alt Hacker NewsEverybody knows about the upfront cost, but the size and long tail of costs after the plant has been built, or when unforeseen events occur, is largely hidden from all financial statements. So much so that people actually believe that nuclear power is cheap, when it's not.
But the truth surfaces of course - you can look at the financials of EDF in France (nationalized in 2022 with 60+ bn euros in debt), KEPCO in Korea (145 bn in debt), or incidents like Asse II in Germany, Sellafield in the UK, Rancho Seco in the US.
Billions of taxpayer money covering costs caused by the nuclear industry, and not appearing anywhere in any statement of estimates of nuclear power costs. Large, double-digit plant operators basically or literally bankrupt.
Different CEOs of the swedish electric company Vattenfall have stated repeatedly that nuclear power is not viable unless the state pays. Here is a recent such statement: https://www.reuters.com/sustainability/climate-energy/swedis...
This to me is the bottom line. If nuclear power was cheap and profitable, people would be in line to build them as soon as they get approval! Instead, they want money.
The truth is that the industry sees no way to profitability here, except when they get access to current and future taxpayer money. This has always been the case for nuclear power and still is.
This argument cherrypicks legacy cleanup sites and distressed utility balance sheets, then treats them as proof that nuclear electricity is inherently uneconomic.
The real issue is narrower: new nuclear is capital intensive and hard to finance without long term revenue guarantees, while old waste sites can impose large public cleanup costs.
Decommissioning and waste are included in serious cost models and regulatory funding requirements, existing nuclear life extensions can be among the cheapest firm low carbon power sources, and KEPCO/EDF’s debts reflect tariff policy, fuel shocks, outages, state interventions, and investment cycles. Not simply “nuclear power is unprofitable.”
The honest conclusion is that nuclear needs strong regulation and disciplined project delivery, not that nuclear is categorically fake-cheap.
Aka what I said earlier: you need the ability for strategic long term thinking and planning and execution.