this post was submitted on 07 Dec 2024
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Probably the same reason a nuclear plant is getting a loan to reopen in Michigan. The government offers a loan program at attractive rates, so why wouldn't they apply?
Energy needs in the region will continue to increase regardless of what Microsoft does. New York used to have higher energy production from nuclear, and this could end up replacing some natural gas supply.
It seems like you're looking for reasons to oppose it instead of looking at the facts.
Ain't it grand that pedons pay for everything then get priced gouged on the back end haha
Shouldnt private capital and debt fund capex of corporate parasites
Asking for a friend lol
Utilities are in a weird situation of being private, but extremely regulated, especially for nuclear. I don't know how NY and MI work, but in my state, the electric company has to ask for approval for rate hikes.
Since there's already so much overlap, I'm honestly okay with the federal loans here, especially with the level of assets the company already has, which makes it a really low risk loan (though I don't know the terms of the loan). All that's really happening here is the federal government is giving it a lower rate.