The promises and perils of nuclear power

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Mar 02, 2023 View in browser   By Arianna Skibell Presented by Steam rises from the Grafenrheinfeld nuclear power plant in Germany. | Sean Gallup/Getty Images Global interest in nuclear power is growing thanks to the push to stem the climate crisis. But while nuclear plants can be a source of reliable, carbon-free energy, they come with some big downsides. They’re costly to build and operate, there are challenges in disposing of their radioactive waste, and if nuclear material falls into the wrong hands, the consequences can be deadly. President Joe Biden is trying to mitigate the risks while reaping the low-carbon benefits — though some supporters of his climate policies are skeptical. On the economic front: The administration today announced it will provide $1.2 billion in aid to help economically distressed nuclear power plants in the U.S. continue operating. This round of funding will also support reopening plants that have recently shuttered, Reuters reported. On the security front: Biden inked a new strategy for stopping bad actors, both in the U.S. and abroad, from using nuclear materials to build deadly chemical weapons. That includes reducing the risks of a new type of nuclear power plant — the small modular reactor — which is generating bipartisan appeal in the U.S. and drawing potential customers overseas. U.S. regulators certified one small modular design last month for domestic use. Twelve countries across Europe and the Middle East have signed agreements to deploy the new technology. After the meltdown of Japan’s Fukushima nuclear power plant in 2011, interest in big nuclear facilities tanked. Small modular reactors are cheaper and more manageable to operate — but they could also produce “usable material” for terrorist groups, a senior administration official told POLITICO’s Paul McLeary and other reporters today. “We have to anticipate that and prepare and prevent that becoming a risk,” the official said. How exactly the U.S. aims to prevent international nuclear, chemical and biological threats is classified information. But the administration says it is establishing the “first comprehensive policy” for securing radioactive materials here and abroad. Not everyone is convinced, however. Edwin Lyman, the director of nuclear power safety at the Union of Concerned Scientists, said it’s going to take a lot more than advances in safeguards and security technologies to lessen dangers from the new breed of reactors. That idea is “overly optimistic and ignores the limitations of such systems when deployed in the real world,” he said. The big picture: While Biden has said nuclear power is a critical element in greening the electric grid to combat climate change, the industry is being battered by rising security and maintenance costs, plus competition from wind and solar power and inexpensive natural gas. The nation had 104 operating nuclear reactors in 2012. Today, there are 92.   It's Thursday — thank you for tuning in to POLITICO's Power Switch. I'm your host, Arianna Skibell. Power Switch is brought to you by the journalists behind E&E News and POLITICO Energy. Send your tips, comments, questions to askibell@eenews.net. A message from bp: Through our acquisition of Archaea energy, bp owns operating facilities in over 20 states that process methane captured from decomposing waste to produce renewable natural gas (RNG) for the US transportation sector. See how we are advocating for good policy to help us go further, faster.   Listen to today’s POLITICO Energy podcast Today in POLITICO Energy’s podcast: Josh Siegel breaks down the GOP's energy project permitting bill, and why they will (once again) face an uphill legislative battle. electric future Claudine Hellmuth/POLITICO (graphic); iStock (images) How big is too big? Even though offshore wind is just getting going in the United States, the turbines that will be used are changing dramatically — growing bigger and bigger, writes Heather Richards. Bigger turbines make more electricity and lower costs for developers. But the global race to go big is changing the standard size of offshore wind turbines, which could create mayhem all the way down the supply chain and threaten the pace of development.   A message from bp:   Power Centers A view of the Tule Springs Fossil Beds National Monument near Las Vegas. | Matthew Dillon/Flickr Past, meet present The federal review of a key power line to connect a huge amount of solar energy in Nevada to millions of households has been delayed by months over concerns it could disrupt thousands of ice age fossils, writes Scott Streater. The 470-mile-long Greenlink West transmission line would stretch along Nevada’s western boundary, from Las Vegas north to Reno, carrying as much as 4,000 megawatts of electricity from dozens of proposed solar projects in the state. Veto alert Biden faces his first veto prospect after the Senate voted Wednesday to nullify an administration rule that would enable retirement funds to consider environmental, social and governance factors when considering investments, writes Jeremy Dillon. The bill, which required only a simple majority to pass, is likely to embolden Republican attempts to roll back more Biden administration environmental regulations. Lawmakers are unlikely to override a veto, which would require a two-thirds majority in both chambers. Subsidy talks European Commission President Ursula von der Leyen will travel to Washington next week to speak with Biden about the Inflation Reduction Act and broader security issues, writes a team of POLITICO reporters. Europe and the U.S. have been at odds for months over Biden’s landmark green subsidies plan, which Brussels fears will drain the continent of investment and clean technology. In Other News Toxic algae alert: Was Florida red tide made worse by Hurricane Ian? Here’s what we know. Extreme heat: New research makes clear the link between climate change and prison mortality.   DOWNLOAD THE POLITICO MOBILE APP: Stay up to speed with the newly updated POLITICO mobile app, featuring timely political news, insights and analysis from the best journalists in the business. The sleek and navigable design offers a convenient way to access POLITICO's scoops and groundbreaking reporting. Don’t miss out on the app you can rely on for the news you need, reimagined. DOWNLOAD FOR iOS– DOWNLOAD FOR ANDROID.     Subscriber Zone A showcase of some of our best subscriber content. A crane flies over a green algae bloom on Lake Okeechobee in Port Mayaca, Fla. | Joe Raedle/Getty Images Algal blooms are growing bigger and more frequent worldwide as ocean temperatures rise and circulation patterns change. The Consumer Product Safety Commission is advancing an investigation of health hazards linked to gas stoves, suggesting an openness to regulating the widely used appliance. Operators of the last nuclear power plant in California received federal approval to keep its two reactors in operation as the state phases out oil and gas. That's it for today, folks! Thanks for reading.   A message from bp: We are proud of our 150-year history in the United States, and we’re committed to America for the long-term as we transform our company in line with our ambition to reach net zero emissions by 2050 or sooner, and help the world get there too. bp is a top energy investor in the US: · Over $130 billion invested here since 2005 · 245,000 jobs supported across the country · $60 billion added by our businesses to the national economy in 2021 · Over $100 million donated to community programs over the past five years · Working to deliver the energy America needs today while developing lower carbon alternatives See how we are advocating for good policy to help us go further, faster.     LISTEN TO POLITICO'S ENERGY PODCAST: Check out our daily five-minute brief on the latest energy and environmental politics and policy news. Don't miss out on the must-know stories, candid insights, and analysis from POLITICO's energy team. 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