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Show IB il The Salt Lake Tribune, Sunday. March H, 1982 Utilities Overcounted Electricity Demand Consumer advocates in New York have been pressing, so far unsuccessfully, for cancellation of the half-buinuclear $4.9 billion Nine Mile Point-plant on Lake Ontario, which is the nations costliest such facility in terms of construction cost per kilowatt of electricity. The plant, now scheduled to begin operation in 1987, was projected to cost $381.7 million when construction began in 1974. In Michigan, the attorney general sued two state utilities to block their construction financing plans, a move rejected in January by the state supreme court. Missouri regulators prevented Kansas City Power & Light from putting a new coal-fire- d station into its rate base because, they said, the company already was charging customers for excessive capacity. The New Hampshire Public Service Commission ordered Public Service Co. of New Hampshire to sell a portion of its interest in the $3.6 billion Seabrook nuclear plant or face the likelihood that the commission will order the whole This project delayed or canceled. commission cannot allow Public Service Co. of New Hampshire to slide into bankruptcy, no matter how valid their intention, the commission said in a rate decision. Elsewhere, regulators have encouraged companies to cancel plants planned for the 1990s by offering, in some cases, to allow them to pass on to customers accumulated design and engineering expenses if the plant is dropped. For instance, Public Service Electric & Gas Co. of New Jersey said recently it was canceling its Hope Creek-- 2 nuclear unit after an agreement with state regulators to pass on the $172 million spent so far to ratepayers over a period. The company said it was unable to afford further financing without losing its double-credit rating. Public Service Co. of Oklahoma and two electric cooperatives scrapped plans for the Black Fox nuclear plant near Tulsa after an outside consultant hired by the Oklahoma Corporation Commission, Touche Ross & Co., said the project was economically unfeasible. The company said the commission would permit it to recover its $209 million share of project expenditures through a surcharge to customer rates over a period. (Copyright) Continued From Page 6 about the dangers of nuclear power. Electric companies were already shying away from nuclear energy because of the problems they were having: construction delays, environmental opposition, high fixed costs, inflexibility and unpredictable demand," says Merrill Lynchs Hyman. TMf simply added a few more risks: cost of purchased power, potential bankruptcy and a host of political and regulatory tangles when something i goes wrong." Among the recent nuclear cancella- tions were: Carolina Power & Light Co.s Shearon Harris nuclear units 3 and 4, Public Service Electric and Gas Co.s (New Jersey) Hope Creek-generating plant, Boston Edison Co.s nuclear plant, and Northern Pilgrim-Indiana Public Service Co.s planned Bailly reactor on Lake Michigan, Analysts estimate that as many as 11 of the 70 nuclear units still under construction will be dropped before completion. Hardly a week goes by when you don't find a plant has been canceled or a plant postponed, says j Richard J. Spletzer, senior vice presi-- i dent of Duff & Phels, Inc. As a result of plant cancellations, construction spending by the industry is ' expected to peak this year at $32 billion, although it will decline only slow through the That, along with tax breaks granted by Congress last year, will take some of the financial pressure off the com-- j panics, although they still will need to raise $81.9 billion by 1985 through borrowing and stock sales to finish construction programs, according to Sletzer. The utilities have found it difficult, and they say uneconomical, to drop a new plant once construction is under way. Reviewing Commonwealth Edisons construction program during 1980, the Illinois Commerce Commission concluded that it is abundantly i clear . . . that once substantial j expenditures have been made on the construction of generating plants, little flexibility, if any, exists to change the scheduled completion of such plants without incurring substantial penal- ties. 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