{"id":11635,"date":"2011-08-19T12:00:00","date_gmt":"2011-08-19T09:00:00","guid":{"rendered":"https:\/\/vo.afonico-test.ru\/novosti-otrasli\/decision-to-build-bellefonte-1\/"},"modified":"2011-08-19T12:00:00","modified_gmt":"2011-08-19T09:00:00","slug":"decision-to-build-bellefonte-1","status":"publish","type":"post","link":"https:\/\/vosafety.ru\/en\/novosti-otrasli\/decision-to-build-bellefonte-1\/","title":{"rendered":"Decision to build Bellefonte 1"},"content":{"rendered":"

Tennessee Valley Authority has decided to complete a nuclear reactor at Bellefonte\u00a0\u2014 selling and leasing back another new reactor to pay for it.<\/strong><\/h4>\n

The decision yesterday by TVA\u2019s board brings to an end some five years of deliberation by the non-profit firm that manages power, water and other resources in the US state. Bellefonte 1\u00a0is a Babcock & Wilcox pressurized water reactor currently considered 55% complete. A $4.9\u00a0billion project should see it begin operation by 2020\u00a0to generate 1260\u00a0MWe.<\/p>\n

At the same time, TVA will purchase a 900\u00a0MWe combined-cycle gas power plant from a subsidiary of Kelson Energy. It is also going to fit sulphur dioxide and particulate control systems to its older Gallatin and Allen coal power plants to bring them up to \u201cclean standards.\u201d<\/p>\n

To pay for all this, TVA will raise cash by selling two new power plants it is now in the process of building before leasing them back from the new owners. One comprises two gas turbines at the John Sevier fossil power plant, the other is Watts Bar 2, another large nuclear reactor TVA is completing. The plants will be sold separately, most likely to financial institutions interested in holding industrial assets. TVA will continue to control, maintain and operate them.<\/p>\n

Chief financial officer John Thomas said TVA had to use alternative methods to finance its investment because of statutory limits on the amount of bonds it could issue. The leaseback option would be \u201cslightly more expensive\u201d than bonds, he said, but would be cheaper overall than increasing public and commercial rates by more than the 2% approved yesterday. The final analysis will not come until buyers have been found for the new power plants at the end of a competitive process.<\/p>\n

TVA\u2019s president and CEO, Tom Kilgore, said completing Bellefonte 1\u00a0was cheaper on a per-MW basis than the cost of replacing any of its fossil plants. The $4.9\u00a0billion project works out at a cost of $3888\u00a0per kilowatt of installed capacity.<\/p>\n

As essentially a brand-new reactor, the sale of Watts Bar 2\u00a0will be unprecedented and the price is impossible to predict. In the last decade prices seen in the US for old reactors, normally after some 30\u00a0years of service, have trended upwards from less than $400\u00a0to over $874\u00a0per kilowatt. Exceptionally, EDF paid some $2253\u00a0per kilowatt overall for its shares in Calvert Cliffs, Nine Mile Point and RE Ginna plants in 2009\u00a0when investing in Constellation Energy.<\/p>\n

Re-working and restarts<\/strong><\/p>\n

Both the power plants, Watts Bar and Bellefonte, share a history of planning in the 1970s and suspended construction in the 1980s on a combination of rising costs and falling power demand. Another slightly older TVA plant with three reactors, Browns Ferry, achieved operation but was mothballed for the same reasons, exacerbated by operational problems.<\/p>\n

However, TVA brought Browns Ferry 2\u00a0and 3\u00a0back into service in 1991\u00a0and 1995\u00a0respectively, with Watts Bar 1\u00a0following in 1996\u00a0and Browns Ferry 1\u00a0in 2007. Earlier this month, Watts Bar 2\u2019s return date was pushed back slightly to 2013.<\/p>\n

Actual construction work on Bellefonte 1\u00a0will not start until fuel has been loaded at Watts Bar 2, said Kilgore, noting a conscious decision to constrain the risk of nuclear construction to one project at a time. By the same token, Kilgore said the \u201cfuture decision\u201d on the potential completion of Bellefonte 2\u00a0will not come until at least mid-way through work on unit 1.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tennessee Valley Authority has decided to complete a nuclear reactor at Bellefonte\u00a0\u2014 selling and leasing back another new reactor to pay for it. The decision yesterday by TVA\u2019s board brings to an end some five years of deliberation by the non-profit firm that manages power, water and other resources in the US state. Bellefonte 1\u00a0is…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15],"tags":[],"class_list":["post-11635","post","type-post","status-publish","format-standard","hentry","category-novosti-otrasli"],"translation":{"provider":"WPGlobus","version":"3.0.6","language":"en","enabled_languages":["ru","en"],"languages":{"ru":{"title":true,"content":true,"excerpt":false},"en":{"title":false,"content":false,"excerpt":false}}},"acf":[],"yoast_head":"\nDecision to build Bellefonte 1 - JSC \u201cVO \u201cSafety\u201d<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/vosafety.ru\/novosti-otrasli\/decision-to-build-bellefonte-1\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Decision to build Bellefonte 1 - 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