The Biden administration announced a $6 Billion credit program to help defray rising operating costs associated with nuclear power generation. Ninety-three reactors generate more than half of the nation’s green energy and about 20 percent of the nation’s total electricity. The nuclear industry has seen operating costs soar due to increased safety regulations driven in part by the Fukushima disaster and the 911 attacks. These additional operating costs and increased competition from cheaper natural gas and wind generators lead electrical generators to close plants. Twelve reactors have closed since 2013. This reduction in non-carbon electrical generation capacity comes at a time when the western world struggles with how to wean itself from Russian oil.
The $6 billion funding program is intended to target plants that have already announced a decision to decommission. The Civil Nuclear Credit Program funds will be distributed gradually, with $1.2B in appropriations planned over the next four years. The remaining $4.8B of allocations will expire by 2035. The DOE will accept the first round of applications through May 19. Officials said in February they hope the program can begin to help one or more plants this year.
Reuters contributed to this article.
Bio: Dave Pulver is a retired communications engineer of 35 years. His interests include technology, history, civics, and politics.
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