Nuclear Power
The U.S. Energy Department’s $6 billion nuclear credit program, the pursuit for carbon-free generation to meet climate goals, and technological advancements are reigniting support for nuclear power. The global impact of Russia’s war on Ukraine has also escalated the importance of national security considerations in energy policies including a discussion about the role of nuclear power.
Nuclear power is increasingly viewed as a necessary resource to compensate for the decline in fossil fuel-based electricity in the transition towards a low-carbon future. Recent actions range from the U.S. Energy Department’s launch of a $6 billion program to sustain the existing nuclear fleet to West Virginia’s move to end a ban on nuclear plant construction and efforts to delay the closure of the Diablo Canyon nuclear power plant in California.
Discussion around performance-based regulation (PBR) continues to evolve as utilities and regulators explore a framework aimed at strengthening the connection between utility returns and performance.
Carbon reduction goals are driving policy support to keep financially-struggling nuclear generation plants operating and encourage new reactors. The fuel diversity and zero-carbon attributes of the resource are fueling the policy debate over its role in meeting state and federal energy and environmental goals.
Options to sustain the existing nuclear generation fleet have resurfaced as states reevaluate their resource portfolios to expedite the transition to carbon-free energy. Policy support for the resource emerged as a means to stave off plant closures in the face of economic challenges, by rewarding its fuel diversity and zero-carbon attributes.
Recent progress towards commercializing small modular reactors (SMRs) has sparked interest in the role of advanced nuclear technologies to accomplish decarbonization goals. Twenty states and jurisdictions across the U.S. now have 100 percent clean energy mandates or goals, implying the need for a portfolio of every available carbon-free technology that can be deployed on a timeline compatible with their targets.
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.
Nuclear power is making its way into clean energy policies as more states embark on ambitious emissions reduction plans. The need to build up carbon-free energy resources in the fight against global warming is driving a number of policymakers to put nuclear power on equal footing with renewable resources.
Democratic Governor Ned Lamont announced that Dominion Energy Inc. reached a deal with Connecticut’s two electric utility companies, units of Eversource Energy and Avangrid Inc., to retain the 2,100-megawatt Millstone nuclear facility. The 10-year agreement lowers the incremental ratepayer cost by nearly half compared to the original bid that was accepted last year as part…...
The U.S. added 31.3 gigawatts of generating capacity in 2018, the largest since the 2003 capacity addition of 48.8 gigawatts, according to a March 11 report from the Energy Information Administration. Natural gas accounted for 62 percent of utility-scale additions, while wind and solar photovoltaic represented 21 percent and 16 percent, respectively. Coal accounted for…...
The Georgia Public Service Commission on Feb. 19 announced its approval of $526.4 million in construction expenses incurred by Georgia Power Company in the first half of 2018 for the Vogtle expansion project. The agency said the authorization does not deem the expenditure to be prudent, and is only an acknowledgement that the company has…...
The U.S. Nuclear Regulatory Commission announced a final rule addressing nuclear plant safety to incorporate lessons learned from the 2011 accident at Japan’s Fukushima nuclear plant, according to a Jan. 24 news release. The rule removes the requirement in the final draft presented by the commission staff in 2016 requiring nuclear plants to take additional…...