All bets and estimates are off if the applicant decides to be innovative and use one of the half dozen or more other technologies that have been proven at demonstration scale through several decades of testing here and abroad. Surprisingly, regulatory costs are often neglected or misinterpreted in regulatory assessments, except—though only recently—for administrative compliance costs. The other terms generally require the application of judgment based on the characteristics of the individual rulemaking. http://smartech.gatech.edu/bitstream/handle/1853/42061/tedder_abel_cahill.mp4?sequence=1 An average size hospital dedicates 59 4. 8���D� Where did you see the paragraph that you seemed to quote? I fail to see how this is good policy. To me, nuclear is a great backstop technology whose time is sometime in the future in a fossil-fuel-rich world given relative economics. If the fossil industries “competed” in the same regulatory environment, it would be no contest, nuclear would run them off the track. Nuclear blogger Rod Adams has the devastating details of how the study came to public attention and its rapid fall from grace. On the smoking gun, good detective work. I thought it was Monbiot but it is by Idaho Samizdat on Dec 3. Compliance costs are all the costs of complying with regulation, with the exception of direct financial costs and long term structural consequences. For example, the level of a cost-based user fee or cost-based regulatory charge may reflect the desire for expedited service or the differing financial circumstances of citizens or within industry user groups. Politicians and legislators also prioritize these concerns, given that new policies can significantly affect important societal factors, such as the national economy or the political landscape. And a regulatory scheme that is so large as to be impossible to manage effectively? Just imagine, your facility has just been swamped by a huge tidal wave, all of your diesels are washed out, your emergency switchgear is fried, the lights are out, your ceiling is falling on your head, and your instruments are showing that water level is dropping and temperatures are rising. This is the case that we see with nuclear power. An example of this regulatory cost would be the capital holding costs incurred by a business associated with delays in approval processes. http://smartech.gatech.edu/bitstream/handle/1853/42061/tedder_abel_cahill_streaming.html?sequence=2 Applicants for a federal license (design certification, early site permit, construction permit, or combined construction and operating license) pay full cost of the application process. These costs including legal costs, and other managerial costs incurred in … existing regulatory compliance costs. Atomic Show #287 – Darren Gale, VP Commercial Operations, X-Energy talks about Xe-100, Open Letter to Interim Storage Partners and Holtec – please find better locations for your CISF projects ASAP. Natural Monopoly: Regulation, Advantages, Disadvantages and Examples October 18, 2019 By Hitesh Bhasin Tagged With: Sales management articles Natural monopoly as the name suggests is a type of monopoly that exists in the industry because the infrastructural costs give the largest and in many cases, the first supplier an overwhelming advantage over his competitors. This does not include GHG emissions. The times I have been wrapped up with the nuclear regulation tarbaby, it always seemed to come down to a go-along-to-get-along attitude on the part of management for one basic reason: it was “easier”. That the bargain as Weinberg described did harm without providing any benefit. This is not good news for our country. It is the most highly regulated industry in the country. It is when there is a risk that is internalized but the government imposes additional regulations, costs, on the good being sold beyond the damages that they induce to the broader economy. The externality represents the reallocation of consumer surplus to the producer with an accompanied loss of efficiency in the market. If you’re going to do it for nuclear, it would seem fairest to do it for other non-carbon emitting sources as well. 100 0 obj <> endobj https://atomicinsights.com/2011/07/update-on-fast-reactor-group-challenge-to-mit.html. “Caldicott cites as her source a discredited study published by the New York Academy of Sciences (NYAS). Please don’t look to Canada as an exemplar of good nuclear regulation. Remember, our design is simply a refinement of currently well proven light water reactor technology used to produce steam for a very well proven Rankine cycle heat engine. The Financial Cost of Healthcare Regulatory Compliance. Other estimates have found even