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Loan Guarantees

New reactor construction is so expensive and unpredictable that no U.S. utility is willing to take the risk without the backing of federal loan guarantees, potentially in the hundreds of billions of dollars. Beyond Nuclear and others fight to prevent the mature nuclear industry from seizing any such subsidies which are better spent on true climate solutions such as renewable energy and energy efficiency programs.

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Entries by admin (114)

Thursday
Dec242009

Harvey Wasserman celebrates "A quiet but HUGE no nukes triumph"

Harvey Wasserman's latest essay lists recent setbacks plaguing the nuclear "renaissance," and urges continued grassroots vigilance against taxpayer-backed loan guarantees for new atomic reactors. See numerous additional Wasserman anti-nuke blogs down the righthand side of his freepress.org homepage, and visit the nukefree.org website Harvey edits.

Wednesday
Dec022009

Beyond Nuclear joins coalition letter to Energy Dept. urging no "conditional loan guarantee" for risky French EPRs

Beyond Nuclear, as a member of the Chesapeake Safe Energy Coalition, has joined with groups in multiple states targeted for new Areva "Evolutionary Power Reactors" in a letter urging Energy Department officials to not grant rushed loan guarantees to this financially risky French reactor design with documented safety flaws.

Friday
Nov272009

Nuclear lobby pushes for “permanent financing platform,” at taxpayer risk and expense

While President Obama and other leading Democrats went “wooing” wavering Senators on both sides of the aisle with more nuclear power incentives for the administration’s Climate and Energy Bill, the Nuclear Energy Institute released its own "Nuclear Policy Incentive" to Capitol Hill. NEI broadly outlined a plan on how to build 45 new reactors in the US by 2030. It aims to support a climate bill that includes a “permanent financing platform” under the Clean Energy Deployment Administration to start with more than an additional $100 billion in direct federal loans, loan guarantees and other credit support for new reactor construction; to provide tax incentives to steeply ramp up large nuclear power component manufacturing and production facilities; to further streamline the federal licensing process and; to provide financial incentives for the development of “voluntary interim storage facilities for used nuclear fuel” (also known as “radioactive waste parking lot dumps”).

Thus, the nuclear industry is essentially looking to hook up an umbilical attachment to the US taxpayer for limitless federal money necessary to build financially risky new reactors. Given the teetering global economy and the colossal cost of new nukes, this would once again tip the playing field and competitive markets against renewable energy and drain the life blood out from the real answers to global climate change. NEI seeks to further strip public interest groups of their due process to challenge new reactor construction on public health and safety and environmental issues and bribe economically hard hit communities to take timelessly toxic nuclear waste.

Contact President Obama, your two U.S. Senators, and your U.S. Representative. Tell them that a permanent infusion of massive amounts of federal taxpayer dollars into dangerous and financially risky nuclear power in the climate bill jeopardizes real solutions to addressing climate change through renewable energy, energy efficiency and conservation. 

Friday
Nov272009

Nuke subsidies: "All risk, no reward, for taxpayers and ratepayers"

A new report, "ALL RISK, NO REWARD, FOR TAXPAYERS AND RATEPAYERS: THE ECONOMICS OF SUBSIDIZING THE 'NUCLEAR RENAISSANCE' WITH LOAN GUARANTEES AND CONSTRUCTION WORK IN PROGRESS," by Mark Cooper, Senior Fellow for Economic Analysis at the Institute for Energy and the Environment of the Vermont Law School, shows that the American public could face trillions of dollars of financial risk and added costs if a new generation of atomic reactors is built in the U.S.

Wednesday
Sep022009

Environmental coalition urges DOE to extend public comment period on nuke loan guarantee rule change

Seven national environmental groups wrote the U.S. Dept. of Energy on August 20th. They urged that DOE's period for public comments, regarding the highly technical and high stakes changes to its regulations governing nuclear power loan guarantees, be extended from 30 to 90 days. This would better allow adequate time for concerned taxpayers to submit carefully considered comments, thus boosting the transparency of the process.