Latest news with #energyemergency
New York Times
4 days ago
- Business
- New York Times
Coal and Gas Plants Were Closing. Then Trump Ordered Them to Keep Running.
A 63-year-old coal-fired power plant was scheduled to permanently close its doors in Michigan on June 1. So was an oil- and gas-powered plant that was built in the 1960s in Pennsylvania. But at the last minute, the Trump administration ordered both to stay open. The orders came as it pursues a far-reaching plan to boost fossil fuels, including coal, by declaring a national 'energy emergency.' The grid operators in Michigan and Pennsylvania said they hadn't asked for the orders and hadn't planned on using the plants this summer. The costs to keep the plants open, which could total tens of millions of dollars, are expected to fall on consumers. Experts have said there's little evidence of a national energy emergency, and 15 states have sued to challenge President Trump's declaration, which was issued the day he took office. The emergency orders, which came last month, surprised the companies that operate the plants, and they are now scrambling to delay some workers' retirements and reverse nearly complete plans to shutter their facilities. In Michigan, the plant operator raced to buy enough coal to power operations. The episode marks a highly unusual use of the Energy Department's emergency powers under the Federal Power Act. In the past, the department has typically issued emergency orders at the request of regional grid operators to stabilize the power supply during extreme weather events and blackouts. Source: U.S. Energy Information Administration Note: 'Other' includes batteries, biomass, hydroelectric, solar, waste, and wind. Source: U.S. Energy Information Administration Want all of The Times? Subscribe.
New York Times
23-05-2025
- Business
- New York Times
Trump Orders Faster Build-Out of Nuclear Power Plants
President Trump signed four executive orders on Friday aimed at accelerating the construction of nuclear power plants in the United States, including a new generation of small, advanced reactors that offer the promise of faster deployment but have yet to be proven. One order directs the Nuclear Regulatory Commission, the nation's independent safety regulator, to streamline its rules and to take no more than 18 months to approve applications for new reactors. Another order directs the Energy and Defense departments to explore siting reactors on federal lands and military bases, possibly alongside new data centers. That could allow the departments to bypass the N.R.C. and develop their own, faster processes for approving reactors. 'This is a huge day for the nuclear industry,' said Doug Burgum, the interior secretary, as he stood behind Mr. Trump at a signing ceremony in the Oval Office. 'Mark this day on your calendar. This is going to turn the clock back on over 50 years of overregulation.' In one of his first acts in office, Mr. Trump declared a 'national energy emergency,' saying the country did not have enough electricity to meet its growing needs, particularly for data centers that run artificial intelligence. While most of Mr. Trump's actions have focused on boosting coal, oil and natural gas, administration officials have supported nuclear power, too. Nuclear power enjoys bipartisan backing in Congress. While some Democrats remain opposed because of concerns about safety and disposal of nuclear waste, an increasing number have embraced the technology because it doesn't produce planet-warming emissions. Republicans support it because it can run at all hours, unlike wind and solar power. The far-reaching domestic policy bill passed by House Republicans this week aimed to halt federal support for most types of emissions-free power. But the nuclear industry got an exemption: Companies aiming to build new reactors would still be able to get a tax break as long as they begin construction by the end of 2028. Even so, developing new reactors in the United States has proved enormously difficult. While the country has the world's largest fleet of nuclear power plants, only three new reactors have come online since 1996. Many utilities have been scared off by the cost: The two most recent reactors built at the Vogtle nuclear power plant in Georgia totaled $35 billion, double the initial estimates, and arrived seven years behind schedule. In recent years, more than a dozen companies have begun developing a new generation of smaller reactors a fraction of the size of those at Vogtle. The hope is that these reactors would have a lower upfront price tag, making them a less risky investment for utilities. They might also be based on a design that could be repeated often, as opposed to custom-built, to reduce costs. So far, however, none of these next-generation plants have been built, although projects are underway in Wyoming, Louisiana and Tennessee. Some nuclear proponents and companies have blamed the sluggish pace on the Nuclear Regulatory Commission, which must approve new designs before they are built. Critics say that many of the regulations that the agency uses were designed for an earlier era and are no longer appropriate for advanced reactors that are designed to be less susceptible to meltdowns. 