Substantive Post Attempt number 9

Brilliant Texas Energy Plan

Crony Capitalism at its worst TEPCO & TOSHIBA at the helm

Rick Perry wants to double number of Texas nuclear plants

Crony Capitalism at its worst

By Bob Keefe WEST COAST BUREAU Friday, July 18, 2008

http://www.statesman.com/news/content/region/legislature/stories/07/18/0...

LOS ANGELES — Perry said he wants to double the number of nuclear plants in the state within the next 10 years, increase development. Perry indicated that he'd like Texas to develop its nuclear power industry as much as it has developed its wind power industry. Texas is on its way to more to meeting Perry's goal of doubling the number of nuclear reactors in the state. In September, NRG Energy Inc. became the first company in nearly three decades to apply for a nuclear reactor, with plans for two new ones at its existing nuclear plant in Matagorda County in South Texas.

http://e.nikkei.com/e/fr/tnks/Nni20110418D18JF390.htm http://abcnews.go.com/Business/wireStory?id=13411603

By JONATHAN FAHEY AP Energy Writer NEW YORK April 19, 2011 (AP)

Blaming uncertainties arising from the nuclear crisis in Japan, NRG Energy says it will write down its $481 million investment in two planned new nuclear reactors in South Texas. NRG, based in Princeton, N.J., hoped to build two new reactors at its South Texas Project nuclear station, an operating two-reactor power plant 90 miles southwest of Houston. The project is in line for a federal loan guarantee, but low electricity prices had clouded prospects for the plan even before the incident in Japan. Support for new nuclear projects in the US has eroded in the aftermath of the nuclear crisis in Japan, according to an Associated Press-GfK poll conducted earlier this month. One of NRG's partners was to be TEPCO, the Japanese utility that owns the reactor complex crippled by last month's earthquake and tsunami.

That includes $331 million contributed by NRG to the joint venture that was to build the project and $150 million from a partner, Toshiba American Nuclear Energy Corp., a unit of the Japanese industrial giant Toshiba. Toshiba was to supply the design for the reactor and build the station. Toshiba will be responsible for future licensing costs.