by Katherine Berezowskyj

Today in the Washington Post, the focus was on the role of nuclear energy in the climate bill.

“The elements of a nuclear package under discussion include investment tax credits, a doubling or more of the existing $18.5 billion in federal loan guarantees for new plants, giving nuclear plants access to a new clean energy development bank, federally financed training for nuclear plant workers, a new look at reprocessing nuclear fuel, and a streamlining of the regulatory approval process, according to corporate, congressional and administration sources.

Designed to put nuclear power on an even footing with wind and solar, the package comes on top of existing incentives, such as the production tax credit…

Even relatively liberal lawmakers such as Sen. Mark Udall (D-Colo.) are talking about the need to insert nuclear power incentives into a climate bill. President Obama has said he is open to new nuclear plants. And Energy Secretary Steven Chu has said that the country should “not stop at three or four, but should get tens of [new] reactors.”

The article also mentions AREVA Newport News, the AREVA and Northrop Grumman $360 million heavy components manufacturing facility currently under construction. Jacques Besnainou, AREVA North America President, was also quoted saying “Nuclear is not the only solution for the U.S., but there’s no solution without nuclear energy.”

However the subject of taxpayer subsidies and federal loan guarantees should have a little more attention. Saying that the industry is “relying on subsidies” is not accurate of the loan guarantee program. Loan guarantees provide a federal backstop so that companies can obtain the financing for developing new projects. According to the Department of Energy, loan guarantees “support early commercial use of advanced technologies, if “there is reasonable prospect of repayment of the principal and interest on the obligation by the borrower.” The program was established to support the development of clean energy technologies, like nuclear energy, especially in the tight capital market.

See the full article, “A Nuclear Power Boost for Bill,” for more discussion of nuclear energy as a part of this key climate legislation.