Seabrook financing OK'd; completion still in doubt

Journal Article · Sat Jun 01 04:00:00 EDT 1985 · Electr. Light Power; (United States)

OSTI ID:5717266

Despite conditional approval of a $525 million financing strategy for the Seabrook nuclear plant, there are serious doubts whether the plant will ever be completed. The New Hampshire commission approval was a move to avoid bankruptcy because state law prevents recovery of sunk investments in cancelled plant. With $3.2 billion invested, the total estimated cost for unit one is $4.65 billion. Current construction costs are running $3 million a week over budget, with the difference made up from earlier work done under budget. The commission qualified its authorization for $525 million in new securities by citing the need for approvals from the commissions of surrounding participating states and the need for continued evidence that investment in Seabrook-1 is prudent.

• OSTI ID: 5717266
• Journal Information: Electr. Light Power; (United States), Journal Name: Electr. Light Power; (United States) Vol. 63:6; ISSN ELLPA
• Country of Publication: United States
• Language: English

Related Subjects

21 SPECIFIC NUCLEAR REACTORS AND ASSOCIATED PLANTS
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29 ENERGY PLANNING, POLICY, AND ECONOMY
290600 -- Energy Planning & Policy-- Nuclear Energy
BUDGETS
COST
COST OVERRUNS
COST RECOVERY
FINANCING
INVESTMENT
NUCLEAR FACILITIES
NUCLEAR POWER PLANTS
POWER PLANTS
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PWR TYPE REACTORS
REACTORS
REGULATIONS
SEABROOK-1 REACTOR
THERMAL POWER PLANTS
WATER COOLED REACTORS
WATER MODERATED REACTORS