Saturday, September 13, 2025

Latest

US Energy Opens US$6 Billion Subsidy Program To Keep Nuclear Lights On

The US government is determined to achieve its zero-carbon goals as it looks to provide subsidies for American nuclear power firms amid the rising prices of energy resources.

The country’s Energy Department released the guidelines for the earmarked US$6-billion subsidy program for nuclear power companies under US President Joe Biden’s Bipartisan Infrastructure Law. The program, called Civil Nuclear Credit Program, has started accepting applications for the subsidy until its deadline on May 19, 2022.

“As part of this effort, the [law] authorizes and appropriates $6 billion for fiscal years 2022 through 2026 to establish the CNC Program to prevent closures of nuclear power plants by providing financial support for existing Nuclear Reactors projected to cease operations due to economic factors,” read the law.

The department noted that around 12 commercial reactors across the country have closed since 2013 due to “shifting energy markets and other economic factors.”

“Nuclear power currently provides 52 percent of the nation’s clean electricity, and the current fleet of reactors are [sic] a vital resource to achieve a 100 percent carbon pollution-free electricity sector by 2035 and net-zero emissions economy-wide by 2050,” the department said.

For the first cycle, the department plans to execute the awarding by October 1, 2022, while selected nuclear reactors would be submitting certificates of payments annually every end of the year starting 2023 until 2026.

Applicants who were able to demonstrate that it has made a public filing of permanently ceasing their operations on or before November 15, 2021–the day the law was enacted–will be prioritized.

We’re using every tool available to get this country powered by clean energy by 2035,” said Energy Secretary Jennifer Granholm in a statement.

Globally, the US leads the world in nuclear power production, providing around 20% of the country’s energy needs.

U.S. Energy Information Administration - EIA - Independent Statistics and  Analysis
Source: EIA
Twelve U.S. states generate more than 30% of their electricity from nuclear  power - Today in Energy - U.S. Energy Information Administration (EIA)
Source: EIA

Information for this briefing was found via Axios. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Electric Metals: The Sole US Domestic Source Of A Critical Mineral?

Marimaca Copper: The MOD Feasibility Study

Avino Q2 Earnings: Steady As She Goes

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

US Invests $2.8 Billion in Nuclear Power Resurgence

The Biden administration yesterday announced plans to restart decommissioned nuclear reactors and invest in new...

Tuesday, October 8, 2024, 11:43:00 AM

Belgium Pivots to Embrace Nuclear Power Revival

Belgium has gone from planning to phase out nuclear energy to extending the lifetimes of...

Monday, March 25, 2024, 12:34:08 PM

Energy Secretary Calls For More Nuclear Reactors: “2 Down, 198 To Go”

U.S. Secretary of Energy Jennifer Granholm has called for the construction of “hundreds” of new...

Saturday, June 1, 2024, 09:14:00 AM

Canada Adds Nuclear Energy to Green Bond Framework

In its 2023 Fall Economic Statement, the government of Canada announced an updated green bond...

Wednesday, November 22, 2023, 11:42:00 AM

Nuclear Power As Response To Climate Crisis Is Like “Calling On A Sloth To Put Out A House Fire” — Times Columnist

A The New York Times opinion columnist laid out his arguments on why he believes...

Wednesday, September 21, 2022, 02:20:00 PM