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Reactor Loans Get A Guarantee

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The Tampa Tribune

Published: October 5, 2007

WASHINGTON - The Energy Department said Thursday that it will guarantee loans for up to 80 percent of the total construction cost of new nuclear reactors, a decision likely to further a U.S. nuclear revival that's getting started.

Because of budget constraints, the earliest any company proposing to build a new reactor could benefit is 2009.

The nuclear power industry had been critical of earlier plans for a loan guarantee program included in the 2005 energy bill, saying the guarantees were not generous enough and would stall the burgeoning development of reactors. The industry's trade group, the Nuclear Energy Institute, applauded Thursday's decision, calling it a 'substantial improvement' from the initial proposal.

Under the old plan, the Energy Department would have only guaranteed loans for about two-thirds of total construction costs of new nuclear reactors and other projects.

The Associated Press

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