Implementation of the Energy Act of 2005 Nuclear energy policy of the United States

locations of new reactor cores , nuclear plants

the implementation of funding, loan guarantees, , more advanced research sole responsibly of doe. in 2008, doe began accepting applications utility companies funding of construction promised in 2005 legislation. originally, loan guarantees totaled $18.5 billion nuclear power plants, , 2 billion on uranium enriched plants. provide funding nuclear companies, proposed plants first need approved nrc initial construction.

currently, there 26 known applications 17 different utility companies (18 before duke power , progress energy merged), 17 of have been approved or accepted approval nrc. of these nrc approvals, there 14 newly proposed nuclear power plants, , 21 new reactor cores installed in existing facilities, using 5 different designs (as of 2011). furthermore, doe received 2 applications uranium enriched power plants.

as of march 21, 2011 nrc has expected 2 new applications filed in 2012 2 companies, blue castle project in utah , callaway county in missouri. if sites come online, 28,800 mwe per year added power grid. these companies requested loan guarantees totaling far more budgeted $18.5 billion. in total, requested , additional $122 billion, bring overall projected production cost $188 billion. uranium enriched power plants requested total of $4 billion, later accepted both nrc , doe. provided loan guarantees encourage private lenders fund these companies.

in essence, government promising protect lenders against 80% of potential loss, , legitimatizes investment first having doe review applications. moreover, because guarantees, not considered government appropriations; no taxpayer dollars spent unless loans fall through in failed investment. therefore, congressional approval easier get.

because of enormous costs involved, nuclear industry requested more loan guarantees government, totaling $100 billion. in february 2010, president obama, ran on pro-nuclear platform, negotiated companies , added $36 billion budgeted $18.5 billion, bringing total of $54.5 billion presidential 2011 budget doe loans. doe sought $9 billion though other legislation utility companies, southern company , oglethorpe power plant vogtle in georgia, 3 other plants installation of 5 proposed reactor cores.

on april 19, 2011, new york times reported nrg energy has ended construction of 2 largest proposed nuclear plants in south texas. nrg claims write off $331 million investment loss , according david crane nrg s ceo, unless situation changes, chance of continuing “extremely daunting , @ point not particularly likely.”. though plan south texas project 3 , 4 reactors, , identified more 2 years ago energy department 1 of 4 candidates loan guarantees authorized 2005 energy act,

nrg notes there surplus in texas of natural gas utilities , nuclear incident in japan has led further funding problems facilities. although nrg still plans on paying full licensing costs nrc 2 proposed facilities, crane told dallas news if project resurrected, “it have fueled else’s financial resources.” halting of construction of these reactors marks second of 4 die; calvert cliffs 3, in maryland, seems unlikely @ point, because constellation energy not reach financial terms energy department. department has granted conditional loan guarantee 1 project in georgia , may give project in south carolina.