The Biden administration is launching a $6 billion effort to rescue nuclear power plants at risk of closing 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.
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.
A sign warning of radioactive materials is seen on a fence around a nuclear reactor containment building on April 26, 2021, a few days before it stopped generating electricity at Indian Point Energy Center in Buchanan, N.Y. 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.
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. More recently, airlines received $54 billion in taxpayer money to keep people employed through the pandemic, but they eliminated tens of thousands of jobs anyway by offering incentives for employees to quit or retire early.
The Sierra Club has a nuclear free campaign that says nuclear is not a solution to climate change, and"every dollar spent on nuclear is one less dollar spent on truly safe, affordable and renewable energy sources."
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden launches $6 billion effort to save distressed nuclear plantsThe 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.
Read more »
Biden administration launches $6 billion nuclear plant bailoutThe Biden administration moved Tuesday to revive America’s troubled nuclear power industry with $6 billion in spending aimed at keeping open financially strapped plants.
Read more »
ADOT management of state vehicle fleet saves taxpayers $6 million | ADOT
Read more »
Man notifies store owner of gas price mix-up after filling tank for under $6A Tennessee man pumped over 12 gallons of gas, but was only charged $5.64 for it.
Read more »
Houston spent $6.3M in overtime last year, yet trash trucks are always behind schedule. Here's why.Houston spent $6.3M in waste management overtime last year, yet its trash and recycling trucks are always behind schedule. Here's why.
Read more »
Biden to require US-made steel, iron for infrastructureThe Biden administration is taking a key step toward ensuring that federal dollars will support U.S. manufacturing — issuing requirements for how projects funded by the $1 trillion bipartisan…
Read more »