ALBANY, New York (WWNY) – A state watchdog group says it is concerned about the costs that could come with new nuclear power development in New York.<\/p>\n
Gov. Kathy Hochul and other lawmakers have been pushing to develop nuclear power facilities to offset rising energy prices and demands.<\/p>\n
\u201cWe\u2019re going to build more nuclear than the entire country has in 30 years. That is my ambition. But it\u2019s beyond an ambition; it\u2019s something I\u2019m going to execute,\u201d Hochul said last Friday.<\/p>\n
Watchdog cites $24 billion cost estimate<\/p>\n
A group called Reinvent Albany says turning that vision into reality could bring $24 billion in taxes and electricity charges due to government subsidies, which they say is outlined in NYSERDA\u2019s Advanced Nuclear Policy Options Paper.<\/p>\n
\u201cThe fiscal burden placed on taxpayers and ratepayers is huge at 24 billion. It could be even more than that, and there\u2019s a great risk associated with it given the potential for costs and construction overruns,\u201d said Alex Camarda, senior policy advisor at Reinvent Albany.<\/p>\n
Camarda pointed to financial risk, noting that the only two reactors built in the U.S. in the last three decades were $20 billion over budget and seven years late.<\/p>\n
\u201cThey\u2019re complicated projects, and usually the cost that\u2019s projected is far exceeded by the reality on the ground,\u201d Camarda said.<\/p>\n
Lawmaker says risk can be managed<\/p>\n
Assemblyman Scott Gray said the problem in those prior projects was human error in the engineering department and said that would not happen in New York.<\/p>\n
\u201cWe\u2019ve learned a lot, and that is: don\u2019t engineer what you\u2019re building. Make sure it\u2019s all engineered and ready to go and then you stand up the site,\u201d Gray said.<\/p>\n
A spokesperson for Hochul said, \u201cAdvanced nuclear is one of the best available options to provide relief to consumers while strengthening the resilience of New York\u2019s grid with round-the-clock emission-free energy that complements our continuing nation-leading efforts on wind and solar.\u201d<\/p>\n
Gray said he believes nuclear power is the best way forward.<\/p>\n
\u201cIf you want to meet our climate targets in terms of reducing our emissions and have firm baseload power, nuclear is the only answer,\u201d Gray said.<\/p>\n
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