EnerKnol’s Visual Primer – Ohio Nuclear Bailout Scandal Stirs Up Questions Over Ratepayer Subsidies for Aging Power Plants

The debate over ratepayer subsidies for struggling nuclear power plants has resurfaced, following a racketeering investigation related to a controversial Ohio law, which created a $1 billion bailout for FirstEnergy Corp. last year. The economic troubles of the embroiled industry come to the fore even as states such as New Jersey and Illinois evaluate plans to opt out of the regional capacity market in response to reforms that expanded the minimum offer price rule to subsidized resources.

U.S. Development Bank Ends Ban on Financing Nuclear Power Projects

The U.S. International Development Finance Corporation updated its nuclear energy policy to end a ban on financing nuclear projects, according to a July 23 news release. The agency said that the policy change recognizes the energy needs of developing nations, as well as novel technologies such as modular reactors and microreactors that could be impactful…...

Court Approves Santee Cooper’s $520 Million Ratepayer Settlement Over Failed Nuclear Project

The South Carolina Court of Common Pleas Thirteenth Judicial Circuit on July 21 approved a $520 million settlement to refund customers of state-owned Santee Cooper for costs incurred toward the construction of the abandoned VC Summer nuclear power project. The deal includes a four-year rate freeze by the utility, constituting an additional $510 million benefit…...

U.S. Summer Electricity Demand Projected to Hit Decade Low: EIA

U.S. summer electricity demand, from June through August, is expected to total 998 billion kilowatthours, a 5 percent drop compared to 2019 and the lowest value since 2009, according to a June 10 report from the U.S. Energy Information Administration. Retail electricity sales in the commercial and industrial sectors are expected to decline 12 percent…...

U.S. Energy Department Launches $230 Million Initiative to Support Advanced Nuclear Reactors

The U.S. Energy Department on May 14 announced the launch of the Advanced Reactor Demonstration Program, which will provide $160 million initial funding for two reactors to be operational in the next five to seven years. The program will establish cost-shared partnerships  with U.S. industry to expedite the demonstration of advanced nuclear reactors. The funding…...

U.S. Energy Department Unveils Strategy to Restore Nuclear Energy Leadership

The U.S. Energy Department on April 23 released a report by the Nuclear Fuel Working Group, which outlines a strategy for the U.S. to regain its global leadership in nuclear energy and technology. The report recommends potential actions to enhance the positive attributes of nuclear power, restore the viability of the nuclear-fuel cycle, strengthen U.S…....

U.S. Senators Introduce Bipartisan Bill to Advance Innovative Energy Technologies

Senators Lisa Murkowski, a Republican representing Alaska, and Joe Manchin, a Democrat representing West Virginia, unveiled a bipartisan legislative package on Feb. 27 that compiles more than 50 energy-related measures reported by the Energy and Natural Resources Committee last year. The comprehensive bill supports innovative energy technologies covering a range of topics including energy efficiency,…

EnerKnol’s Visual Primer – New Jersey Pursues Bold Strategies to Advance Decarbonization

New Jersey is making strides to accelerate the transition to a clean energy economy. Among recent actions, the state released a comprehensive plan for economy-wide decarbonization, enacted a law to boost electric vehicle use targeting 2 million EVs on the road by 2035, and doubled the offshore wind power goal to 7.5 gigawatts by 2035.

U.S. Electricity Generation From Renewables to Surpass Natural Gas in 2045: EIA Annual Energy Outlook

U.S. electricity generation from renewable sources such as wind and solar are projected to surpass nuclear and coal by 2021 and to surpass natural gas in 2045, according to the U.S. Energy Information Administration’s Annual Energy Outlook 2020. The share of U.S. electricity generation from renewable sources is projected to double, accounting for 38 percent…

New Jersey Unveils Energy Master Plan for 100 Percent Clean Energy by 2050

Democratic Governor Phil Murphy on Jan. 27 released a comprehensive plan, outlining strategies to reach the administration’s goal of 100 percent clean energy by 2050 and achieve the target of 80 percent emissions reduction from 2006 levels set by the Global Warming Response Act enacted last year. To support the strategies, Murphy signed an executive…

California Bill Seeks to Add Nuclear Power to Renewable Portfolio Standard

Republican lawmakers introduced legislation on Jan. 16 that would allow all hydroelectric generating facilities in operation as of Jan. 1, 2021, and nuclear power plants to qualify for California’s Renewable Portfolio Standard program. The legislation would also suspend the renewable power mandates, and direct the savings from the temporary pause to investor-owned utilities’ infrastructure investments to…

Solar, Wind Represent 76 Percent of New Electric Generating Capacity in 2020: EIA

About 42 gigawatts of new power generating capacity is expected to come online in 2020, with solar and wind accounting for almost 32 gigawatts of the capacity, according to a Jan. 14 report from the U.S. Energy Information Administration. Wind represents the largest share at 44 percent, followed by solar at 32 percent and natural…