higher benefit-to-cost ratios, he said. Taxonomy of regulatory costs. Production is separated by regions, technology, and applications. Setting aside the mathematics, cost externalities can come from two sources. But, I have a feeling, just maybe, that they won’t be taxed. So nuclear plant sells carbon credits to coal, gas, oil plant. It sounds vaguely like the blog post that Dan Yurman, my fellow pronuclear blogger at Idaho Samizdat, posted a few days ago. Cost-benefit analysis (CBA) is a tool used by regulatory decision makers to identify the costs and benefits, in financial terms, of a regulation to society as a whole. But airport security regulations provide a familiar example of all three indirect costs. Along a similar vein, the regulations that nuclear power faces do not accurately represent the risks that nuclear power can induce. Now, Mr. Free Market advocate, do you understand why a nuclear fission heat engine that uses almost exactly the same kind of machinery as a fossil fuel combustion heat engine might cost several times more than it should in initial capital investment largely BECAUSE the fossil fuel-influenced US government has layered so much restraining regulation that I personally feel a little like Gulliver waking up in the land of the Lilliputians. That is what Jerry Taylor and others are trying to argue. Thus the axiom that the right action for the wrong reasons is still the right action and that we are judged by and for our actions. I suggest basic reform of the NRC before implementing a carbon tax. Countries that are anti-nuke will need carbon tax to force solar to be better than coal and gas. If we let our lives be governed by irrational fear it will kill us. http://web.mit.edu/mitei/research/studies/naturalgas.html No there way to say it. Giga-fren. The estimated cost in NRC fees of obtaining a design certification is $50-$100 million IF the application is based on light water technology that has a 55 year history on which to base decisions. One final example from first-hand experience. The other terms generally require the application of judgment based on the characteristics of the individual rulemaking. Do the various countries self-report? The act of over regulation follows a quadratic function of costs growth. I think the redemption is because Faust’s actions were keeping within the natural order and were not amoral. Atomic energy technology, politics, and perceptions from a nuclear energy insider who served as a US nuclear submarine engineer officer. On the other hand, regulations predicated largely on political expediency ought to be heartily challenged by the regulated entities. the reduction in regulatory costs to business over the period 2015–2020, from an estimated total of around £100 billion each year. Executive Order (E.O.) It’s amazing when you think about the fact that nuclear is still able to match or in some cases beat the competition even when hamstrung with the regulatory burden it has to manage. The report highlighted some examples of this increasing compliance burden, including new regulatory approaches like Australia's Financial System Inquiry report and legislation such as the Dodd-Frank Act in the U.S. With regard to the cost of regulation, here are just a few examples of the multitude of layers that I am talking about. However, rate-of-return regulation is often criticised because, unlike in an actual competitive market, a reduction in costs will not improve its situation, and hence there is little incentive to control costs. h�bbd``b`�Q@��HpZ V7H�{���������\�?c�� mS� I have been employed for the past 13 months on a project whose goal is to get a design certification for a refined light water reactor. Governmental and regulatory bodies often enact new regulations or update old ones. The government’s review of each page costs $273 per hour at this year’s rates. It is the tool of guilt that is being held over our heads. He is quick to put the record straight, but tends to overemphasize the role of his Agency in keeping the industry safe. When you have decided to tax something you are regulating it. Below is a link to a presentation that I gave at tech on the impact that coal and nuclear power can have on our economy, first file is 263MB, second link is streaming. Even with all its warts and foibles, the NRC might be the better mousetrap. After learning some microeconomics, I found that the optimal market general equilibrium point comes from a set of Pareto optimal points. Thank you for the link. This period begins from the date of registration of the regulatory change, and burden out can be banked at any time to offset burden in. It is natural, it is the “invisible hand”, it is what drives