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Redolent George Vander -- joins us president and CEO of units start nuclear energy.
At a Baltimore we said we are gonna talk about some other options here at some other ways to look at this whole -- energy debate.
What about nuclear tell us about the -- what we'll talk but your company.
It particularly at this joint venture -- -- constellation and then we can talk a little bit -- the pros and cons of nuclear energy in general but.
-- some -- the plans moving forward from your point of.
Well thank you -- thank you Tracy a pleasure to be here with you.
-- represent a company called units are nuclear energy and our intention is to start the nuclear Renaissance.
In southern Maryland with a plan that we have down at the Calvert Cliffs facility where there are already located two nuclear reactors.
And our intent -- the building new nuclear energy facility.
That takes advantage of French technology from a company called -- it's the United States evolutionary power reactor.
And we intend to kick off a nuclear Renaissance with that project -- stop you right there because one of our viewers.
Name's Edward and actually he wrote his name is being Edward scissor hands at some of the story.
Could somebody please explain nuclear energy so he wants.
Kind of a and this is -- a primer on the whole technology because I could see how people can get all this stuff confuse -- original and -- today Simmons is important going nuclear we think we're gonna implode so yeah what about educational.
Explanation of nuclear.
-- -- -- -- -- nuclear energy has been around -- this country since the 1950s and even use it to generate electricity and it's just a different way to generate heat.
-- boil water.
Most people are familiar with that about 70% of the energy in this country is generated from fossil fuels mostly coal and natural gas and we understand that those burn and they generate heat and then we generate steam from that heat -- water and turn a turbine turn a generator and make electricity.
The difference with nuclear energy is we just do that by splitting the atom and interestingly there's about ten times the amount of energy and then.
-- -- that there is in any other form of electricity generation type of energy.
And it tends to be one of the most efficient ways we have to generate electricity in this country.
So now you're looking to get.
-- you have these new reactors and if approved easily could be in effect or be usable by 2016 can you explain more about your new reactors and how -- work.
Yeah that's that's a great question Tracy thanks for that what what's happened in this country I think that you're aware of and maybe most of the public -- and as we haven't built a nuclear energy facility in this country for over thirty years.
So for last thirty years we've been working on improving the technology updating the technology and making it much much safer.
Our design in particular the US CPR we believe to be the safest technology available in the world today.
It's currently being built in both Finland France and China so we brought -- the United States that would be the fourth country that would build this technology.
And we've introduced a lot of safety features like 4100%.
Redundant safety trains that allows us to keep the core cool.
And also things that -- respond to what the American public has become concerned with since nine elevenths terrorism and those types of things right we're the only design that has a dual containment for safety trains -- action for.
Our fuel pools and everything else and we believe it's the safest design out there.
All right so that's -- -- that is.
You know it's it to -- Georgia looking up some of the objections and -- -- this is so much written back and forth about.
This technology vs -- one you've already addressed to some degree this in -- this is terrorism.
You know that nuclear power plants -- terrorism target for example of what have you you can talk a little bit more about that if you want the other one that seems to come up a lot.
At least some people say.
Is that it's not -- cost effective as some of the other alternatives out there when he cigarette.
That that we tend to get tacked on on the terrorism is an issue and ours our safety record is is very good in the United States especially for the last thirty years.
And on the efficiency issues and the cost issues associated with nuclear energy.
Our company intends to build this new nuclear reactor down at the Calvert Cliffs facility with our own money.
And with our own backing and -- not asking the ratepayers for any assistance and and we just want the chance to compete in the marketplace.
Our feeling is and the last thirty years of producing electricity with nuclear energy is -- out.
This turns out to be the cheapest form of electricity to the grid and thus for the consumers that ultimately -- The cost of this it turns out to be the most efficient way for us to produce large.
Forms of electricity and -- advantage of nuclear energy is it's 24 hours a day seven days point three out of the tabloid editor haven't economics network then specifically because again today everybody says -- not -- cost effective at UC NN have been cheapest.
Well the interesting part is the people that say it's not cost effective or not the ones that intend to bear the burden of this work to build it.
We are the company that would actually bear the burden of this and from our economic analysis -- give you a couple examples.
Is coal in this country you can produce a coal plant for about 3000 dollars per kilowatt installed the kilowatt hours.
About a thousand homes in in in the country.
Nuclear energy on to compare that is more expensive initial cost it's around 4006000.
Dollars per kilowatt installed.
But then it's actual production cost what it cost to produce electricity and go to the grid is much much cheaper.
And I listen to your left analysts and they had it right under cap and trade or any form of up carbon tax whatever form it takes in this country.
What we're gonna see is the price of fossil fuels escalate rapidly we're nuclear energy produces no carbon.
When it generates electricity and that's -- we think the real economic advantage of this is in the future.
So -- we wouldn't need this -- -- trade mess if this if we could potentially figure out how to go nuclear.
And I say that news without imploded -- -- country.
And do it efficiently what -- results you think you have found plants in Finland France and China what kind of results are you seeing over there.
Well those plants are just being built right now it's a matter of fact the one in Finland does not scheduled to come online until about 2012.
And the one in -- is likewise not scheduled come until about 2012 so it's too early to talk about.
What they're actually doing from -- production cost basis what we've done is look at how efficient these new reactor designs aren't compared that with the current generation technology.
And we -- -- looked to be about twenty to 30% more efficient so the -- the technology that's running today.
Is the cheapest form of energy on the market that's what we're confident saying the new technology will be even cheaper.
-- -- our viewers actually asked how long does it take to build a nuclear plant.
It is a huge capital investment up front and takes a long time the interesting part is it actually takes us about four or five years to build a nuclear energy facility and get it on the -- get -- running book before we're allowed to build it.
It takes about four years just to go through the state and federal licensing processes in this country right so the total time -- about eight years from when you decide to start one of these fraud and one of our other viewers -- along those lines which states do you feel can facilitate more of these plants being built vs others who's who's the most friendly to.
Well right now offer units are we envision that there will be at least four of these new nuclear energy facilities across the country our first one is in Maryland.
Our second one is in the State of New York.
Were working with one of our partners called -- in Missouri and we're working with Pennsylvania Power and Light in Pennsylvania.
But there -- other technologies that are talking about different forms of nuclear reactors in about twenty different states in the country right now.
My parents and an -- is that.
OK thank you very much for coming on and and you know that was I just another part of it George thanks a lot thanks -- thank you got.
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