Small Reactors Generate Big Hopes
By REBECCA SMITH
WSJ
A new type of nuclear reactor—smaller than a rail car and one tenth the cost of a big plant—is emerging as a contender to reshape the nation's resurgent nuclear power industry.
Three big utilities, Tennessee Valley Authority, First Energy Corp. and Oglethorpe Power Corp., on Wednesday signed an agreement with McDermott International Inc.'s Babcock & Wilcox subsidiary, committing to get the new reactor approved for commercial use in the U.S.
Although none have agreed to buy a reactor, the utilities' commitment should help build momentum behind the technology and hasten its adoption across the industry. It's a crucial first step toward getting the reactor design certified by the Nuclear Regulatory Commission. Early support from the three utilities, and four others that are mulling the agreement, increases the odds that customers will come forward in the future.
The news comes just as President Barack Obama announced more than $8 billion in loan guarantees this week that would pave the way for the first nuclear power plant in the U.S. in almost 30 years. He has proposed accelerating nuclear development by tripling the amount of federal loan guarantees for reactor construction to $54 billion.
(More here.)
WSJ
A new type of nuclear reactor—smaller than a rail car and one tenth the cost of a big plant—is emerging as a contender to reshape the nation's resurgent nuclear power industry.
Three big utilities, Tennessee Valley Authority, First Energy Corp. and Oglethorpe Power Corp., on Wednesday signed an agreement with McDermott International Inc.'s Babcock & Wilcox subsidiary, committing to get the new reactor approved for commercial use in the U.S.
Although none have agreed to buy a reactor, the utilities' commitment should help build momentum behind the technology and hasten its adoption across the industry. It's a crucial first step toward getting the reactor design certified by the Nuclear Regulatory Commission. Early support from the three utilities, and four others that are mulling the agreement, increases the odds that customers will come forward in the future.
The news comes just as President Barack Obama announced more than $8 billion in loan guarantees this week that would pave the way for the first nuclear power plant in the U.S. in almost 30 years. He has proposed accelerating nuclear development by tripling the amount of federal loan guarantees for reactor construction to $54 billion.
(More here.)
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