USA’s Inflation Reduction Act a tidy little bonanza for the nuclear industry

Nuclear Fuel for Advanced Reactors Spurred by Climate Bill Funds

 https://news.bloomberglaw.com/environment-and-energy/nuclear-fuel-for-advanced-reactors-spurred-by-climate-bill-funds DEEP DIVE, Daniel Moore Aug. 29, 2022, 

• Inflation Reduction Act includes $700 million for enrichment
• Energy Department still formulating plan for fuel supply

The Biden administration’s efforts to develop a more energy-dense nuclear fuel got a sudden $700 million windfall in the climate-and-tax bill signed into law this month, a boost for the agency’s plans to demonstrate two next-generation reactors before the end of the decade, energy officials and nuclear supporters said.

The funding—more than 15 times the program’s current annual appropriation—is a down payment for the Energy Department’s efforts to develop fuel supplies for advanced reactors, which are designed to be much smaller than the current fleet of nuclear plants………………..

Energy Secretary Jennifer Granholm told Congress in April the agency was “in final stages” of developing a HALEU strategy, which at that time had just $45 million appropriated by Congress for fiscal year 2022.

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