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| -Signs, Portents, and the Weather- |
| Biden launches $6B effort to save distressed nuclear plants |
| 2022-04-20 |
| [FoxNews] 'U.S. nuclear power plants contribute more than half of our carbon-free electricity' The Biden administration is launching a $6 billion 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. A certification and bidding process opened Tuesday for a civil nuclear credit program that is intended to bail out financially distressed owners or operators of nuclear power reactors, the U.S. Department of Energy 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 second round will be opened up to more economically at-risk facilities. The program was funded through President Joe Biden’s $1 trillion infrastructure deal, which he signed into law in November. "U.S. nuclear power plants contribute more than half of our carbon-free electricity, and President Biden is committed to keeping these plants active to reach our clean energy goals," Energy Secretary Jennifer Granholm said in a statement. "We’re using every tool available to get this country powered by clean energy by 2035, and that includes prioritizing our existing nuclear fleet to allow for continued emissions-free electricity generation and economic stability for the communities leading this important work." A dozen U.S. commercial nuclear power reactors have closed in the past decade before their licenses expired, largely due to competition from cheaper natural gas, massive operating losses due to low electricity prices and escalating costs, or the cost of major repairs. This has led to a rise in emissions in those regions, poorer air quality and the loss of thousands of high-paying jobs, dealing an economic blow to local communities, according to the DOE. A quarter or more of the fleet is at risk, the DOE added. The owners of seven currently operating reactors have already announced plans to retire them through 2025. Most U.S. nuclear plants were built between 1970 and 1990 and it’s costing more to operate an aging fleet. The only nuclear plant under construction in the United States is in Georgia. Costs have ballooned and another delay was announced in February. The shuttered reactors include Indian Point Energy Center in New York, Pilgrim Nuclear Power Station in Massachusetts, Fort Calhoun Nuclear Generating Station in Nebraska and Duane Arnold Energy Center in Iowa. Entergy cited low natural gas prices and increased operating costs as key factors in its decision to close Indian Point last year. New York officials sought the shutdown, saying the plant 24 miles (39 kilometers) north of Manhattan posed too great a risk to millions of people who live and work nearby. Twenty more reactors faced closure in the last decade before states stepped in to save them, according to the Nuclear Energy Institute, the industry’s trade association. Illinois is spending nearly $700 million to keep three plants open while additional renewable resources come online. Low electricity prices are the main cause of this trend, though federal and state policies to boost wind and solar have contributed as well, the NEI added. There are 55 commercial nuclear power plants with 93 nuclear reactors in 28 U.S. states. Nuclear power already provides about 20% of electricity in the U.S., or about half the nation’s carbon-free energy. If reactors do close before their licenses expire, fossil fuel plants will likely fill the void and emissions will increase, which would be a substantial setback, said Andrew Griffith, acting assistant secretary for nuclear energy at DOE. While natural gas may be cheaper, nuclear power hasn’t been given credit for its carbon-free contribution to the grid and that has caused nuclear plants to struggle financially, Griffith added. The bailout for the nuclear industry is reminiscent of assistance the auto and airline industries received after the 2008 economic collapse and the coronavirus pandemic, respectively. Related: Infrastructure deal: 2021-07-22 Senate Democrats lose vote to advance bipartisan infrastructure deal Biden wants Infrastructure deal: 2021-06-26 Biden whispers repeatedly during 'really creepy' Q&A Infrastructure deal: 2021-04-27 First Biden t-shirts, now Kamala Harris children's books handed out to border surgers |
| Posted by:Skidmark |
| #3 We have a school bond vote coming up; AFAICT it’s to pay for what the last two bonds were supposed to have been for before the money was ‘redirected’ but all they say is we have to pass it “for the children.” |
| Posted by: Glenmore 2022-04-20 10:41 |
| #2 My guess is the money never makes it to where they say it is needed. |
| Posted by: Besoeker 2022-04-20 06:14 |
| #1 Every week , spend, spend. This is crazy thinking. |
| Posted by: Dale 2022-04-20 04:07 |