PORTLAND - Nuclear power is unlikely to expand in the Pacific Northwest any time soon, an analyst who reviewed the costs for the Northwest Power and Conservation Council said Tuesday.

Jim Harding of Harding Consulting in Seattle told the regional council there are a number of factors that would affect investing in nuclear power, which has gained new attention nationally with increasing oil and natural gas prices.

Some include public acceptance of new plants, a learning curve on building new plants with new designs, a shortage of engineers and skilled workers, waste disposal and Wall Street support.

But a key issue may be the supply of uranium.

Although it is still relatively plentiful - there are large supplies in Australia and Canada - it takes a huge investment in time and money to mine it and process it for use in a nuclear plant, he said.

“It will take heroic efforts to find the uranium needed for a major nuclear expansion,” Harding said.

The council is holding hearings this week to update its five-year energy plan, developed in 2004 for Oregon, Idaho, Montana and Washington state.

The council, which oversees regional energy planning, sees a combination of coal, wind, natural gas and conservation as its best bet for meeting increased energy demand through 2024, said John Harrison, council spokesman.

But it also is considering other sources, including geothermal, solar and even nuclear power, Harrison said.

Laughter, however, broke out when Harding pointed out the cheapest way to build a nuclear power plant would be spreading out the cost with a public subsidy - similar to what led to the largest municipal bond default in national history with the collapse of the former Washington Public Power Supply System nuclear project in the 1980s.

Only one plant survived among the five planned for the project. And the only other nuclear plant in the Northwest, the Trojan plant in Oregon, was closed in the 1990s by Portland General Electric after the utility decided it was too costly to repair cracks in steam tubes.

One of the last symbols of nuclear power in the region, the Trojan cooling tower visible from Interstate 5 along the Columbia River, was demolished last May.

A Virginia company, Alternate Energy Holdings Inc., announced plans last December to build a 1,500-megawatt nuclear plant along the Snake River in a remote area of southwestern Idaho. The company was formed last year by former utility and finance executives led by Donald Gillespie, who serves as its president.

Gillespie said Tuesday that Alternate Energy still is awaiting a report by geologists on the suitability of the site, along with Nuclear Regulatory Commission approval of new reactor designs, before moving ahead. The company also is considering whether to take on utilities as partners or to finance the project itself through private investment, but “we're determined,” he said.

Gillespie also said the West cannot expect to rely on coal or alternative sources such as wind to provide all its energy needs.

“I think the West is running into a tough road without much coal capacity being built, and trying to rely almost totally on wind, and maybe solar power, to keep up with growth,” he said.

Harding said any new plant likely will face increasing costs in the initial stages, especially for the cost of nuclear fuel.

He cited estimates on the cost of new plants, ranging from about $1,000 per kilowatt of installed capacity to nearly $2,500 per kilowatt. But studies have shown actual costs tend to be higher overall, he said.