NEW YORK (AP) — Something could be missing from your next electric bill: a fee that electric customers have been paying for 31 years to fund a federal nuclear waste site that doesn't exist.
The Energy Department will stop charging the fee by court order on Friday. The amount is only a small percentage of most customers' bills, but it adds up to $750 million a year. The fund now holds $37 billion.
The money was collected to build a long-term disposal site for the highly radioactive nuclear waste generated by the nation's nuclear power plants that is, by law, the federal government's responsibility.
With the number of decommissioned nuclear reactors growing, lawmakers on the Senate Environment and Public Works Committee, led by chair Barbara Boxer, D-Calif., grilled experts on the safety and security of the spent fuel being stored on the sites, The New York Times reports.
ATLANTA (AP) — A recent decision brings a power company in Georgia a step closer to getting government-subsidized loans to build a new nuclear power plant.
The Municipal Electric Authority of Georgia, or MEAG, can transfer its 23 percent ownership stake in two new reactors at Plant Vogtle to three wholly owned firms created to facilitate project lending, under a recent decision from the U.S. Nuclear Regulatory Commission.
MEAG is seeking more than $2 billion in low-interest loans from the U.S. government to cover part of its share of costs to build one of the country's first brand-new nuclear plants in a generation. The two other major co-owners, Southern Co. subsidiary Georgia Power and Oglethorpe Power, have already struck deals with the U.S. Department of Energy to get $6.5 billion in government-backed lending.
SIOUX FALLS, S.D. (AP) — A company proposing a uranium mine near Edgemont needs better studies to ensure that its operations won't hurt cultural and historic sites in the Black Hills, an attorney representing the Oglala Sioux Tribe said Tuesday.
Three administrative judges of the federal Atomic Safety and Licensing Board listened to telephone arguments on its April decision to put a temporary hold on the U.S. Nuclear Regulatory Commission operating license for Powertech Uranium Corp.
TALLAHASSEE, Fla. (AP) — Florida's largest power company received the go-ahead from state officials Tuesday to construct two nuclear reactors in South Florida, a project vehemently opposed by officials in several cities in Miami-Dade County.
Gov. Rick Scott and the three members of the Florida Cabinet voted Tuesday in favor of a plan that would allow Florida Power & Light to add nuclear generators to its existing Turkey Point facility near Homestead. The project would add approximately 2,200 megawatts of power, enough for about 750,000 homes.
The vote also gives the utility permission to erect nearly 90 miles of new power lines to carry electricity from the plant, including lines that will skirt the Everglades National Park.
Sens. Barbara Boxer, D-Calif., Ed Markey, D-Mass., and Bernie Sanders, I-Vt., have introduced legislation aimed at increasing safety and security at nuclear plants that are getting decommissioned, The Hill reports.
Kitty litter was used to absorb liquid in radioactive waste sent to the Waste Isolation Pilot Plant in New Mexico, and a scientist who used to work there told the Carlsbad Current-Argus that changing to an organic mixture could have triggered an explosion in a drum holding waste there.
Short-covering and the expiration of the front month contract helped power oil prices to a huge gain Friday. West Texas Intermediate crude for January delivery shot up 5 percent, or $2.41, to settle at $56.52 a barrel on the Nymex, while in London February Brent finished $2.11 higher at $61.38, Reuters reports.
Oilfield services company Baker Hughes reported Friday that 1,875 rigs were drilling for oil and gas in the U.S. this week, a drop of 18 and the second week in a row that the number has fallen, FuelFix reports.
Comparing present-day statistics with numbers during the oil bust in the mid-1980s has led JP Morgan Chase economist Michael Feroli to warn that Texas could slip into a regional recession next year, FuelFix reports.
Job losses in the power generation sector over the past three years topped 5,800, according to data released by the Energy Information Administration Friday, which said all parts of the industry were affected other than renewable energy, The Hill reports.
Avenue Capital, the hedge fund run by Marc Lasry that specializes in buying distressed companies’ debt, is raising $750 million for a fund that will focus on the energy sector, according to the Pennsylvania Public School Employees’ Retirement Board, which confirms it has put in $200 million, the New York Post reports.
Tesla is testing the market for battery swaps: Near California supercharging stations where Model S owners can top up their batteries for free, the company is creating a facility where drivers can pay a cost equivalent to a tank of gasoline and get a fully-charged battery installed in three minutes, The Wall Street Journal reports.
The growth of global carbon emissions slowed in 2013 -– although the total of 35.3 billion tons did set a record -- and the rate of increase tailed off despite an uptick in economic activity, says a report from the European Commission’s Emissions Database for Global Atmospheric Research, or EDGAR, according to E&E.
INEOS hopes to get commercial shale gas production under way in Britain before the end of the decade, according to documents the government released Friday, which detailed the company’s presentation to the Department of Energy and Climate Change in February, Platts reports.