Press Mention WATE April 25, 2012
Topical Mention
TVA board approves billions more to finish Watts Bar reactor
In this mention
The TVA board approved continued construction of Unit 2 at Watts Bar Nuclear Plant with an additional $1.5–2 billion in funding, bringing the total project cost to $4–4.5 billion. TVA President Tom Kilgore stated the reactor would provide emission-free electricity and a balanced energy mix. Former TVA Board Chairman David Freeman criticized the decision, calling it an investment in outdated technology.
Full transcript
TVA board approves billions more to finish Watts Bar reactor
Posted:
Apr 26, 2012 12:58 PM CUT Updated:
Apr 26, 2012 12:58 PM CUTApr 26, 2012 1:39 PM CUT
GREENEVILLE (WATE) - The Tennessee Valley Authority board of directors on Thursday approved continuing construction to complete the Unit 2 reactor at Watts Bar Nuclear Plant.
The approval is in accordance with a revised estimate including additional funding of $1.5 billion to $2 billion.
TVA says that brings the total cost to complete the unit to $4-4.5 billion, with the most likely estimate of $4.2 billion.
"TVA expects Watts Bar Unit 2 to be among the best operating and most economical nuclear generating facilities of the 21st century," TVA President and CEO Tom Kilgore told the board at its meeting in Greeneville.
"The safe and quality completion of Watts Bar Unit 2 will help us deliver a balanced mix of energy sources and increase our supply of emission-free electricity," Kilgore added.
Former TVA Board Chairman David Freeman said after the meeting he finds it disgraceful that the current board is going to continue to fund and construct the Watts Bar reactor.
Freeman said TVA is building yesterday's technology tomorrow and places the blame on the board.
The revised estimate was announced in early April after TVA put new leadership in place and conducted a seven-month analysis of the project.
The estimated completion is between September and December 2015.