The capital cost is indeed crucial. But extremely solid power companies with decade-spanning relations with their banks also get really cheap credit. After all, all our nuclear power plants weren't financed by the state and they worked out very well too.

(It doesn't hurt when the people ordering the plant are the same as the ones who own the company that designed it, the company that builds it and the bank that financed it.)

The state carries ultimate responsibility for a lot of things it doesn't own (airlines, pharmaceuticals etc etc).

Long term storage in Sweden is both run and financed (partly) by a private  (not-for-profit) company (which also does some for-profit international consulting).

I have no problem at all with state ownership in power generation, but if private companies can add value while maintaing standards, then I'm the first to welcome then.

I still don't think a deregulated power market is a good idea though, I think it's a disaster.

Peak oil is not an energy crisis. It is a liquid fuel crisis.