How Much Does It Cost To Insure a Nuclear Power Plant?

[kristopher]

How Much Does It Cost To Insure a Nuclear Power Plant?
by Andreas Spath
October 28, 2011


What are the potential financial consequences of a disastrous accident at a nuclear power plant? And how much would an insurance company charge to cover the risks involved in operating such a facility?

...The conclusions of the study are rather startling, with damage estimates varying from a minimum of 150 billion euros to a maximum of around 6 trillion euros. It states that “the calculated sum which would have to be made available in case of a nuclear disaster is 6.09 trillion euros.”

If the resulting liability insurance premium were to be added to the cost of generating electricity at a nuclear power plant, it is estimated that the cost per kilowatt-hour would increase by between 0.14 and 67.3 euros, making nuclear energy totally uncompetitive with renewable sources.

In the end, the issue is academic. As the authors of the German study point out, “there is no way to guarantee full coverage of the risk.” They emphasize that in practical terms, nuclear disasters at atomic energy plants are not insurable. Which is, of course, why no nuclear reactor has ever been insured against the risk of disaster anywhere in the world. And it’s also why, when such disasters do occur, society at large, through the contributions of ordinary taxpayers, has to foot the bill.

http://www.care2.com/causes/how-much-does-it-cost-to-insure-a-nuclear-power-plant.html

[krispos42]

1. Nothing.

This is the Corporate States of America. All costs get passed onto the Federal government and thus the taxpayers.

;-)

[Tesha]

2. Less than it ought. You know the motto: Privatize profits; socialize costs. (NT)

[KT2000]

3. They will not insure

genetically modified organisms either. As post #1 said - we pay.

[Turbineguy]

4. No problem.

Banks will sell derivatives on it (looking for a catchy acronym). Speculators can buy these and a lamp that burns out at a nuclear power plant will trigger 2165 trillion (take your pick, euros or dollars) in payouts, wiping out the financial system of the this and the next 63 nearest galaxies.