Duke Energy maintains that nuclear power is a “vital component” of its generation portfolio, yet Duke is seeking utility commission approval to cancel the Lee Nuclear project. The company, in a press release, adds, “Most notably, risks and uncertainties to initiating construction on the Lee Nuclear project have become too great and cancellation of the project is the best option for customers. Duke Energy will maintain the license to build new nuclear at this site in the future if it is in the best interest of customers.”
The Vogtle plant in Georgia is now the only remaining nuclear project under construction in the U.S., a planned power-generating facility highlighted in Breach of Trust.
Although both sources of electricity provide 20 percent of the nation’s power, nuclear power production is waning, while renewable energy production is soaring.
The June 30, 2017 issue of the U.S. Energy Information Administration’s (EIA) “Electric Power Monthly” reports renewables – biomass, geothermal, hydropower, solar (including small-scale PV) and wind – are tied with nuclear in terms of their respective shares of electrical generation across the United States. During the January through June period of 2017, renewables surpassed nuclear in three of those months – March, April and May – while nuclear took the lead in the other three.
According to Ken Bossong, executive director of the SUN DAY Campaign, “Everyone loves a horse race. However, the smart money is now on renewables to soon leave nuclear power in the dust.”
“Nuclear power is in irreversible decline in the U.S., due to rising costs and failing economics of new and existing reactors alike,” according to Tim Judson, executive director of the Nuclear Information and Resource Service. “Last month’s cancellation of half the new reactors under construction in the U.S. means that gap is going to be wider than projected – and accelerating.”