U.S. Nuclear Sector to Rebound; New Profit Plays for Energy Investors
Source: Money Morning (3/30/09)
"The revival faces many uncertainties, but will also reopen a vista of investment opportunities for energy-sector investors."
The 30-year anniversary of the Three Mile Island accident - which occurred near Harrisburg, Pa., in the in the predawn hours of March 28, 1979 - has obviously resurrected some of these discussions. But thanks to these deep-seated and growing concerns - virtually every one of them sparked by globalization - the nuclear power industry is moving ahead with plans to build a string of new reactors in the U.S. market, The Washington Post reported this weekend.
The revival faces many uncertainties, but will also reopen a vista of investment opportunities for energy-sector investors.
The crisis that grew out of the TMI accident was long believed to have forever ended any chance that new commercial nuclear plants would be built in the United States.
But nuclear power is now making a comeback - largely out of necessity.
The United States generates about one-fifth of its electricity from the 104 reactors now in operation. Utilities have applied to build 26 new reactors, many of them expansions of existing nuclear facilities, and the Nuclear Regulatory Commission (NRC), which has to approve the plans, says the first approvals could come by 2011.