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Time for rigourous scrutiny of nuclear loan guarantee program

The nuclear industry successfully pushed to put reimbursement for private investors ahead of taxpayers in the event of a bankruptcy or liquidation….

“We should subject the nuclear loan-guarantee program to the same level of rigorous scrutiny as we are now insisting the solar loan-guarantee program undergo,” 

Markey Calls for Scrutiny of Nuclear-Power Loan Guarantees, Bloomberg By Brian Wingfield – Sep 23, 2011 Congress should examine whether the U.S. nuclear industry pressed lawmakers and the Energy Department to alter loan-guarantee requirements for reactors, Representative Edward Markey said.

“I urge you to commence hearings into the implementation of the nuclear power plant loan-guarantee program,” including an $8.3 billion award to a subsidiary of Atlanta-based Southern Co. (SO), Markey said today in a letter to House Energy and Commerce Committee ChairmanFred Upton, a Michigan Republican.

The nuclear industry successfully pushed to put reimbursement for private investors ahead of taxpayers in the event of a bankruptcy or liquidation, said Markey, a Massachusetts Democrat. The Energy Department agreed in 2009, he said…..

“We should subject the nuclear loan-guarantee program to the same level of rigorous scrutiny as we are now insisting the solar loan-guarantee program undergo,” Markey said in a statement…. http://www.bloomberg.com/news/2011-09-23/markey-calls-for-scrutiny-of-nuclear-power-loan-guarantees-1-.html

September 24, 2011 - Posted by Christina Macpherson | business and costs, USA