Until yesterday, Dominion Virginia Power‘s official position regarding its North Anna Power Station is that, although it had filed an application with the Nuclear Regulatory Commission to build a third nuclear reactor, it had not committed to the project. Now it appears that Dominion is, in fact, determined to become the first electric utility in the United States to build a new nuclear unit in the past 30 years.
In an interview on CNBC yesterday, CEO Thomas F. Farrell II said the company is “trying very hard to build one. And I think we will.”
Dominion’s website hasn’t kept up with the policy shift. A page about clean energy and nuclear power still says, “Dominion has not yet committed to building the unit.”
Back in November, David A. Christian, chief nuclear officer, spoke of “keeping the nuclear option available to help meet our customers’ future energy needs.” At the time, Dominion was “conducting a detailed cost study to determine if we will move forward.”
Clearly, Dominion was very serious about examining the nuclear option. But the company has never stated officially that it intends to proceed with the project. Farrell’s comment, at the tale end of the CNBC interview, implies that for all practical purposes an internal decision has been made.
The price of gas, coal and oil are rising as worldwide demand for fossil fuels continues to grow, Farrell told CNBC. Meanwhile, concerns mount about the emission of carbon dioxide, a gas implicated in global warming, from the combustion of fossil fuels. “It’s changing the equation, we think in our industry, in favor of nuclear, among many options that need to be pursued.”
Dominion has just started construction of a new coal-fired power plant in Wise County, it is committed to add to its portfolio of renewable energy sources and it is pursuing conservation and energy efficiency. But all options must be pursued, Farrell told CNBC. Nuclear “produces large quantities [of energy] in a reliable and efficient way,” he said. Nuclear power plants are operating more safely than at any time in history. The country needs to include nuclear power in the mix – from 104 plants now to 200 to 250 in the future.
“Americans want to see more nuclear plants built. We’re trying very hard to build one, and I think we will. And I think our plant will be the first to come on line in more than 30 years,” said the Dominion CEO, adding that he expected the North Anna unit to come online by 2016.
(Note: This story was cross-posted from Richmond.com. Greg Edwards first picked up on this angle in the Times-Dispatch.)
