U.S. backs nuclear loans

[jpak]

http://www.baltimoresun.com/business/bal-bz.nuclear05oct05,0,7137717.story

The Energy Department approved giving federal loan guarantees to finance new nuclear plants yesterday, but the industry won't be able to take advantage until Congress approves billions more to fund the program - something that is not expected until at least 2009.

Despite that delay, the decision could help Baltimore's Constellation Energy Group kick-start development of a new reactor it hopes to put adjacent to its Calvert Cliffs nuclear plant in Lusby.

Constellation said the loan guarantees are essential to its plans to build a standardized series of advanced nuclear plants for itself and other utility buyers nationwide. The plants - at least six so far - are among about 30 new reactors proposed industrywide and would be among the first built in the U.S. in more than 30 years.

The Energy Department's decision yesterday clears the way for billions of dollars in loan guarantees for a first wave of projects that include hydrogen fuel cell, biomass, solar and so-called "clean" coal plants.

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[NNadir]

1. Good. The Government should purchase nuclear plants outright, TVA style.

It's the only real shot we've got at phasing out coal.