Update on Federal Spending for Nuclear
Although the omnibus appropriations bill that passed last week included nuclear programs, it didn't include a provision to extend tax credits for nuclear plants. These credits have become increasingly important to the completion of the AP 1000 projects at Vogtle Electric Generating Plant and V.C. Summer Nuclear Generating Station in light of the recent Westinghouse bankruptcy filing.
Senators Lindsey Graham and Tim Scott (R-SC) along with Representative Tom Rice (R-SC) have already introduced legislation in the House that would allow the utilities' non-profit partners "to utilize the full amount of the nuclear PTC (Preserve Tax Credit) in these construction projects...[and] removes the requirement that new nuclear facilities be placed into service by the end of 2020 in order to receive the tax credit."