(GOP Controlled) Iowa House OKs financing for new nuclear plant (ratepayers to be gouged)

[jpak]

http://www.businessweek.com/ap/financialnews/D9MS0LBO0.htm

On the 25th anniversary of the nuclear disaster at Chernobyl, and as officials in Japan deal with the fallout from a nuclear plant damaged by a tsunami, the Republican (edit:moran)-controlled Iowa House approved a measure Tuesday aimed at spurring the development of the state's second nuclear power plant

If approved, it would clear the way for MidAmerican Energy, the state's largest utility, to begin billing customers in advance for the estimated $1 billion cost of developing one or more small modular nuclear reactors that could be on line as early as 2020.

<snip>.

The House rejected a series of efforts by critics to modify the measure and approved it in a 68-30 vote. It now goes to the Democratic-led Senate, where it faces an uncertain future.

"I think this is a huge step for Iowa," said Rep. Chuck Soderberg, R (edit:moran)-Le Mars, the bill's main supporter. "This is a huge step if we want to grow this state."

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[Frustratedlady]

1. Is Alliant connected to them?

They raised our rates last year waaaaay too high.

If they are reaping the profit, why aren't they raising the money like other companies? I realize they are (were) regulated, but they still managed to do well. Why raise our rates before we even use the system?

[Common Sense Party]

2. Where does it say they will be 'gouged'? How much of an increase

will it be in the typical Iowan's monthly bill?

In the long run, won't it be cheaper for the state than having to buy and bring in electricity that is generated elsewhere?

[kristopher]

3. Gouged is a good term for that policy

It is something that is done for no other type of generating source, all other developers have to pay for their own planning and development costs, they don't get a penny of ratepayers money or a penny of obligation to pay for ANY plant until and unless that plant goes online to generate electricity.

In this case they want to give a huge amount of ratepayer money to a company thinking about building a plant with generators that the NRC hasn't even started reviewing for approval and that process alone will almost certainly take more than a decade.

In the long run the answer is to focus on renewables and energy efficiency.