Officials at MidAmerican Energy Co. are studying potential options now that the Iowa Legislature adjourned without taking action on a bill the utility sought to lay the groundwork for a state regulatory structure that would have moved the company toward its planned construction of a nuclear power plant in Iowa.
“We are evaluating future options, and at this time it’s premature to speak in detail about those plans,” said Tina Potthoff, media relations manager for MidAmerican Energy. She said the company likely will hold internal meetings to decide how to proceed.
The company sought legislation creating a regulatory framework for a small-scale nuclear energy project. Opponents said it would allow MidAmerican Energy to charge ratepayers in advance for new nuclear reactor construction, with the utility to able keep the money even if construction was never completed. Sen. Matt McCoy (D-Des Moines) expects another proposal in 2013 that won’t involve ratepayers assuming the same amount of risk.
In March, the Senate Commerce Committee passed a bill empowering the state to require the utility to complete the plant if its financing and construction receive state regulatory approval. While the nuclear funding bill passed in the senate committee, it never garnered enough support to pass the Senate.
MidAmerican has been exploring a new technology using small modular units, which are cheaper than larger reactors but produce less energy. The utility has projected the cost of building the proposed nuclear facility at between $1 billion and $2 billion.