human action and it is what drives action in the world around us. I will keep pushing; it is an important topic. Yes, regulatory. Is there a conspiracy against nuclear energy? Host and producer, The Atomic Show Podcast. That tax was actually called a BTU tax. • Costs include the costs to regulated companies in complying with the regulation, as well as the direct costs to the regulatory agency of enforcement. Rod, I think he’s referring to this article, which I think you tweeted a link to earlier this week. As the AHA outlines in the report, the healthcare industry spends about $39 billion annually on the administrative facets of regulatory compliance. http://www.guardian.co.uk/commentisfree/2011/dec/05/sellafield-nuclear-energy-solution. These regulatory and compliance overexpenditures fall into eight categories, which in turn lead to eight cost reduction strategies. In learning economics, I found that the market will seek to identify the most efficient allocation of resources. Can be done in no time. I don’t like thieves. Cost-push inflation is rare. Just in economics they call it general equilibrium theory. It is either economics or writing a report on the poop problem of Concentrated Animal Feeding Operations. Overhead costs … Examples of how to use “compliance costs” in a sentence from the Cambridge Dictionary Labs In a world-wide scheme, who is going to do the counting? • Discounting means that higher benefits now make regulation more likely and that changes in … I needed a break. I think a bit of comparative study would help us ascertain if we lead the pack or simply are totally left behind and that the NRC should be revamped. It improves corporate efficiency, lowering costs for consumers. We need all the energy we can get from the ground and from splitting either Thorium or Uranium. Please subscribe to the Atomic Show RSS feed. It is a lie that we are told so that we can be controlled for the good of society because what we choose to dedicate our lives to is so dangerous. For example, its peer agencies spend about 20 to 32 percent on overhead costs, compared to 37 percent at NRC. As an engineer, I love efficiency. These costs may include initial set-up or mobilization costs. Certainly fossil fuels have external costs to society that are not funded. ��}�/�wc�)�>�H�2;G�(�P2 �RT �J%�Vh�B�b���b�v�P� ㍧�&$ta#��I�RIx�h��«���߯���iX��_��o���������:�_ۃ�I�^�?�4lnn���s��_]ޭo�������pq���3�832-%V#�{�}��Vo6���������z������\�oo�!WW����H2[�)��n���c�.���-?n�>l�7��7���~��_nv�����N=��^����u��[���ju���lx��c��p�d��?�(T�}��ئ܆R�㜧cyI+���R��\�� 1��X�:sQG�K�����v� �^��.��8���������̺���OؾR�NK�ԨS�jzB���Sr�87����WO3x�Ś�K�X��d���������Kh�-�[�h�:���}�Amc��fI7Ɩ��Zg�nnW�-�(�ۢ�`�Zh/u�U�����~8�m͌��s�=,Ŧ�������aM��#O�PyJw��&����N��N��H��m���)$�h�-����C�sm�#�Yt`����ť��O�{X����X����H|f)X:����:: Financial, strategic, and political analyst. Examples of regulatory constraints in a sentence, how to use it. Throwing that topic out during a discussion about nuclear energy capital costs comes straight out of the antinuclear playbook issued by UCS, NRDC, Greenpeace, RMI, and Sierra Club. For example, costs that are in the scope of the inventory guidance or internal-use software guidance will continue to be accounted for under those standards. I think July 29th may have been the last time you provided an update here on that. Compliance costs Administrative burdens Substantive compliance costs; Implementation costs – short-term costs, used to understand the new obligation, developing compliance strategies; Direct labor costs - wage and non-wage (sick leave etc.) For example, the fees for applying for a permit would be a financial cost of regulation. From reading Ted Rockwell’s work over the years, his effort is in keeping and is consistent with the natural world view. I’m just keeping this on the straight stick already known externalities. I “knew” Ted Rockwell was right, but I did not understand why. existing regulatory compliance costs. Major indirect costs include value lost when people cut back purchases in response to regulation-induced price increases, reductions in quality or convenience caused by regulation, and risk/risk tradeoffs. But it is still astonishing that so-called “free market” advocates who diss nuclear for its costs totally blow these things off. Having never spoken to him about this subject that is just an observation. Examples of regulatory constraints in a sentence, how to use it. 107 0 obj <>/Filter/FlateDecode/ID[<4D9990D95B0D958E1099E51201CBB912>]/Index[100 22]/Info 99 0 R/Length 56/Prev 65588/Root 101 0 R/Size 122/Type/XRef/W[1 2 1]>>stream Not bloody likely when you put $$$ on a carbon emission unit. 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