Feds extend nuclear power subsidy

On March 23rd, President Biden signed an appropriations bill that also included a 40-year extension of a key subsidy to the nuclear industry, the Price-Anderson Act.

Thanks to this policy, should a catastrophic accident happen at one of the 54nuclear plants operating in the United States, the nuclear industry would be liable for the first $16.1 billion in damages and taxpayers would be on the hook to cover the remainder. The Fukushima nuclear disaster has already been reported to exceed $90 billion. The full value of the Price-Anderson nuclear subsidy is difficult to estimate, but if nuclear operators had to carry the full cost of insurance against a nuclear accident, the plants would most likely become uneconomic to build.

https://environmentamerica.org/minnesota/updates/feds-extend-nuclear-power-subsidy/?pg=23