(Washington) Joe Biden’s administration is launching a $6 billion project to save nuclear power plants in danger of having to shut down. The government advocates the need to use nuclear as a carbon-free source of energy to fight climate change.
Posted at 9:33 p.m.
A bidding process was launched on Tuesday for the civilian nuclear credit program, which aims to come to the rescue of owners and operators of nuclear reactors in financial difficulties, revealed exclusively to The Associated Press the US Department of Energy shortly before an official announcement was made.
This is the largest US federal investment ever made to financially support nuclear power plants.
Owners or operators of nuclear reactors who plan to cease operations for financial reasons can apply for assistance from this program. The first round of fund allocation will prioritize reactors that have already announced the end of their activities.
A second round of funding will be dedicated to facilities deemed “at risk”.
This program was funded from the trillion-dollar infrastructure plan proposed by President Joe Biden and adopted last November.
“U.S. nuclear power plants produce more than half of our electricity carbon-free, and President Biden is committed to keeping these plants operating to meet our clean energy targets,” the agency said in a statement. Energy Minister Jennifer Granholm.
“We are using every tool available to ensure this country is powered by clean energy by 2035 and that includes prioritizing our existing nuclear fleet,” she added.
A large majority of states, around two-thirds, rely on nuclear power in one way or another to replace the contribution of fossil fuels.
A dozen private nuclear reactors have shut down in the past decade before their licenses expired. The main reasons for these closures are competition from natural gas, which is less expensive, an explosion in operating costs and the exorbitant costs of major repairs.
In the regions concerned, these closures have led to a deterioration of air quality, thousands of paid job losses and a brutal shock to local economies, argued the Ministry of Energy.
A little over a quarter of the nuclear power plant fleet would be threatened with closure. The owners of seven active reactors have already announced their intention to cease operations by 2025.
The majority of US nuclear power plants were built between 1970 and 1990, and the older the facilities, the more expensive they are to maintain in operation.