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America’s nuclear industry getting desperate – seeks money from Trump

The U.S. Nuclear Industry’s Last Hope Seeks Help From Trump, Bloomberg , By Ari Natter and Mark Chediak

August 12, 2017,
  • Cost of delayed Georgia nuclear project may be $25 billion
  • Energy Secretary Perry turned down Scana’s bid for bailout

  • President Donald Trump has vowed to revive America’s dying nuclear industry. Backers of a troubled Georgia nuclear project want him to prove it.

    They have asked the administration to come to the aid of a project to build two reactors to the Southern Co.’s Vogtle power plant, according to people familiar with the talks. That could include increasing or speeding up disbursements of $8.3 billion in federal loan guarantees to the companies behind the nuclear plant, the people said. They asked not to be identified discussing ongoing negotiations.

    A Georgia public service regulator was in Washington to make a case for the project, the last nuclear plant under construction in the U.S., and Southern has hosted congressional staff members at the construction site. The company also wants Congress to extend tax breaks for nuclear power….

    With Southern set to tell regulators in Georgia by the end of this month whether it plans to continue with construction plans for the plant, federal support could be crucial. Last week, Southern said it estimated its portion of the cost to complete the reactors was at least $11.5 billion, excluding $1.7 billion in guaranteed payments from Toshiba. Given Southern’s 46 percent stake in the project, that would put the total cost of building the two reactors at $25 billion……

  • After Energy Secretary Rick Perry turned down a request for $3 billion in aid for Scana Corp.’s nuclear plant in South Carolina, it’s not clear how much the federal government will help. Scana abandoned its V.C. Summer nuclear projects last month after it concluded the two reactors would end up costing it more than $20 billion to build.

    In general, the Trump administration has said it’s studying the nuclear issue…..


August 12, 2017 - Posted by | business and costs, politics, USA

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