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Westinghouse Files For Bankruptcy Protection

Discussion in 'News Links' started by Hobbes, Mar 31, 2017.

  1. Hobbes

    Hobbes Sharpshooter

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    Too long to repost here so I will post the link and a few excerpts.


    Westinghouse, one of the most storied names in the nuclear energy business, filed for bankruptcy on Wednesday, dealing a blow to the future of the nuclear power industry and leaving question marks about the future of four reactors currently under construction in the United States. The filing also brings to an end the marriage of Westinghouse and Toshiba.
    ....
    Yet Westinghouse ran into trouble on both sites. Though the AP1000 was supposed to be a standard design, changes were made in South Carolina. Moreover, Westinghouse plans included modules built in Lake Charles, La. that were supposed to fit together "like pieces of Lego," said a former regulator. But Nuclear Regulatory Commission files say that the Lake Charles plant was shipping faulty modules, forcing Westinghouse to reweld them at the reactor sites. An entire extra building was erected to do the welding because there was so much of it, according to one person familiar with the construction.
    ....
    Another wrinkle in the Westinghouse saga is that the Energy Department provided more than $8 billion in loan guarantees to help finance the Vogtle pair of reactors. Those guarantees were given to the utilities, so the U.S. government and taxpayers should not be liable for any losses.


    http://www.oregonlive.com/business/index.ssf/2017/03/westinghouse_files_for_bankrup.html
     

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