Economics of the Great Plains Coal Gasification Project
RCED-83-210: Published: Aug 24, 1983. Publicly Released: Aug 29, 1983.
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In response to a congressional request, GAO addressed several issues concerning the economics of the Great Plains Coal Gasification Project and the Department of Energy (DOE) monitoring of the project.
Five partners had contributed $320 million in equity to the project as of June 30, 1983, and they estimate that they will contribute $517 million through December 1984. The partners could realize an average annual 20-percent return on their investment over the first 20 years of operation, while the profit after tax on equity for the chemical and allied products industries ranged from 11.4 to 16.7 percent. Three benefits could have been realized by borrowing from the Federal Financing Bank (FFB): lower interest rates, flexibility in how much and how often funds are borrowed, and elimination of underwriter fees. The partners do not directly realize tax credits from the project. However, tax benefits are available to the parent companies of the partners making this a potentially attractive investment. During construction, investment tax credits, energy tax credits, and interest deductions are available. No precise cost estimate could be made as to the loss the Federal Government and project sponsors would have sustained if the project had been terminated on June 30, 1983. At a minimum, DOE would have had to pay the amount that the project borrowed from FFB and the partners would have lost the equity that they had contributed. GAO found that the cash-flow projections were reasonable; however, the projections did not consider the impact of taxes on the parent companies. GAO found that DOE monitoring plans and procedures are adequate and that, if certain conditions occur, DOE could withdraw its commitment on additional borrowings.
Dec 10, 2020
Uranium Management:
Actions to Mitigate Risks to Domestic Supply Chain Could Be Better Planned and CoordinatedGAO-21-28: Published: Dec 10, 2020. Publicly Released: Dec 10, 2020.
Dec 8, 2020
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Offshore Wind Energy:
Planned Projects May Lead to Construction of New Vessels in the U.S., but Industry Has Made Few Decisions amid UncertaintiesGAO-21-153: Published: Dec 8, 2020. Publicly Released: Dec 8, 2020.
Nov 19, 2020
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Nuclear Waste Disposal:
Better Planning Needed to Avoid Potential Disruptions at Waste Isolation Pilot PlantGAO-21-48: Published: Nov 19, 2020. Publicly Released: Nov 19, 2020.
Oct 29, 2020
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Nuclear Safety:
DOE and the Safety Board Should Collaborate to Develop a Written Agreement to Enhance OversightGAO-21-141: Published: Oct 29, 2020. Publicly Released: Oct 29, 2020.
Oct 15, 2020
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Nuclear Weapons:
NNSA Plans to Modernize Critical Depleted Uranium Capabilities and Improve Program ManagementGAO-21-16: Published: Oct 15, 2020. Publicly Released: Oct 15, 2020.
Jul 24, 2020
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Nuclear Weapons:
Action Needed to Address the W80-4 Warhead Program's Schedule ConstraintsGAO-20-409: Published: Jul 24, 2020. Publicly Released: Jul 24, 2020.
Jun 24, 2020
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National Nuclear Security Administration:
Analyzing Cost Savings Program Could Result in Wider Use and Additional Contractor EfficienciesGAO-20-451: Published: Jun 24, 2020. Publicly Released: Jun 24, 2020.
Jun 9, 2020
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Nuclear Weapons:
NNSA Needs to Incorporate Additional Management Controls Over Its Microelectronics ActivitiesGAO-20-357: Published: Jun 9, 2020. Publicly Released: Jun 9, 2020.
May 13, 2020
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Environmental Liabilities:
DOE Needs to Better Plan for Post-Cleanup Challenges Facing SitesGAO-20-373: Published: May 13, 2020. Publicly Released: May 13, 2020.
May 12, 2020
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Hanford Waste Treatment Plant:
DOE Is Pursuing Pretreatment Alternatives, but Its Strategy Is Unclear While Costs Continue to RiseGAO-20-363: Published: May 12, 2020. Publicly Released: May 12, 2020.
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