Energy Policy Act of 2005
The Energy Policy Act of 2005, signed by President George W. Bush on August 8, 2005, has a number of articles related to nuclear power, and three specifically to the 2010 Program.
First, the Price-Anderson Nuclear Industries Indemnity Act was extended to cover private and DOE plants and activities licensed through 2025.
Also, the government would cover cost overruns due to regulatory delays, up to $500 million each for the first two new nuclear reactors, and half of the overruns due to such delays (up to $250 million each) for the next four reactors. Delays in construction due to vastly increased regulations were a primary cause of the high costs of some earlier plants.
Finally, "A production tax credit of 1.8 cents per kilowatt-hour for the first 6,000 megawatt-hours from new nuclear power plants for the first eight years of their operation, subject to a $125 million annual limit. The production tax credit places nuclear energy on equal footing with other sources of emission-free power, including wind and closed-loop biomass."
The Act also funds a Next Generation Nuclear Plant project at INEEL to produce both electricity and hydrogen. This plant will be a DOE project and does not fall under the 2010 Program.
Read more about this topic: Nuclear Power 2010 Program
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