By Staci DaSilva
sdasilva@kcautv.com
Right now, the Duane Arnold Energy Center in Linn County is the only nuclear power plant in Iowa.
But that may soon change. MidAmerican Energy wants to build a brand new nuclear power plant.
But critics say the companies inability to get outside capital is proof nuclear is not the way to go.
Economic Analyst Mark Cooper said, "Nuclear power is really not economic, it can't compete with the alternatives and it's so risky, they can't raise capital in the normal financial market."
A bill currently in front of Iowa's Senate Commerce Committee, would give MidAmerican Energy the option of looking into building a nuclear power plant.
If the company is able to cut through all the red tape and get approval for the project, some people aren't going to like how the company plans to pay for construction.
MidAmerican's Tina Potthoff said, "To build a nuclear power plant requires significant capital required for a nuclear facility and not only would MidAmerican Energy be putting some of its costs on the table, but it would also need customers to assist on that."
Which means the average Iowa home would see about an $8/month increase over 12 years for the $1 billion project.
But some say, being forced to pay for something before it's been approved just isn't right.
Cooper said, "That's not the way we usually do things in America, right? When you walk into a shoe store and buy a pair of shoes, you get the service of those shoes when you purchase them."
MidAmerican argues that the rate hikes before construction will be less than if it waits until after construction.
The bill, which passed in the House last year, has about a month to pass in the Senate before it expires and MidAmerican must start all over.
