Poor outlook for Joe Biden’s $6 billion effort to keep old nuclear reactors going

Biden’s $6B nuclear plan hits ’24th hour’ roadblock

By Peter Behr, Hannah Northey | 04/28/2022  The Biden administration’s $6 billion effort to keep struggling nuclear plants operating is facing a barrier in Michigan and California.

A top energy executive yesterday confirmed that one of the first plants poised to qualify for financial support under the Energy Department’s newly unveiled lifeline — Michigan’s Palisades plant — remains on schedule to close May 31, throwing the Midwestern state’s climate goals into question.

Leo Denault, CEO of Entergy Corp., owner of the Palisades plant, told security analysts yesterday that a buyer who succeeded in acquiring the generator would also bear refueling costs and other expenses.

“We will work with any qualified party,” he said. But he added, “I do want to be very clear. Entergy is exiting the merchant nuclear business. The plant will have to stop operating in May. We’ll be out of fuel.”………………….

Pacific Gas and Electric Co., the Diablo Canyon owner, has also said the DOE offer does not change its intention to close the California facility. Diablo Canyon’s reactors 1 and 2 have planned closing dates of November 2024 and August 2025, respectively……….

A spokesperson for DOE said yesterday they were unable to speak about the unique challenges and closure decisions facing various nuclear plants, nor could they provide a precise number of struggling plants potentially eligible for financial assistance……………………………    https://www.eenews.net/articles/bidens-6b-nuclear-plan-hits-24th-hour-roadblock/

April 30, 2022 - Posted by Christina Macpherson | business and costs, politics, USA