U.S. Is Set to Launch a $6 Billion Effort to Save Nuclear Plants

(Bloomberg) The Energy Department is expected to provide details as soon as Monday on a $6 billion program aimed at keeping uneconomical nuclear plants in service, providing a lifeline to an industry that’s seen a raft of early reactor retirements driven by competition from cheaper power sources.

The program, funded through the $550 billion infrastructure bill signed into law last year, will let owners and operators of commercial nuclear reactors apply for credits for plants that are likely to shut down for economic reasons if the closures would lead to higher emissions. The agency is set to issue a guidance document this week detailing the application process.

Reactors supply more emission-free power than all of the nation’s renewable sources combined,

U.S. Is Set to Launch a $6 Billion Effort to Save Nuclear Plants