Fed Financing $18.5 billion NextGen Nukes

Front page story in the WSJ on the nascent revival of nuclear power in the USA.

“Four power companies are expected to split $18.5 billion in federal financing to build the next generation of nuclear reactors — the biggest step in three decades to revive the U.S. nuclear industry and one that could vault the utilities ahead of some of the sector’s strongest players.

UniStar Nuclear Energy, NRG Energy Inc., Scana Corp and Southern Co. are expected to share a set of loan guarantees to be awarded by the Energy Department. The guarantees would enable the companies to start building the reactors as early as 2011, with the plants likely to come online by 2015 or 2016 . . .

Seventeen companies applied for $122 billion of federal loan guarantees for 21 proposed reactors . . .

Expanding the use of nuclear power has the potential to make a significant dent in emissions of carbon dioxide, the most commonly produced greenhouse gas. And Energy Secretary Stephen Chu has made nuclear power an agency priority.”

Fascinating development . . .


Originally published at The Big Picture and reproduced here with the author’s permission.