Nuclear Energy

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Economically failing nuclear plant to receive 1.1B bailout (apnews.com)

submitted 9 months ago by lettruthout to c/[email protected]

4 comments fedilink hide all child comments

cross-posted from: https://lemmy.world/post/10870837

"President Joe Biden’s administration on Wednesday finalized approval of $1.1 billion to help keep California’s last operating nuclear power plant running. "

Because renewable energy sources are too expensive?

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[–] [email protected] 2 points 9 months ago (1 children)

Nice framing, but that's a whopping 1.2 cents in financial aid per kWh.

Sounds like great deal actually.

[–] lettruthout -5 points 9 months ago

Of course it's a good deal - for the companies involved. They get to socialize the costs, while privatizing the profits.

The rest of us pay for this, and get a legacy of radioactive waste, and a delay in the inevitable transition to renewable power.

For anyone paying attention, this is just one more example of how the nuclear industry has failed economically.

[–] [email protected] 2 points 9 months ago (1 children)

If you want to talk about subsidies, let's talk about how fossil fuels and renewables get MORE subsidies than nuclear energy. https://www.eia.gov/analysis/requests/subsidy/pdf/subsidy.pdf

[–] [email protected] 2 points 9 months ago

Very similar for the EU (this subsidy is only used for decommissioning NPPs too).