'This is an agency that needs be shaken up a bit,' said Jacob DeWitte, chief executive of Oklo Inc., a startup that has developed a small advanced reactor that it plans to build at Idaho National Laboratory. He called the executive orders 'incredibly exciting on multiple fronts.' The Trump administration is planning a 'substantial reorganization' of the Nuclear Regulatory Commission, which could involve staff turnover, said a White House official who spoke on a condition of anonymity because they were not authorized to speak publicly. It is unclear whether the president can order sweeping changes at the Nuclear Regulatory Commission, which Congress established to be independent from the White House. In recent months, Mr. Trump has sought to exert greater authority over independent agencies, setting up a showdown in the courts. Skeptics of nuclear power fear that pressure from the White House could cause the agency to take shortcuts on safety. Since the partial meltdown of the Three Mile Island plant in Pennsylvania in 1979, in which there were no fatalities, the Nuclear Regulatory Commission has ratcheted up safety requirements. While that has made it harder to build new plants, the country has also not experienced another major nuclear accident. 'Simply put, the U.S. nuclear industry will fail if safety is not made a priority,' said Edwin Lyman, the director of nuclear power safety at the Union of Concerned Scientists and a frequent critic of the industry. He added that if another large radiological release were to occur, it would 'destroy public trust in nuclear power and cause other nations to reject U.S. nuclear technology for decades to come.' Even a few nuclear companies and proponents have been nervous about a major shake-up at the Nuclear Regulatory Commission. They note that the agency has already started streamlining its approval processes in response to bipartisan bills passed by Congress, and that a hasty reorganization could, paradoxically, end up delaying approvals for the nuclear companies that are in the process of getting permits. Another order calls on the secretary of energy to develop a plan to rebuild U.S. supplies of enriched uranium and other nuclear fuels, which in recent years have largely been imported from Russia. But speeding up regulatory approvals won't be sufficient to revive the nuclear industry, some experts said. The first few reactors that do get built are likely to be enormously expensive, and some sort of government support would likely be required to help companies build reactors at a pace that could drive down costs. Chris Wright, the secretary of energy, has talked about using his department's Loan Programs Office, which currently has $400 billion in lending authority, to finance initial nuclear projects. Yet the office has lost more than half its staff after a wave of Trump administration buyouts and layoffs, and House Republicans sought to cut funding for the office in their domestic policy bill. The executive orders 'might help us build a few first-of-a-kind demonstration reactors, but that's it,' said Armond Cohen, executive director of the Clean Air Task Force, an environmental group that supports nuclear power. 'We still need a strategy for getting an entire commercial industry scaled up.'
Reuters
23-05-2025
- Business
- Reuters
Nuclear stocks surge on report of Trump executive orders to boost industry
May 23 (Reuters) - Shares of nuclear power soared in premarket trading after a Reuters report said U.S. President Donald Trump will sign executive orders aimed to jumpstart the nuclear energy industry as soon as Friday. Trump is expected to streamline the regulatory process for new reactor approvals and enhance fuel supply chains, four sources familiar with the matter told Reuters. Uranium miners led the gains with Uranium Energy (UEC.A), opens new tab up 11.8%, Energy Fuels (UUUU.A), opens new tab climbing 13.2%, and Centrus Energy (LEU.A), opens new tab surging 19.6%. Nuclear utilities Constellation Energy (CEG.O), opens new tab rose 5.5%, GE Vernova (GEV.N), opens new tab was up 3.3% and Vistra (VST.N), opens new tab added 4%. Sam Altman-backed nuclear startup Oklo Inc (OKLO.N), opens new tab jumped 16%, while Nano Nuclear Energy (NNE.O), opens new tab soared 15.8%. NuScale Power (SMR.N), opens new tab, which develops nuclear technology, added 14.1% and Global X Uranium ETF (URA.P), opens new tab surged 9%. The United States is facing the first rise in power demand in two decades from the boom in artificial intelligence, Trump declared an energy emergency on his first day in office.
