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Nuclear pork cash starts rolling out

Southern Co. Said to Be First in Line for Nuclear Aid

By Daniel Whitten

Dec. 16 (Bloomberg) — Southern Co. is in line to win tentative approval for a federal loan guarantee financing a nuclear power plant as the government moves to revive U.S. reactor construction stalled for 30 years,….……..No new nuclear plants have been licensed in the U.S. since the 1979 accident at the Three Mile Island reactor in Pennsylvania. The Energy Department has authority to dole out $18.5 billion in loan guarantees and has put Southern, Constellation Energy Group Inc., NRG Energy Inc. and Scana Corp. on a short list for financing. Department officials have said they hope to make the first award this month…………Congress established the loan-guarantee program in 2005 as a way to spur development of nuclear plants……………….Vice President Joe Biden said in a report yesterday that the administration will provide loan guarantees to two companies for construction of three to four new nuclear reactors “by the end of our first two years in office.”

Southern Co. Said to Be First in Line for Nuclear Aid (Update1) – Bloomberg.com

December 17, 2009 - Posted by Christina Macpherson | politics, USA | antinuclear, nuclear costs