Douglas P. Nelson, Business Manager
EXTENDING A LIFELINE TO NUCLEAR PLANTS
The Biden administration announced a proposal to extend up to $1 billion in tax credits to existing nuclear plants, advancing a priority the IBEW has long championed as a win both for good jobs and a cleaner environment.The Production Tax Credit expansion is part of the administration's multitrillion-dollar plan to rebuild American manufacturing, infrastructure and energy sectors. PTCs have supported the construction of carbon-free wind, solar, storage and nuclear generation for years, but they have never been extended to existing nuclear plants. Over the last decade, about 10 nuclear reactors have shut down, often because competitive energy markets favor intermittent producers like wind and solar and carbon-emitting gas peaker plants. "We are not going to be able to achieve our climate goals if nuclear power plants shut down,” Energy Secretary Jennifer Granholm said. “We have to find ways to keep them operating. "The proposal also includes a requirement that the credits would be paired with "strong labor standards, benefiting employers that provide good-paying and good-quality jobs."