Obama to announce loan help for nuclear power

By | February 16, 2010

Obama to announce loan help for nuclear power

The Obama administration, advancing nuclear power use to help cut greenhouse gas emissions, will announce on Tuesday an $8.3 billion loan guarantee to help Southern Co build two reactors, a government official told Reuters.

… Southern applied to the Nuclear Regulatory Commission in March 2008 to build two reactors at the company’s Vogtle nuclear power plant in Georgia, which already has two reactors. The Vogtle plant is about 170 miles east of Atlanta.

Southern says it expects to receive license approval for the new reactors next year.

REACTORS COULD COST $8.8 BILLION

Supporters of nuclear power argue more reactors will be needed for the United States to tackle global warming effectively because nuclear is a much cleaner energy source than coal-fired power plants, which spew greenhouse gases.

Nuclear power is controversial, however, because of its radioactive waste, which is now stored on site at reactor locations around the country.

The two reactors, which some experts estimate will cost $8.8 billion to build, could be in service in 2016 and 2017.

The project would create 3,500 jobs during construction and 800 high-paying jobs when finished.

The government’s financial assistance for Southern comes from $18.5 billion in nuclear loan guarantee authorized by Congress. The department is expected to announce similar loan deals for other nuclear power plant projects in the future.

The Obama administration has also asked Congress to triple funding for the nuclear loan guarantee program to about $54 billion.

Nuclear power generates about 20 percent of U.S. electricity supplies.

The Vogtle power plant can currently produce 2,300 megawatts of electricity. The two new reactors would provide an additional 2,200 megawatts of electricity output. One megawatt provides power to about 500 homes in Georgia. …

via Obama to announce loan help for nuclear power | Reuters.

I’ve had nightmares about this place. Well, it could be some other plant that looks similar.  I was underground and there was an accident, I was running…  I hope they have that nuke-away spray working.

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