Moody's warns of nukes downgrade due to climate risks

According to a new report from Moody’s Investors Service, dozens of US nuclear power plants “will face growing credit risks” due to their physical vulnerability to the ever-worsening extremes of climate change. Flooding, hurricanes, severe heat and water shortages are cited as impacting nuclear plant owners’ credit rating unless they find effective mitigating solutions.

All the leading financial services had already warned nuclear owners at the dawn of the never realized Nuclear Renaissance that new construction would cause a credit downgrade. Only four new reactors ever went forward, with two now canceled before completion. Almost half the US reactor fleet was identified in the August 18 Moody’s report as being at financial risk due to the climate crisis.