Asianometry A Good Old-Fashioned American Nuclear Energy Debacle
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Sep 7, 2025 In the 1970s, a tiny agency in Washington aimed high, attempting to build five nuclear power plants at once. The ambitious project turned into a financial disaster with the nation's largest municipal bond bankruptcy at the time. The debacle involved mismanagement, ballooning costs, and abandoned facilities. As power demands clashed with environmental concerns, the rise and fall of these nuclear projects revealed the obstacles of nuclear energy development amidst a shifting political landscape.
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From Small Agency To Big Project Owner
- Washington Public Power Supply System (WPPSS) started as a tiny agency created by PUDs to protect hydropower access from federal changes.
- It quickly took on big projects like Packwood Dam and later partnered to build the Hanford steam plant despite having minimal staff.
WPPSS Builds Hanford Steam Plant
- WPPSS stepped in to fund the Hanford steam plant when federal and state actors balked at the civilian power component.
- The N-reactor’s steam plant began operation in April 1966 and briefly made Hanford One the largest civilian nuclear plant in the U.S.
Faulty Demand Assumptions Drove Overbuilding
- Utilities assumed electricity demand would keep growing at 5–7% annually based on historical trends and built capacity accordingly.
- That assumption ignored price elasticity and conservation, which later flattened demand and undermined large-scale builds.
