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Author Topic: Crystal River..the silent but deadly plant  (Read 5314 times)

Offline Littleenki

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Crystal River..the silent but deadly plant
« on: August 13, 2012, 01:18:11 pm »
I live within 60 miles of Crystal River Nuclear Plant, which as shut down due to cracks in certain areas which are rendering the reactor unsafe...heres a clip from tampabay.com about it..any thought Thor and gang?

http://www.levydisaster.com/rep.aspx




Quote

http://www.tampabay.com/news/business/energy/secrets-about-crystal-river-nuclear-plant-could-be-revealed-at-hearings/1240772

Duke Energy's new Florida customers may find out this week just how good the utility is at keeping secrets about the troubled Crystal River nuclear plant.

The North Carolina Public Service Commission has summoned several Duke board members to explain the less-than-one-day tenure of Bill Johnson as CEO of the newly combined Duke-Progress Energy giant.

Johnson's "lack of transparency" in his accounting of the busted Crystal River plant seems central to his ouster. Duke has revealed that its own secret report highlights the plant's problems, but it has thus far resisted releasing the study.

The commission's unusual move to call Duke board members to testify, experts say, sends a clear message that the utility needs to justify the removal of the man that for 18 months was slated to lead the company after the merger. That could mean revealing what the secret report concluded about the Crystal River plant.

There's little cover for any of those who will take the stand. What the board members heard leading up to Johnson's ouster and the statements they made are not protected by confidentiality, experts say. "They're now going to have their feet held to the fire to identify what it was that led to their decision," said Mark Cooper, senior fellow for economic analysis at the Institute for Energy and the Environment at Vermont Law School.

Added David Larcker, a Stanford University Graduate School of Business professor: "What was it that happened that caused you to lose faith in the person so quickly? What was the process you went through? What meetings did you have?

"It's not going to be fun to be on the stand describing this," Larcker said. But "it will be fun to be there and listen to it."

The hearings begin Thursday with testimony from Johnson and two former Progress Energy board members, E. Marie McKee and James B. Hyler Jr., both of whom became Duke board members. They voted against Johnson's ouster. They will be followed Friday by Duke board members Ann M. Gray and Michael G. Browning, who in the weeks leading up to the merger voiced a deepening loss of confidence in Johnson.

The commission and the North Carolina attorney general opened investigations into Duke's decision about its chief executive just days after the utility closed the merger July 2 and removed Johnson.

At the commission's first hearing on July 11, the panel peppered Johnson's replacement, Duke CEO Jim Rogers, with four hours of questions about what led to Johnson's departure. Rogers rattled off criticisms of Johnson's management capability and "lack of transparency" in revealing problems with the utility. In particular, he cited ongoing troubles at the Crystal River nuclear plant in Citrus County, underperformance of the overall nuclear fleet and Progress' weaker financial status.

The two utilities announced plans to merge in January 2011. At the time, the Crystal River plant was expected to restart power production two months later after a maintenance and upgrade project, as well as a repair of a crack in the concrete containment building. But as workers moved to restart the plant, the reactor's 42-inch-thick concrete containment building cracked again. Months later, as it sat idle, the building suffered a third crack.

The 36-year-old plant has been out of service since fall 2009. It may have to be shut down permanently because repair and related costs are expected to run in the billions of dollars. The merger moved forward with the utilities rarely mentioning Crystal River. But as the merger closed, the new combined board voted 10 to 5 to replace Johnson with Rogers.

James Cox, a Duke University law professor of corporate securities law, said the hasty move unsettled investors because it raises questions about the board's decisionmaking and judgment. It was "terrible" from a public relations standpoint, he said.

"If they couldn't handle (the CEO decision)," Cox said, "how the hell are they going to handle this pressing problem with a multibillion(-dollar) potential time bomb?"

In addition, Cox and others said the board's divided vote on Johnson heightens investor concern because it highlights the rift among its members.

"Is this board functioning well?" said Larcker, the Stanford business professor. "Are they being transparent? If you're an analyst, you're going to worry about something like that. It's additional risk associated with the company."

