"Nuclear’s $6 Billion Bailout Likely to Help Only Diablo Canyon"

"A $6 billion credit program was a centerpiece win for the nuclear industry in last year’s bipartisan infrastructure bill—a move aimed to prevent the imminent closure of zero-emissions power plants that struggled to compete with low natural gas prices in the 2010s.

Now, the Energy Department is unlikely to find plants to sign up.

In fact, just one plant—Pacific Gas and Electric Corp.'s Diablo Canyon in California—was expected to apply for the first round of the program, which accepted applications through 11:59 p.m. Tuesday. PG&E confirmed its application last week.

After extending the deadline and revising the program’s rules this summer, the department is looking at ways to keep the program going for four more years."

Daniel Moore reports for Bloomberg Environment September 7, 2022.

Source: Bloomberg, 09/08/2022