nuclear-news

U.S. nuclear plants expect government decision on credits by year-end

Reuters 16 Nov 22,

WASHINGTON, Nov 15 (Reuters) – Two companies that have applied for funding to keep struggling nuclear power plants open said they expect to hear from the U.S. Department of Energy by the end of the year.

Both power utility PG&E Corp (PCG.N) and Holtec International applied to the first phase of the $6 billion DOE Civil Nuclear Credit program to keep their reactors running. The Biden administration believes nuclear power is essential to fight climate change, but plants are struggling with costs and competition from natural gas plants and renewables.

PG&E’s Diablo Canyon reactors in California are slated to close in 2024 and 2025 but could stay open if they get the funding………….

The DOE declined to comment on timelines and future recipients of awards. U.S. infrastructure legislation passed in 2021 included funding for the civil nuclear credit program in the United States………………. https://www.reuters.com/business/energy/us-nuclear-plants-expect-government-decision-credits-by-year-end-2022-11-15/

November 16, 2022 - Posted by Christina Macpherson | politics, USA