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The News That Matters about the Nuclear Industry

Rick Perry’s push to promote America’s coal and nuclear inudustries

Rick Perry proposes sweeping new steps to support coal and nuclear plants, WP,  September 29 2017, Energy Secretary Rick Perry took sweeping steps on Friday to buttress a pair of financially-strapped nuclear plants under construction and redefine how coal and nuclear plants are compensated for the electricity they provide — a move that, if agreed to by independent federal energy regulators, could tilt some of the nation’s complex power markets away from renewables and natural gas.

Perry announced the Energy Department would provide $3.7 billion in loan guarantees to three Georgia utilities struggling to complete a pair of nuclear reactors at the Alvin W. Vogtle generating plant. These loan guarantees come on top of $8.3 billion in loans the department has already given to the project, but they still might fall short of what will be required to complete the costly reactors.

The nuclear project has been running far over-budget and behind schedule, and the utilities have been scrambling to come up with financing after the main engineering company, Westinghouse, declared bankruptcy earlier this year.

The nuclear industry has urged the federal government to help, saying the AP1000 reactors are part of a new generation of nuclear plants. “I believe the future of nuclear energy in the United States is bright and look forward to expanding American leadership in innovative nuclear technologies,” Perry said……… https://www.washingtonpost.com/news/energy-environment/wp/2017/09/29/rick-perry-proposes-sweeping-new-moves-to-support-coal-and-nuclear-plants/?utm_term=.030c3d11ad8a

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September 30, 2017 - Posted by | politics, USA

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