Arab News
22-05-2025
- Business
- Arab News
Trump to sign orders to boost nuclear power as soon as Friday, sources say
WASHINGTON: US President Donald Trump will sign executive orders as soon as Friday that aim to jumpstart the nuclear energy industry by easing the regulatory process on approvals for new reactors and strengthening fuel supply chains, four sources familiar said. Facing the first rise in power demand in two decades from the boom in artificial intelligence, Trump declared an energy emergency on his first day in office. Chris Wright, the energy secretary, has said the race to develop power sources and data centers needed for AI is 'Manhattan Project 2,' referring to the massive US program during World War II to develop atomic bombs. A draft summary of the orders said Trump will invoke the Cold War-era Defense Production Act to declare a national emergency over US dependence on Russia and China for enriched uranium, nuclear fuel processing and advanced reactor inputs. The summary also directs agencies to permit and site new nuclear facilities and directs the Departments of Energy and Defense to identify federal lands and facilities for nuclear deployment and to streamline processes to get them built. It also encourages the Energy Department to use loan guarantees and direct loans to increase the build out of reactors. Trump only used the Loan Programs Office in his first administration to support a large nuclear plant in Georgia. The LPO has now has hundreds of billions of dollars in financing thanks to legislation passed during former President Joe Biden's administration, but has been hit hard by job cuts during Trump's second administration. The White House did not immediately respond to a request for comment. The exact text and wording of draft executive orders is subject to frequent changes and there is no guarantee elements of the EOs will not be excised or modified during the final stages of the review process. The United States was the first developer of nuclear power and has the most nuclear power capacity in the world, but the energy source is now growing the fastest in China. One of the sources said officials from the industry including the Nuclear Energy Institute and Constellation , a utility with the biggest US reactor capacity, were invited to attend a signing ceremony Friday afternoon. Constellation and NEI did not immediately respond to requests for comment. The Trump administration has been debating four draft executive orders to boost nuclear power that sought ways to give the administration more power to approve reactors and reform the Nuclear Regulatory Commission, the body of five panelists that approves reactors. Nuclear is popular with Democrats for being virtually free in carbon emissions and with Republicans for providing reliable electricity compared to wind and solar power which can be intermittent, a problem that can be managed with battery storage. Nuclear power produces radioactive waste which for which there is no permanent repository in the United States.
Reuters
22-05-2025
- Business
- Reuters
Trump to sign orders to boost nuclear power as soon as Friday, sources say
WASHINGTON, May 22 (Reuters) - U.S. President Donald Trump will sign executive orders as soon as Friday that aim to jumpstart the nuclear energy industry by easing the regulatory process on approvals for new reactors and strengthening fuel supply chains, four sources familiar said. Facing the first rise in power demand in two decades from the boom in artificial intelligence, Trump declared an energy emergency on his first day in office. Chris Wright, the energy secretary, has said the race to develop power sources and data centers needed for AI is "Manhattan Project 2", referring to the massive U.S. program during World War II to develop atomic bombs. A draft summary of the orders said Trump will invoke the Cold War-era Defense Production Act to declare a national emergency over U.S. dependence on Russia and China for enriched uranium, nuclear fuel processing and advanced reactor inputs. The summary also directs agencies to permit and site new nuclear facilities and directs the Departments of Energy and Defense to identify federal lands and facilities for nuclear deployment and to streamline processes to get them built. It also encourages the Energy Department to use loan guarantees and direct loans to increase the build out of reactors. Trump only used the Loan Programs Office in his first administration to support a large nuclear plant in Georgia. The LPO has now has hundreds of billions of dollars in financing thanks to legislation passed during former President Joe Biden's administration, but has been hit hard by job cuts during Trump's second administration. The White House did not immediately respond to a request for comment. The exact text and wording of draft executive orders is subject to frequent changes and there is no guarantee elements of the EOs will not be excised or modified during the final stages of the review process. The United States was the first developer of nuclear power and has the most nuclear power capacity in the world, but the energy source is now growing the fastest in China. One of the sources said officials from the industry including the Nuclear Energy Institute and Constellation (CEG.O), opens new tab, a utility with the biggest U.S. reactor capacity, were invited to attend a signing ceremony Friday afternoon. Constellation and NEI did not immediately respond to requests for comment. The Trump administration has been debating four draft executive orders to boost nuclear power that sought ways to give the administration more power to approve reactors and reform the Nuclear Regulatory Commission, the body of five panelists that approves reactors. Nuclear is popular with Democrats for being virtually free in carbon emissions and with Republicans for providing reliable electricity compared to wind and solar power which can be intermittent, a problem that can be managed with battery storage. Nuclear power produces radioactive waste which for which there is no permanent repository in the United States.
