Energy secretary offers incentives to build more nuclear plants
(Atlanta-AP) August 4, 2006 - The nation's energy chief announced a plan Friday to provide incentives to companies willing to build the first new nuclear plants in 30 years.
Energy Secretary Samuel Bodman offered $2 billion in federal insurance for construction of six plants. He said "I think it's time for the nation that invented this technology to reassert its leadership."
The United States has 103 nuclear power plants in 31 states, but utilities have not proposed a new reactor since 1973.
High costs and debate over where to store radioactive waste bogged down construction efforts, and a partial meltdown at the Three Mile Island plant in 1979 in Pennsylvania put an end to plans for new reactors.
But with energy prices on the rise, supporters of nuclear power have promoted it as a way to generate cheaper electricity without churning out greenhouse gases.
Bodman said 12 utilities are expected to file papers over the next three years to build 18 reactors. The insurance plan would provide up to 500 (m) million dollars in coverage for the first two plants and up to 250 (m) million dollars for the next four plants.
Georgia Power, which provides electricity to the Atlanta area, might take up Bodman's offer. The company is considering building a new reactor at its Plant Vogtle site near Waynesboro, Ga.
Posted 2:01pm by Logan Smith