to this cheap supply of power in that the requirement to reduce carbon dioxide emissions comes into play. Well as Seabrook's nuclear plant does not produce carbon emissions they will be exempt this green tax. This is the requirement to buy credits for producing carbon emissions! Not applicable here, thank you!

Mr Tuohey goes on to say that "The ownership of the Seabrook plant has gone from a burden to a significant benefit, and the future looks even brighter" Bang on in our humble opinion, but we are biased to nuclear power. So what does this mean to the families concerned in terms of hard cash? For this we turn to Yakov Levin, general manager of Hudson Light who summarised as follows:

“For an average household using 800 kilowatt hours per month, Hudson and Stow customers pay $101, said Levin. Relying primarily on natural gas, National Grid's average bill is $129 for the same amount of electricity, and the figure for NStar customers would be $145”

When the end result is cheaper power then the customers will vote with their feet for more nuclear power stations, lets hope that they do so before the explorers and mine developers throw in the towel and go off searching for the other precious metals.

Have a good one and thanks to B for alerting us to this situation and to The Boston Globe for carrying the article.

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