And Now for Some Positive Energy Developments

By September 27, 2007Energy

The nuclear renaissance blooms. From the Houston Business Journal, Tuesday:

Two license applications to build nuclear power units have been filed in the United States for the first time in almost three decades. If approved, the units will be built in Texas.

NRG Energy Inc. (NYSE: NRG) and Co., a Texas-based operating company in which NRG has a 44 percent stake, propose to power more than 2 million homes with no greenhouse gas emissions.

The South Texas Project’s website is here and NRG’s news release can be found here.

Eric McErlain of NEI attended the Capitol Hill news conference announcing the filing and has a report complete with video.

The American Spectator carries an article by William Tucker, “The Nuclear Renaissance Begins.” Interesting point:

NRG’s choice of Texas is also a bit of a surprise. For years, industry analysts have predicted the first new reactors would be built in the South, where the Progressive tradition continues of regulating utilities while guaranteeing them a return on their investment. The argument was that nuclear would need this regulatory protection in order to attract money from Wall Street. In Texas, NRG will be entering a freewheeling deregulated market where the South Texas Project will have to stand and fall on its own. “We’re confident these projects can be built on schedule and on budget,” says Crane. “With natural gas prices rising and coal being pressured to reduce its carbon emissions, nuclear is going to be competitive.”

And who gets credit for coining the term, “nuclear renaissance?” It’s certainly popular, if proleptic.

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