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The Biden administration announced new measures Wednesday intended to accelerate the development of new U.S. nuclear power projects, seeking to help mitigate risk associated with the construction of plants that can cost tens of billions of dollars.
The last commercial-scale reactor built in the U.S., Southern Co.’s Vogtle nuclear project, came in more than $16B over budget and seven years behind schedule.
The White House unveiled a new working group – including members of federal agencies as well as nuclear developers, contractors, labor and non-profit organizations – that will seek to identify ways to mitigate cost and schedule overruns in plant construction.
It also said the Army will solicit feedback for a program to deploy advanced nuclear reactors to provide power to multiple facilities around the U.S.
The Biden administration has said nuclear is needed to meet U.S. climate and clean power goals, but a dozen reactors have closed since 2013, losing out against cheaper power from natural gas and renewable energy sources.
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