Nuclear Power is Clean, Safe, and Reliable… But Can It Be Competitive?

Nuclear Power is Clean, Safe, and Reliable… But Can It Be Competitive?
For over 30 years, U.S. nuclear plants provided clean, safe and reliable electricity. Yet in the past 3 years, twelve reactors have been slated for early retirement and another dozen are at risk. Can nuclear plants be operated competitively in today’s market?
 
An evolving energy market, led by cheap natural gas and subsidized renewable generation, threatens the long-term financial viability of America’s remaining nuclear power plants. Since 2013, utility executives have announced the early retirement of twelve reactors and Wall Street estimates reveal another dozen to be at risk; raising the question: Can nuclear plants be operated competitively in today’s market?

Over the past three decades, the U.S. Nuclear Industry achieved unprecedented levels of safety and reliability; providing almost 20 percent of all domestic electricity and generating 63 percent of America’s carbon-free power. Unlike other clean energy sources, nuclear power is available during all weather conditions, offers price stability, and on-site long-term fuel supplies.

Competition from cheap natural gas and subsidized renewable generation combined with rising operations and maintenance costs stemming from a slew of new regulations and aging equipment challenge the long-term financial viability of nuclear power plants. In its recent news release, Exelon cited a combined loss of $800 million in the past seven years – an average of about $57 million per station per year – as the reason for shuttering its Clinton and Quad Cities nuclear plants.

In an effort to improve the financial viability of the remaining nuclear fleet, industry executives launched the Delivering the Nuclear Promise initiative; challenging employees and vendors to identify innovative ways to improve efficiency, reduce costs, and raise revenues while maintaining operational safety and reliability. Responding to this call, StrategyDriven Enterprises identified 29 near-term cost reduction opportunities potentially saving utilities $10+ million per station in annual operations and maintenance costs.

“Our team of seasoned nuclear executives sought out and adapted contemporary business practices for the nuclear environment,” explains Nathan Ives, StrategyDriven’s Chief Executive Officer. “The result is an initial set of organizational, process, and technology changes that preserve operational safety and reliability while at the same time dramatically reduce costs.”

StrategyDriven’s cost reduction initiatives and identification method are captured in Four Overlooked Controllable Costs that could save nuclear plants from early retirement. The document highlights 29 initiatives to reduce costs in the areas of Human Capital Management, Information Technology, Supply Chain / Inventory Management, and Oversight. StrategyDriven experience reveals many of these cost reductions to be implementable within 180 days and to possess similar payback periods.

U.S. Energy Secretary Ernest Moniz recently indicated that retiring nuclear power plants would make it more difficult for the U.S. to achieve its climate change goals.

“The idea is we are supposed to be adding zero-carbon sources, not subtracting or simply replacing by building to just kind of tread water,” Moniz said at a May symposium the department organized to discuss the industry’s economic prospects. “I think very few understand that nothing else comes close [to nuclear],” he added.

Four Overlooked Controllable Costs is being distributed to StrategyDriven’s clients, including some of the world’s largest nuclear utility operators. The white paper is available at: www.StrategyDriven.com/DNP.

Honoring Our Fallen Patriots

Honoring Our Fallen Patriots
Freedom demands sacrifice. Throughout our history, brave men and women served to secure for us the blessings of liberty; many giving the last full measure of their devotion.
 
We are grateful for the ongoing support our friends, colleagues, business partners, clients, and LinkedIn community members provide our active duty service members, veterans, and their families.

As a Veteran Owned Small Business (VOSB), StrategyDriven remains committed to those who have given so much and asked for so little. For the month of June, StrategyDriven will donate 100 percent of all profits from our Sevian Business Program documents, Business Gold books, and Insights Library subscriptions to the Children of Fallen Patriots Foundation; supporting the families of those who gave their lives defending our freedom.

Please help us spread the work about StrategyDriven’s Memorial Day Gift Program as together we can make a greater difference in the lives of these patriots’ families.

With our gratitude,
Honoring Our Fallen Patriots

Nathan Ives
President and CEO
StrategyDriven Enterprises

Lieutenant, United States Navy
United States Naval Academy Class of 1992

StrategyDriven Enterprises Launches an Online Talent Management Program Forum

StrategyDriven Enterprises launched an online talent management program forum; providing leaders access to decades of first-hand experience in programmatically acquiring, developing, and retaining high-quality employees.
 
StrategyDriven Talent Management ForumStrategyDriven Enterprises, LLC announced the launch of an online Talent Management Forum; providing innovative thought leadership and collaboration opportunities to help executives and managers programmatically drive the acquisition, development, and retention of high-quality employees.

