So why has it been so long since a license was granted?
Interestingly, the experts we spoke with said it’s not because of bureaucratic hassles or super-stringent rules. Rather, it’s because building new plants is expensive, and the dynamics of the energy market haven’t made new reactors a good deal for energy producers.
The Nuclear Information and Resource Service opposes nuclear energy as "dangerous, dirty and expensive," said executive director Michael Mariotte. It’s the expensive part that’s made for the long wait, he said.
Energy companies have struggled to build plants in a cost-efficient manner, and the Georgia plants are a long way from being finished, he said. The Southern Co. is trying to construct two reactors at once, which makes for more operational complexity.
"If history repeats itself, then they won’t get built. We’ll have to see how much the industry has learned in the past three decades in terms of managing construction costs," he said.
His group is part of a lawsuit to stop the construction, on the grounds that the reactor designs need to be updated with lessons learned from the recent nuclear disaster near Fukushima, Japan. (The Nuclear Regulatory Commission approved the license on a 4-1 vote; the dissenting vote was cast for that reason.)
A sunnier take on the three-decade wait is that the nuclear industry has been really good at innovating and getting more electricity out of its existing plants. That’s what Steve Kerekes of the pro-nuclear Nuclear Energy Institute told us.
"From essentially a static number of facilities -- a little over 100 --we’ve increased our electricity output roughly 40 percent. That’s the equivalent of nearly 30 new reactors since 1990, and we’ve done that from existing facilities," he said.
Nuclear executives say they would build more plants if the current energy markets were different. The Georgia plant is going forward in a state where regulations
allow utilities to bill customers for construction costs before the plant is finished.
By way of contrast, the Illinois-based nuclear energy company Exelon operates in many states where that’s not the case. Exelon executives have said plainly
it makes little economic sense for them to build new plants, citing two more factors. First, natural gas prices are very low. Second, Congress has abandoned plans to address global warming through a cap-and-trade system or other attempts to limit carbon emissions from coal-fired electricity generation. Both those things work against the business case for building new reactors. (Exelon executives, by the way, donated to Obama’s 2008 campaign, as we noted in this
fact-check.)