The Biden administration is launching a $6 billion effort to rescue nuclear power plants at risk of closing
he Biden administration is launching a $6 billion effort to rescue nuclear power plants at risk of closing, citing the need to continueA certification and bidding process opened Tuesday for a civil nuclear credit program that is intended to bail out financially distressed owners or operators of nuclear power reactors, the U.S. Department of Energy told The Associated Press exclusively, shortly before the official announcement.
A strong majority of states — about two-thirds — say nuclear, in one fashion or another, will help take the place of. A dozen U.S. commercial nuclear power reactors have closed in the past decade before their licenses expired, largely due to competition from cheaper natural gas, massive operating losses due to low electricity prices and escalating costs, or the cost of major repairs.
Twenty more reactors faced closure in the last decade before states stepped in to save them, according to the Nuclear Energy Institute, the industry’s trade association. Illinois is spending nearly $700 million to keep three plants open while additional renewable resources come online. If reactors do close before their licenses expire, fossil fuel plants will likely fill the void and emissions will increase, which would be a substantial setback, said Andrew Griffith, acting assistant secretary for nuclear energy at DOE.may be cheaper, nuclear power hasn’t been given credit for its carbon-free contribution to the grid and that has caused nuclear plants to struggle financially, Griffith added.
More recently, airlines received $54 billion in taxpayer money to keep people employed through the pandemic, but they eliminated tens of thousands of jobs anyway by offering incentives for employees to quit or retire early. The Sierra Club has a nuclear free campaign that says nuclear is not a solution to climate change, and “every dollar spent on nuclear is one less dollar spent on truly safe, affordable and renewable energy sources.”
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