Duke shareholder Lesley Rupp filed a lawsuit in Delaware Chancery Court on Tuesday against Duke Energy over the board's decision. She alleges the directors conspired to oust Johnson in violation of their responsibilities to the company.

Johnson's departure also has prompted dozens of letters to the commission to fine Duke or even break up the merger. One Johnson supporter created a website www.mybilljohnsonstory.com to show support for the former executive.

Cox and others believe the divide on Duke's board, within the company and throughout North Carolina, where both utilities were based — Duke in Charlotte, Progress in Raleigh — will continue to manifest itself. And a focal point of the divide, the experts say, will be Crystal River. Johnson wanted to repair the plant while Rogers has spoken of giving more consideration to shutting down the reactor. Either way, customers could be on the hook for millions of dollars, if not billions.

The Florida Public Service Commission on Tuesday invited Duke Energy CEO Jim Rogers to an Aug. 13 status update on the broken Crystal River nuclear plant, and the utility says he will attend.

And nothing yet as of August 13th...
Littleenki
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Offline thorfourwinds

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Re: Crystal River..the silent but deadly plant
« Reply #1 on: August 16, 2012, 05:39:06 am »
Greetings, my brother:

Good Stuff!

We'll be back with supporting information that one may find rather interesting.

Peace Love Light

tfw   

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EARTH AID is dedicated to the creation of an interactive multimedia worldwide event to raise awareness about the challenges and solutions of nuclear energy.

Offline Littleenki

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Re: Crystal River..the silent but deadly plant
« Reply #2 on: October 05, 2012, 11:26:36 am »
Heres the latest on Crystal River Nuke plant..someone's got a hefty bill coming in the mail..hope it isnt Mother nature...


http://www.marketwatch.com/story/duke-nuclear-plant-costs-could-top-3-bln-study-2012-10-02
Quote

Progress built Crystal River, about 80 miles north of Tampa, and put the reactor in service in 1977. Progress Energy Florida has 1.6 million customer accounts in the state. In 2009, workers cut a hole in the plant's concrete-and-steel containment structure, a vital radiation barrier, to replace equipment inside. Soon after, a section of the 42-inch-thick wall was found to be cracking and pulling apart, and repairs were made. In 2011, layers of concrete were found to be separating in another section of the wall, prompting questions about whether the plant could be repaired or should be scrapped.

Duke is still considering whether to repair the nuclear plant or shut it down permanently, Alex Glenn, president of Progress Energy Florida said Tuesday. Mr. Glenn said Duke's decision whether to fix the plant or shut it down would depend on "the final analysis," which was still ongoing.

As Thor would say..Good Grief!

Le
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Offline Amaterasu

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Re: Crystal River..the silent but deadly plant
« Reply #3 on: October 05, 2012, 11:37:30 am »
Quote
any thought Thor and gang?

Move to Rabun County...  [smile]
"If the universe is made of mostly Dark Energy...can We use it to run Our cars?"

"If You want peace, take the profit out of war."

Primus58

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Re: Crystal River..the silent but deadly plant
« Reply #4 on: October 05, 2012, 11:40:47 am »
Move to Rabun County...  [smile]
AMATERASU... LMAO!!! :D

Offline Amaterasu

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Re: Crystal River..the silent but deadly plant
« Reply #5 on: October 05, 2012, 11:54:31 am »
Hey, it's lovely here and no nukes really close by.  Also about 1000 ft above sea level and 300ish miles from the nearest coast.

Can't think of a better place to be.
"If the universe is made of mostly Dark Energy...can We use it to run Our cars?"

"If You want peace, take the profit out of war."

Offline Littleenki

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Re: Crystal River..the silent but deadly plant
« Reply #6 on: October 05, 2012, 12:05:17 pm »
Hey, it's lovely here and no nukes really close by.  Also about 1000 ft above sea level and 300ish miles from the nearest coast.

Can't think of a better place to be.

Shes right, Woody, its nice there!

Le
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