“When highly skilled and knowledgeable people give the full measure of their creativity, intellect, and effort to achieving the organization’s goals, truly remarkable performance results,” explains Nathan Ives, StrategyDriven’s President and Chief Executive Officer. “Thus, talented personnel are the lifeblood of every organization.”

“Implementing StrategyDriven’s recommended talent management practices can help enhance any organization’s ability to attract, develop, and retain top talent,” says Karen Juliano, StrategyDriven’s Editor-in-Chief. “This is achieved through deliberate actions that make employees feel valued and respected, inspired and motivated while at the same time being managed effectively and efficiently.”

Contributed to, by highly experienced business leaders, StrategyDriven’s online Talent Management Forum provides actionable methods and tools executives and managers can use to implement and enhance key components of their talent management program including:

  • Talent Acquisition – identification of near and long-term personnel knowledge, skills, and experiences needed combined with the effective search, vetting, and signing-on of employees whose backgrounds meet these needs
  • Talent Development – enhancement of employee knowledge, skills, and experiences so to prepare a sufficient number of individuals to meet the organization’s near and long-term talent needs as circumstances dictate
  • Talent Retention – creation of a workplace environment that attracts and retains the highly talented individuals needed for the organization’s success while concurrently ensuring the departure of those personnel not contributing sufficient value to the organization

The StrategyDriven Talent Management Forum’s thought leadership documents are being distributed to StrategyDriven’s clients, including some of the world’s most respected companies. These documents are available at: www.StrategyDriven.com/talent-management.

Affordable Business Consulting – Use Your Own Staff

StrategyDriven’s radically different approach to management consulting allows you to use your own staff, not requiring you to use ours, so your people benefit from the project experience and then keep this knowledge within your organization.

 
Ask yourself, when was the last time you paid your first or second year associates $180,000 to $240,000 per year commensurate with your consultants’ $90 to $120 per hour consulting rate for staff personnel? Ever feel like you’re paying for the on-the-job training of your consultants’ staff?
 
From time-to-time, all organizations encounter a need for specialized knowledge, skills, or resources they don’t maintain on staff. When the need is temporary, the engagement of high-quality consultants is a great way to fill these gaps.

But every dollar spent on consultants should go to bettering your company’s bottom line, not building-up your consultants’ businesses or paying for unnecessary overheads.

When you engage StrategyDriven, you provide the staff; enabling knowledge transfer into your organization and dramatically lowering costs in a way that is unmatched by traditional consulting firms.

Combine this with our “only as much as you need” use of our seasoned business leaders, our vast array of fully developed methods and tools, and our elimination of high cost overheads such as bricks and mortar offices and you get superior advisory services at a dramatically lower cost.

But don’t take my word for it, try our services for yourself. When you signup for StrategyDriven’s Self Guided Insights Library, you’ll gain FREE access to hundreds of our how-to business management and leadership documents spanning topics from strategic planning to day-to-day business execution. Created by respected business leaders from around the world, these documents provide you with the real-world tested, immediately implementable advice you need to take your organization to the next level of performance.

Affordable Business Consulting – Low Overheads

StrategyDriven’s radically different approach to management consulting eliminates the bricks and mortar consulting firm offices that sit empty most of the time and then passes that cost savings on to our clients.

 
Ask yourself, when was the last time your consultants’ downtown office building bring ground-breaking insight to your business? When was the last time you even visited your consultants’ offices? Don’t they normally come to you?
 
From time-to-time, all organizations encounter a need for specialized knowledge, skills, or resources they don’t maintain on staff. When the need is temporary, the engagement of high-quality consultants is a great way to fill these gaps. But every dollar spent on consultants should go to bettering your company’s bottom line, not building-up your consultants’ businesses or paying for unnecessary overheads.

At StrategyDriven, we’ve streamlined our operations; employing modern communications technologies and eliminating bricks and mortar offices that in-turn reduces our overheads and provides tremendous cost savings to you.

Combine this with our “only as much as you need” use of our seasoned business leaders, our use of your staff, and our vast array of fully developed methods and tools and you get superior advisory services at a dramatically lower cost.

But don’t take my word for it, try our services for yourself. When you signup for StrategyDriven’s Self Guided Insights Library, you’ll gain FREE access to hundreds of our how-to business management and leadership documents spanning topics from strategic planning to day-to-day business execution. Created by respected business leaders from around the world, these documents provide you with the real-world tested, immediately implementable advice you need to take your organization to the next level of performance.