Multiple nuclear giveaways backfire

burning money

An E&E article, “No takers for Biden’s nuclear bailout,” reports “[a] Department of Energy attempt last year to bail out struggling or recently shuttered nuclear plants failed to land a single qualified taker…DOE planned to announce the results of the 2023 bailout attempt by January 1, 2024, according to DOE’s March guidance for the second cycle of the program. No public announcement has been made.”

DOE’s tentative 2022 offer of $1.1 billion in Civil Nuclear Credits, to Diablo Canyon, CA, is still in “active discussions” with owner PG&E. DOE rejected Holtec’s $2 billion request, to restart Palisades in MI. Holtec’s Plan B is a billion dollar “bridge” loan guarantee, risking taxpayers being left holding the bag.

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