Press Mention Turnarounds & Workouts July 14, 2001
SACE Quoted
Poor Predictions, Nuclear Woes Choke TVA
In this mention
The article examines TVA's mounting $25 billion debt crisis and its failure to meet a 10-year debt reduction plan. Dr. Stephen Smith of the Southern Alliance for Clean Energy criticizes TVA's nuclear power investments, noting that $21 billion of the debt stems from nuclear projects since the 1970s, particularly the troubled Watts Bar Unit 1 reactor. Smith and other industry observers question TVA's financial projections and its plans to continue nuclear construction.
In a very general sense, they have made some progress. But they are not on the glide slope that they projected. We're very concerned about the renewed talk on TVA getting into the construction business of power plants, particularly nuclear power plants, which is what got them into the debt in the first place
Stephen A. Smith
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