USA Nuclear lobby demands $100 billion in EXTRA funding from govt
The nuclear trade group has called for $100 billion in additional loan guarantees for low carbon energy sources to help support replacing aging reactors
U.S. Loans to Boost Nuclear Industry Seen Soon abc News By Ayesha Rascoe December 28, 2009
WASHINGTON (Reuters) – The Obama administration is poised to announce loan guarantees to help kick-start the country’s nuclear power industry, which hasn’t built a new plant in more than three decades.
Congress authorized $18.5 billion for nuclear loan guarantees in 2005, hoping to revive development of the carbon-free source of energy. Investments in nuclear power has dried up on soaring costs following the 1979 accident at Three Mile Island.
But earlier this year, the U.S. Energy Department signaled it was keen to aid the industry and narrowed the list of those likely to receive loan guarantees to four: Southern Co, Constellation Energy, NRG Energy and SCANA Corp.
“When DOE issues their first loan guarantee, that’s going to send an important signal to private-sector financing, and Wall Street in particular,” said John Keeley, a spokesman for the Nuclear Energy Institute……………
Energy Department officials would not give a specific date on when the details will be announced but said they were committed to restarting the nuclear industry……….
Even after receiving a guarantee, the companies would still have to complete the licensing process and secure private financing before construction begins…………….
The nuclear trade group has called for $100 billion in additional loan guarantees for low carbon energy sources to help support replacing aging reactors and to help reduce greenhouse gas emissions.
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