Biden launches $6bn effort to save America’s distressed nuclear plants

theguardian.com:

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.

On Tuesday, 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 second round will be opened up to more economically at-risk facilities. The program was funded through Joe Biden’s $1tn infrastructure deal, which he signed into law in November.

“US 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 strong majority of states – about two-thirds – say nuclear, in one fashion or another, will help take the place of fossil fuels.

A dozen US commercial nuclear power reactors have closed in the past decade before