In an April 13th, 2011 article, Reuters reported that prospects for completing the project are bleak.* It quoted the CEO of NRG Energy, David Crain, as saying "the project's odds of success have dropped substantially". He went on to say that even if they get loan guarantees, it will be "an uphill battle". Translation: unless they can find more "investors" like the HTC in San Antonio, they can't build the reactors. They are certainly not going to use their own money. These remarks are consistent with reports since the March 11th disaster in Japan. None of these reports even mention San Antonio, recognizing that the people here, thanks to the Happy Talk Chorus, have been played,
and are not players worth noting.
For San Antonio and its hardworking ratepayers, most of whom slog through on very modest incomes, this is a disaster. The unthinkable may very well happen. Our entire
four hundred million may go straight down the toilet. CPS had to borrow that money.
Electric rates in San Antonio, deal or no deal, have been projected to rise up to forty percent in the next ten years.
Mr. Crain's remarks of the 13th were not reported in San Antonio.
- Since Mr. Crain's remarks on 4/13, NRG has officially dropped out, declaring it would write off its 331 million spent as a loss. This leaves the consortium entirely led by Japanese interests. Toshiba is trying to carry the ball. San Antonio continues to be the invisible man in financial reports. The odds that the people of San Antonio will lose their entire 400 million in cash have risen from maybe to probable, Although this may be the greatest financial disaster ever for San Antonio, the media here continue to downplay or ignore the story entirely.
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