Trump fast-tracks nuclear energy development directive
TL/DR –
Donald Trump has asked the US government to expedite the construction of nuclear reactors and revise regulation which he deems overly cautious. The president aims to quadruple US atomic energy capacity by 2050 by signing four executive orders asking the Department of Energy to begin construction of ten large reactors by 2030, finance power upgrades to existing reactors, and facilitate the development of reactors on federal lands. Critics of the nuclear industry have expressed concerns that Trump’s actions could undermine public trust in the sector by weakening the Nuclear Regulatory Commission’s oversight.
Trump Accelerates Nuclear Reactor Construction
President Trump has directed the US government to expedite the construction of nuclear reactors and to reform its risk-averse regulatory culture in an effort to multiply the nation’s atomic energy capacity by four by 2050.
The president signed four executive orders on Friday, tasking the Department of Energy to expedite the construction of 10 large reactors by 2030 and increase funding for power upgrades to existing reactors.
The White House accuses the Nuclear Regulatory Commission of having an overly risk-averse culture, which mandates that nuclear facilities emit as few emissions as possible, including levels below those naturally occurring.
Among the orders’ provisions are an 18-month deadline for NRC approval of new reactors and measures to boost US uranium and nuclear fuel capacity. The orders also urge the energy and defense departments to facilitate reactor development on federal lands.
The orders are expected to instigate an “American nuclear renaissance”, according to White House science and technology policy director Michael Kratsios.
Industry proponents have welcomed the administration’s support for the nuclear sector, which has experienced lengthy delays and cost overruns in recent decades. However, critics warn that the aggressive reform of the NRC could compromise nuclear safety and erode public trust in the sector.
Executive orders are a potential opportunity to “bring regulatory regimes back to what their intents were,” according to Jacob DeWitte, CEO of nuclear power start-up Oklo.
There are concerns within the sector whether these orders are far-reaching enough, considering the high cost and capital intensity of the industry, and the tariffs and uncertain government support it faces.
Following the announcement, shares in small modular reactor developer Oklo rose by 23 percent. Other nuclear-related companies, including NuScale, Centrus Energy, and Cameco, also saw significant increases in their share prices.
However, utility-scale nuclear companies like Constellation Energy and Dominion Energy experienced more modest share price hikes, at 2.1 percent and 1.1 percent respectively.
—
Read More US Economic News