Biden Launches $6B Effort to Save America's Distressed Nuclear Plants
A strong majority of states — about two-thirds — say nuclear, in one fashion or another, will help take the place of fossil fuels.
Edited by Margo Ellis
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According to the Associated Press, the Biden administration is launching a $6bn effort to rescue nuclear power plants at risk of closing, citing the need to continue nuclear energy as a carbon-free source of power that helps to combat climate change. More information from the Department of Energy can be found here.
A certification and bidding process opened for a civil nuclear credit program that is intended to bail out financially distressed owners or operators of nuclear power reactors, the US energy department told the Associated Press exclusively, shortly before the official announcement. It’s the largest federal investment in saving financially distressed nuclear reactors.
Owners or operators of nuclear power reactors that are expected to shut down for economic reasons can apply for funding to avoid closing prematurely. The first round of awards will prioritize reactors that have already announced plans to close. The full AP story is here.
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