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Nuclear Energy Institute
FOR IMMEDIATE RELEASE: May 26, 2005
Contact: media@nei.org, 202.739.8000 or 703.644.8805 (after hours and weekends)

Senate Energy Panel Approves Investment Incentives for New Nuclear Power Plants

WASHINGTON—The Senate Energy and Natural Resources Committee today approved the “Incentives for Innovative Technologies” title of comprehensive energy legislation. The section features a loan guarantee program that would encourage investment in new nuclear power plants. Following is a statement from John Kane, the Nuclear Energy Institute’s senior vice president of governmental affairs.

“The approval of financing incentives for new or advanced energy technologies that avoid, reduce or sequester air pollutants is proof that Senators Pete Domenici and Jeff Bingaman understand that a new generation of nuclear power plants is an integral component to any comprehensive energy bill that will bring us closer to our goals of energy independence, economic expansion and environmental stewardship.

“Limited federal investment for a limited number of new nuclear plants for a limited period of time will jump-start the construction of the first advanced-design nuclear power plants as they navigate the Nuclear Regulatory commission’s new licensing process. After the first handful of plants is built, costs will come down, and new plants will prove their mettle in the competitive marketplace.

“This limited federal investment has been employed in many sectors throughout our nation’s history, and it is fully warranted given the importance of advanced-design nuclear power plants to the national interest. We look forward to working with members of the Senate on a bipartisan basis to see these important proposals enacted into law.”
 

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The Nuclear Energy Institute is the nuclear energy industry’s policy organization. This news release and additional information about nuclear energy are available on NEI’s Internet site at http://www.nei.org.



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