Wednesday, June 17, 2009

U.S. Fast-Tracks Four Utilities to Build Nuclear Plants

Much as the Chinese government "anoints" winners in major industries, forcing consolidations and efficiencies, the U.S. government has "picked" the winners of $18.5 billion in federal financing guarantees for new nuclear plant construction projects. Not mentioned was how to fast track the myriad law suits that will appear to block each of these projects.


Four power companies are expected to split $18.5 billion in federal financing to build the next generation of nuclear reactors -- the biggest step in three decades to revive the U.S. nuclear industry and one that could vault the utilities ahead of some of the sector's strongest players.

UniStar Nuclear Energy, NRG Energy Inc., Scana Corp and Southern Co. are expected to share a set of loan guarantees to be awarded by the Energy Department. The guarantees would enable the companies to start building the reactors as early as 2011, with the plants likely to come online by 2015 or 2016.

Balance of article: WSJ

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