Boise, Idaho News, Weather and Traffic - KTRV Fox 12 - Nuclear Power Plant to Continue Despite Negative Audit
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Boise, Idaho -- It was about a year-and-a-half ago when we first heard about a nuclear power plant being proposed at a site near C.J. Strike Reservoir.
From the get go, the idea met with controversy with the latest involving a recent audit of the company involved with the plant.
Opponents say it should be more than enough reason for Idahoans to turn their backs on nuclear power once and for all.
"Idahoans were skeptical when this began about a year-and-a-half ago, and they should be even more skeptical now," said Andrea Shipley, Snake River Alliance executive director.
That's because the company proposing to build a nuclear power plant in the Gem State is losing money.
According to a recent audit, Alternate Energy Holdings, Inc., lost $4.9 million in 2007.
Shipley says that should be a red flag -- that, and the fact that AEHI is, by it's own admission, a start-up company looking to build a $4.5 billion plant.
"We're talking about building a commercial nuclear power plant, we're not talking about building a retail store," said Shipley.
Where the Snake River Alliance is concerned, that could be considered a moot point, because at it's core, the alliance is simply against nuclear power regardless of who's building the plant.
"Nuclear power is an environmental, economical, and energy loser in Idaho," said Shipley.
But according to AEHI chairman, Don Gillespie, nuclear is the way to go because it's cost effective, green, and will provide much-needed power on a large enough scale.
Plus, he says his company is not going under despite the recent audit.
"Our stock has gone up by a factor of four -- I should have bought some -- in the last two months. So people are making money on the stock," said Gillespie.
He admits AEHI lost money last year, much of which was due to moving the proposed site 15 miles away from Owyhee County to Elmore County, but that hasn't stopped investors from getting involved.
A Houston company called Powered Corp is about to lend its support.
"We think we have the know how, we're just trying to find the finances, and we think we have something lined up with this new company powered to bring in financing to allow us to do that," said Gillespie.
In fact, Gillespie is hoping the merger with Powered will be complete by Labor Day, which could help to put the proposed plant online by 2016.
"I just say to Snake River Alliance, please, let me see your plan for providing energy to Idaho and the West and I might like it, and I might like it enough to sign up for yours. You don't like mine, let me see yours. I haven't seen anything they're proposing that's going to work," Gillespie said.
While Alternate Energy Holdings is a relatively new company, those working there say they each have about 30 to 40 years of experience with other energy companies.
They say they fully expected the audit results, and that the next audit will be relatively similar.
According to Gillespie, he doesn't expect positive returns for at least five years.
