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United States: Senators want to give tax breaks to nuclear power plants

The bill, led by Senator Ben Card, provides $ 15 per megawatt of tax credit to owners or operators of nuclear power plants in states such as New York, Illinois and Pennsylvania, which regulate energy markets. Excelon Corp has two reactors in Cordila State, Maryland. At Calvert Cliffs.

Nuclear reactors are almost non-emission, but struggle to compete with natural gas, wind and solar power generation. There are 93 nuclear reactors in the United States, up from 104 in 2012, according to Reuters, as rising defense spending puts further pressure on business.

If the bill is passed by the Senate and House, it could help President Joe Biden approve a production tax exemption for nuclear power plants, which could achieve the goal of decorbonising the energy sector by 2035.

“The United States must reduce our dependence on fossil fuels, so it is imperative that we keep these reactors running safely as we continue to work on demand reduction, renewables, energy saving and phase recession,” Gardin said in a statement. Senator Joe Manzin, a moderate Democrat, is also the face of the proposed law.

The loan will be refunded to any installations that generate more than $ 25 per MW per hour or after 10 years.

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Excelon said it would close two nuclear power plants in Illinois in the coming months if the state does not receive a subsidy. It is uncertain whether the US bill can help prevent closures.

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