Biden Admin To Boost Domestic Nuclear Power Sector

The White House is set to announce today new measures to support the development of new nuclear power plants in the United States.

• Reuters reports: "The suite of actions, which weren't previously reported, are aimed at helping the nuclear power industry combat rising security costs and competition from cheaper plants powered by natural gas, wind and solar."
• The White House said in a fact sheet: "Alongside renewable power sources like wind and solar, a new generation of nuclear reactors is now capturing the attention of a wide range of stakeholders for nuclear energy’s ability to produce clean, reliable energy and meet the needs of a fast-growing economy, driven by President Biden’s Investing in America agenda and manufacturing boom."
• The White House notes that President Biden, "signed a Congressional appropriations package providing $800 million to fund up to two Gen III+ SMR demonstration projects. The implementation of this will be announced later this year. This package also appropriated $100 Million for Gen III+ SMR design, licensing, supplier development, and site preparation."
• Today, the White House is expected to announce a new working group that will identify ways to mitigate cost and schedule overruns in plant construction, with Reuters noting that, "the youngest U.S. nuclear power reactors, at the Vogtle plant in Georgia, were years behind schedule and billions over budget when they entered commercial operation in 2023 and 2024."