Economic Considerations
Economic Considerations
It’s difficult to think about, or even begin to tally the economic loss that would result from a serious accident at Seabrook Station. Imagine if miles around the plant had to be permanently evacuated — the loss of property and productivity, the disruption to families and businesses — would be incalculable.
While Seabrook Station is a major contributor to the region’s electric grid and economy, employees about 500 people and pays $20 million in property taxes annually, it’s important to understand that the risk of an accident, however small, is real.
We cannot buy insurance to protect us from loss due to a nuclear accident, and though there is a federal fund known as Price-Anderson
to help pay for property loss, sickness and living expenses for the evacuated — many believe that it is under-funded — at about $12 billion. The assessed property value in Newburyport alone is over $4.3 billion, and there are 23 cities and towns in Seabrook’s 10-mile radius.
Price-Anderson limits individual plant liability to $375 million. Clean-up and compensating victims of the Fukishima disaster in 2011 is estimated at $188 billion.
C-10 will continue to research and write about the economic impact that a serious accident at Seabrook would have on our region. Meantime, here's an interesting perspective
from a former nuclear regulator.
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