Tim Gray of the New York Times published an article in the Sunday, 20 November 2005, Times titled “Can Nuclear Power Become Just Another Business?”. (The NY Times is a subscription site, though this article is available for free for 14 days with a simple registration.)
The general premise of the article is that investors are taking a new look at nuclear energy stocks, and it attempts to identify companies that stand to profit by any revival in the industry. The pickings are kind of slim for investors, the recommendations include the typical nuclear generators like Exelon, Entergy, Dominion Resources, and FP&L. For some reason, the author failed to recognize Constellation Energy, Progress Energy, the Southern Company or Duke Energy, all of which seem to be leading contenders for new nuclear power developments.
The article mentions that General Electric is still in the business, but makes it clear that nuclear is a tiny portion of that company’s portfolio. USEC gains a mention as the only American pure play in nuclear energy, while British Energy gets mention as a possible turnaround candidate.
Interesting reading, but more interesting is the fact that it adds credibility to the idea that the nuclear industry is becoming an interesting and rewarding place in which to invest money. The trick is finding the right companies, since many of the biggest players are still government owned companies without any publicly traded stocks.