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US DOE launches $6 billion nuclear power credit programme
- 2 years ago (2022-04-20)
- David Flin
The US Department of Energy (DOE) has opened applications for loans from a $6 billion programme to help nuclear power plants struggling with rising costs as it seeks to stop the generators from shutting down under its goal of transitioning to clean energy.
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The DOE said that the nuclear power industry’s 93 reactors generate over half of the country’s carbon-free electricity. However, 12 reactors have closed since 2013 in the face of increasing competition from renewable energy and natural gas-fired plants.
The DOE said it will take applications from owners of nuclear plants for the first round of funding in its Civil Nuclear Credit Programme until May 19. It will prioritise reactors that have already had announcements of intention to close.
Jennifer Granholm, US Energy Secretary, said that the administration is “using every tool available” to get the country powered by clean energy by 2035, a goal of President Joe Biden’s. “That includes prioritising our existing nuclear fleet to allow for continued emissions-free electricity generation and economic stability for the communities leading this important work.”
PG&E plans to shut its two Diablo Canyon reactors in California in 2024 and 2025. It said that this nuclear credit programme would not cause it to change this plan. Suzanne Hosn, spokesperson for PG&E said: “As a regulated utility, we are required to follow the energy policies of the state. At this time, the state has not changed its position regarding the future of nuclear energy in Canada.”