'This more than $10 billion in ratepayer and taxpayer robbery would merely fund an insanely high-risk game of radioactive Russian roulette on the Lake Michigan shoreline,' said Kevin Kamps of BeyondNuclear
earlier this month:"Holtec is taking a different route with its second attempt at funding. Rather than applying through the CNC program, the company applied for funds from the U.S. Department of Energy loan office."
"We understand that Holtec... may be applying to DOE for a subsidized loan under a different law, with the intention of using funds from the IIJA to pay off the loan," wrote Lodge."We question whether such a combined transaction would be lawful under the IIJA. Even if it is, IIJA credits may not be used to support Palisades. Congress intended the IIJA to support only currently operating commercial nuclear reactors that face termination of operations for economic reasons.
Most importantly, PNP is unable"to operate safely due to a litany of chronic and acute problems associated with age-related degradation and neglected maintenance on safety-significant systems, structures, and components," the coalition argued in its statement."This includes the worst neutron-embrittled reactor pressure vessel in the country and perhaps the world, at risk of pressurized thermal shock through-wall fracture, which would lead to reactor core meltdown.
Holtec has"applied to DOE for a billion dollar federal taxpayer-backed nuclear loan guarantee under the Inflation Reduction Act, which it would use to promote the reactor restart scheme, hoping to pay it back over time with the CNC program bailout," said the coalition. In addition, Holtec is"seeking a more than billion dollar subsidy from the state of Michigan, as well as yet another lucrative, above-market rate power purchase agreement with an unnamed utility company in the area.
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