United States, nuclear power relies on the DoE

In the U.S., two companies are seeking funding to maintain ailing nuclear plants.

Partagez:

In the U.S., two companies are seeking funding to maintain ailing nuclear plants.

Applications for funding

In the U.S., both companies are awaiting word from the U.S. Department of Energy (DoE) by the end of the year. PG&E Corp and Holtec International are applying for the first phase of the civil nuclear credit program. The DoE’s funding capacity is $6 billion.

In the United States, the Biden administration believes that nuclear power is essential to fighting climate change. However, the plants are struggling with costs and competition from natural gas plants. PG&E’s Diablo Canyon reactors in California are scheduled to close in 2024 and 2025.

A uranium deficit

However, if the U.S. DoE provides the funding, the reactors would remain open. As such, the electric utility PG&E expects a final decision by the end of the year. In addition, the company says it is applying to the Nuclear Regulatory Commission for a license to allow Diablo to continue operating.

In addition, PG&E is also ordering more uranium for the reactor. In addition, the company also purchases drums for the storage of nuclear waste. The company says there have been constraints on access to uranium since the Russian-Ukrainian conflict began.

An expected decision

Holtec purchased the Palisades nuclear power plant in Michigan in May to dismantle the facility. The company says that if it were to obtain funding in the United States, it could reactivate Palisades. Thus, the nuclear power plant would be operational until a next generation of small modular reactors.

Palisades is out of nuclear fuel. In addition, the nuclear power plant has to solve some technical problems. Thus, the plant may need a new company to operate it and a buyer for the electricity it generates.

  • Populaires ​
Global microgrid market to reach 191 billion dollars by 2033
Wood Mackenzie forecasts $1.35 trillion for CCUS and carbon credits markets
Ignis Energy secures $13.6mn to accelerate global geothermal projects
France Officially Launches Its First Floating Wind Farm in the Mediterranean
Brno rejects EDF lawsuit over Czech nuclear contract
World Bank resumes nuclear financing after decades of absence
After several decades without funding nuclear projects, the World Bank has formed a strategic partnership with the IAEA to provide technical and financial support to countries integrating nuclear energy into their energy strategies.
Seoul approves definitive decommissioning of South Korea’s first nuclear reactor
South Korea's Nuclear Safety and Security Commission officially validates the decommissioning of reactor number one at the Kori plant, initiating an unprecedented project for the national industry scheduled to last until 2037.
EnCore Energy raises uranium output and hails Texas nuclear reforms
Uranium producer enCore Energy surpasses three thousand pounds per day at its Alta Mesa ISR complex and sees three new Texas laws as a strong signal for faster nuclear production permits.
IAEA Confirms Concerns About Iranian Enriched Uranium Stockpile
The International Atomic Energy Agency expresses concerns over Iran’s enriched uranium stockpiles following the abrupt suspension of inspections at key sites disrupted by recent attacks whose consequences remain uncertain.
India: NPCIL extends deadline to September 30 for BSR reactor proposals
NPCIL has announced an extension until September 30 for industrial proposals concerning Bharat Small Reactors (BSR), following increased interest from the Indian private sector.
EDF anticipates immediate reduction in nuclear output amid heatwave
Facing rising temperatures, EDF anticipates cuts in nuclear production starting early July, primarily due to thermal constraints on rivers used for cooling the power plants.
Fortum selects Westinghouse to study an AP1000 reactor in Finland
The preliminary agreement launches planning and site assessment for a tailored AP1000 reactor, following two years of feasibility study, and enlists Westinghouse and Hyundai to support Fortum’s regional nuclear expansion.
United States: Unprecedented firing of nuclear regulator sparks intense controversy
Donald Trump's unprecedented decision to dismiss Christopher Hanson, a member of the NRC, provokes outrage among former federal officials and raises concerns over the regulatory independence of the U.S. nuclear sector.
Uranium Energy Corp acquires 170 million shares of Anfield Energy Inc.
Uranium Energy Corp strengthens its position in Anfield Energy Inc., now holding approximately 32.4% of the company’s shares following an investment of CAD19.55mn ($14.82mn), significantly expanding its strategic influence in the uranium market.
New York launches major nuclear project to secure its energy supply
New York State plans an advanced nuclear power plant with a 1-gigawatt capacity to meet long-term energy and economic goals, involving significant investment to enhance regional energy independence.
Orano challenges Niger’s decision to nationalize mining company SOMAÏR
Niger announces its intention to nationalize SOMAÏR, a mining company jointly owned with Orano, provoking strong opposition from the French company and paving the way for further international legal tensions.
Russia and Mali Sign Trade Agreements and Target Nuclear Energy
Russia strengthens its economic presence in Mali with new agreements, notably in nuclear energy and gold refining, consolidating strategic cooperation within a rapidly evolving geopolitical context.
United States releases additional $100 mn to restart Palisades Nuclear Plant
The US government grants a fourth payment of $100.45 mn to Holtec International to restart the Palisades Nuclear Plant, pending regulatory approval, marking an unprecedented event in the United States.
EDF secures £4.5 billion from Apollo to finance Hinkley Point C
EDF announces a major agreement with Apollo to raise up to £4.5 billion via bonds to finance the British nuclear project Hinkley Point C, whose costs continue to rise significantly.
France: Anne-Isabelle Étienvre Proposed by Élysée to Head the CEA
The Élysée proposes Anne-Isabelle Étienvre, current Director of Fundamental Research at the CEA, as General Administrator to replace François Jacq, recently appointed President of CNES.
Greece Considers Modular Reactors to Decarbonize its Maritime Industry
Greek Prime Minister Kyriakos Mitsotakis has announced his country's interest in small modular nuclear reactors to meet national energy challenges and decarbonize the maritime sector within the next fifteen years.
TerraPower raises $650 million with NVIDIA for modular reactors
TerraPower, an American nuclear company, secures $650 million funding from investors, including NVIDIA, to develop its Natrium modular reactors in the United States and internationally.
EDF and the French State Agree on €70 Billion Plan for EPR2
EDF and the French state finalize a €70 billion financing plan for six EPR2 nuclear reactors, including a specific territorial coordination framework in Gravelines led by Michel Marbaix, awaiting European approval by 2026.
Newcleo and Nextchem launch joint venture focused on modular nuclear reactors
Maire S.p.A and Newcleo form strategic partnership to industrialise the development of 200 MW modular nuclear power plants, via a joint venture majority-owned by Nextchem.
Four European organisations join forces to develop innovative nuclear reactor
A new European consortium launches the design of a small lead-cooled modular reactor, targeting global commercialisation by 2039, with a demonstration scheduled as early as 2035.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS