NEWS RELEASE

Nuclear Energy Industry Will Review Proposed Regulations for DOE Loan Guarantee Program

WASHINGTON—The U.S. Department of Energy (DOE) issued a notice of proposed rulemaking today for the loan guarantee program authorized under Title XVII of the Energy Policy Act of 2005 to encourage investment in projects employing clean-energy technologies. Below is a statement from Richard Myers, Nuclear Energy Institute vice president of policy development.

“DOE has taken an important step in issuing for review and comment its proposed regulations for the loan guarantee program. An effective energy loan guarantee program is necessary to support the financing and construction of new nuclear power plants in the United States. Given the complexity of the financing issues for capital-intensive power projects, NEI will need to review these proposed regulations in-depth and consult with our member companies before commenting on the substance of the proposals.

“The energy loan guarantee program is important because of the cost of new nuclear power plants relative to the size of the companies that will build them. Any successful effort to stimulate the substantial investment required in the nation’s electricity infrastructure – particularly deployment of advanced clean-energy technologies – will require effective implementation of the provisions of the 2005 Energy Policy Act.

“The Department of Energy projects a 40-plus percent increase in electricity demand in the next two decades, with some states seeing demand increases in excess of 70 percent. The United States also faces the challenge of reducing greenhouse gas emissions. Nuclear energy is uniquely positioned as a baseload energy technology capable of helping to address both challenges.”