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Group of USA Republicans and Democrats united in $trillion Bill to subsidise the nuclear and carbon capture industries

Bipartisan $1 trillion Senate infrastructure bill focuses on nuclear, carbon capture, transmission, Utility Dive  Aug. 3, 2021

Bipartisan $1 trillion Senate infrastructure bill focuses on nuclear, carbon capture, transmission, Utility Dive  Aug. 3, 2021

Catherine Morehouse A bipartisan group of senators on Sunday unveiled its nearly $1 trillion infrastructure bill, formalized into text following a 67-32 consensus to advance the legislation. The vote to advance the bill included the support of 17 Republicans.

The approximately 2,700-page bill would invest billions of dollars in transmission and grid infrastructure, new advanced nuclear plants as well as current nuclear facilities, electric vehicle infrastructure, carbon capture and other clean energy resources.

Ten senators led negotiations on the bill over the weekend, and it remains to be seen whether the legislation has enough support on either side of the aisle to make it to President Joe Biden’s desk. The bill will likely face several rounds of amendments, according to multiple reports…………………

Nuclear, carbon capture a focus

The Senate bill targets two clean [whaa aa t?] energy technologies that currently aren’t an economically viable investment for most utilities: carbon capture and storage and nuclear power. It focuses less on renewables,…..

On nuclear power, the legislative package targets aging power plants as well as yet-to-be-built small modular reactors. It sets aside $6 billion for the Department of Energy to spend on nuclear facilities that are under threat of being shut down due to economic factors. It also sets aside $6 billion in funding for microreactors, small modular reactors and advanced nuclear reactors.

The nuclear industry has struggled economically for decades, and proponents of the fuel believe policy should focus on saving existing plants and financing newer, smaller facilities. 

The chair of the Nuclear Regulatory Commission earlier this year predicted that without congressional assistance, the nuclear industry would go under trying to compete with cheaper resources like wind, solar and natural gas. Three nuclear plants owned by Exelon in Illinois failed to clear the PJM capacity auction in June, following the utility’s announcement earlier that year that the plants might face retirement without economic assistance from the state. Only one nuclear unit has been put into service in the last 30 years, and two units are under construction in Georgia, but the Georgia Vogtle project has run over budget and been delayed for years.

The Senate package is “a welcome step forward,” said John Kotek, senior vice president of policy development and public affairs at the Nuclear Energy Institute, but “additional action must be taken” to retain the existing fleet of nuclear power plants, including through a production tax credit…………. https://www.utilitydive.com/news/bipartisan-1t-senate-proposal-focused-on-nuclear-carbon-capture-transmis/604348/

August 5, 2021 - Posted by | politics, USA

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