US to Own Nuclear Reactors Stemming From Japan’s $550 Billion Pledge

The US government plans to buy and own as many as 10 large nuclear reactors, projects that could be paid for by a $550 billion pledged investment fund being offered by Japan.
The new details of the unusual arrangement were outlined Wednesday by Carl Coe, the Energy Department’s chief of staff, who provided more contours of non-binding commitment made by Japan in October to fund $550 billion in US projects, including as much as $80 billion for the construction of new reactors made by Westinghouse Electric Co.
“The role of having the government involved in private markets is sacrosanct— you just don’t do it,” Coe said at an energy conference hosted by the Tennessee Advanced Energy Business Council. “But this is a national emergency.”

https://archive.ph/Iwa6p#selection-1579.0-1593.227

 

Because big government knows best:

 

Except the electric utility companies don't seem convinced:

 

Cost-conscious utilities resist Trump’s push for nuclear revival

https://www.eenews.net/articles/cost-conscious-utilities-resist-trumps-push-for-nuclear-revival/

 

There's a lot to digest in this article but this part deserves emphasis. It's about the massive cost overruns and delays at the Vogtle nuclear power plant in Georgia:

"Overruns didn’t upend Southern Co.’s balance sheet because the utility was able to pass upfront costs onto ratepayers. Now, other states are aiming to get laws on the books, known as construction work-in-progress rules, that allow their utilities to do the same. A bill in North Carolina attempts to do that. "

 

 

 

 

What happened to drill baby drill, dig baby dig, and burn baby burn.......surely with the 'home grown' resources available to the US they should be burning oil, gas and coal to generate energy?

 

Anyways, I thought energy generation was a state matter?

 

Bessent said (when asked about the 11% annual rise in bills) energy generation and prices have nothing to do with the administration....?