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2018-02-14 09:45:00

U.S. NUCLEAR WILL UP

U.S. NUCLEAR WILL UP

WNNThe USA has extended production tax credits for advanced nuclear power plants under a budget bill signed into law by President Donald Trump. The nuclear production tax credit is seen as an essential component for the completion of US plants already under construction and for first-of-a-kind small modular reactor (SMR) construction.

HR 1892 - the Bipartisan Budget Act of 2018 - was passed by the US Senate and Congress in the early hours of 9 February and signed into law by the President later the same day, ending a brief government shutdown. The act, which includes defence and domestic spending with funding for healthcare and infrastructure, gained bipartisan support in both houses.

Nuclear production tax credits were created under the 2005 Energy Policy Act to provide federal support for projects such as Georgia Power's Vogtle units 3 and 4. The credit was set at 1.8 cents per kilowatt-hour of electricity over eight years, subject to limitations. To be eligible for the credit, plants were required to enter commercial operation by the end of 2020; however the Vogtle plants are not expected to enter service until November 2021 (unit 3) and November 2022 (unit 4).

Section 40501 of the new law allows reactors entering service after 31 December 2020 to qualify for the tax credits, and enables the US Energy Secretary to allocate credits for up to 6000 MWe of new nuclear capacity which enters service after 1 January 2021. It also allows public entity partners in the projects - such as Vogtle's minority owners Oglethorpe Power, MEAG Power and the city of Dalton - to transfer their credits to other credit partners.

The 2021 deadline means that the two Vogtle units will be eligible for the tax credits. Other projects, such as NuScale Power's plans to build its first commercial SMR plant at the Idaho National Laboratory by 2026, will also now be able to benefit.

Georgia Power's recommendation to continue with the construction of the two AP1000 reactors at Vogtle, following contractor Westinghouse's Chapter 11 bankruptcy filing in March last year, received approval from the state's public service commission in December.

Federal support and "constructive legislation" continue to be an important key to the project's success, the company said. The new law further reduces the risk for the continuing construction of the units, for which the company also holds more than $5 billion in anticipated loan guarantees from the Department of Energy.

The company praised members of Congress for voting to approve the legislation to extend the tax credits deadline, led by Senator Johnny Isakson.

"We are grateful to Senator Isakson for his leadership on this issue, and to the entire Georgia delegation for recognising the importance of new nuclear generation and demonstrating renewed federal support for the Vogtle project," he said. "At Georgia Power, we are focused on delivering value to our customers every day and we're committed to completing these new units."

Maria Korsnick, president and CEO of the US Nuclear Energy Institute, said the vote was "a vote for continued American leadership in nuclear energy, environmental stewardship and thousands of jobs", with tax credits supplying an essential component to complete construction of the Vogtle plant and also paving the way to build NuScale's Idaho SMR.

"Both projects will serve as anchors for energy infrastructure ... as they generate carbon-free electricity, spur economic growth and support a diverse and reliable electric grid for decades to come," she said.

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2018, February, 5, 07:20:00

U.S. NUCLEAR RESILENCE

DOE recently released a report that dives into the emerging technology of advanced small modular reactors (SMRs) and their ability to flexibly provide carbon-free power in response to outages caused by severe weather and physical threats to the grid.

 

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2018, January, 24, 11:35:00

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2018, January, 22, 08:25:00

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WNA - The USA is the world's largest producer of nuclear power, accounting for more than 30% of worldwide nuclear generation of electricity. The country's 99 nuclear reactors produced 805 billion kWh in 2016, almost 20% of total electrical output.

 

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2018, January, 22, 08:05:00

U.S. - RUSSIA'S NUCLEAR

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2017, November, 9, 13:50:00

EIA: NUCLEAR ENERGY WILL UP

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2017, October, 14, 18:38:00

U.S. NUCLEAR POWER HELPS

REUTERS - “If we lose our supply chain, if we lose our intellectual chain of supply of bright scientists because we basically pushed the nuclear industry back, then we’re going to lose our role as a leader when it comes to nuclear energy in the world,” Perry said.

 

 Nuclear
2017, August, 11, 18:59:00

U.S. NUCLEAR POWER FUTURE

CARNEGIE - The United States generates one-fifth of its electricity using one hundred nuclear power reactors. That’s more reactors than in any other country, but until 2013 the last construction start in the United States was in 1977.

Tags: USA, NUCLEAR, POWER

Chronicle:

U.S. NUCLEAR WILL UP
2018, February, 16, 23:15:00

DEWA INVESTS $22 BLN

AOG - The Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.

U.S. NUCLEAR WILL UP
2018, February, 16, 23:10:00

TRANSCANADA NET INCOME $3.0 BLN

TRANSCANADA - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per share in 2016.

U.S. NUCLEAR WILL UP
2018, February, 16, 23:05:00

RUSSIAN NUCLEAR FOR CONGO

ROSATOM - February 13, 2018, Moscow. – ROSATOM and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo today signed a Memorandum of Understanding on cooperation in the field of peaceful uses of atomic energy.

U.S. NUCLEAR WILL UP
2018, February, 16, 23:00:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.1%

FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.

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