⏳ Final hours! Save up to 60% OFF InvestingProCLAIM SALE

Senate panel passes bill to license advanced nuclear plants

Published 03/22/2017, 12:07 PM
Updated 03/22/2017, 12:10 PM
© Reuters.  Senate panel passes bill to license advanced nuclear plants
NG
-

WASHINGTON (Reuters) - A U.S. Senate committee easily passed a bill on Wednesday to enable the nuclear regulator to license advanced nuclear reactors that backers say are safer than conventional plants and can help deal with a growing waste problem.

The Nuclear Energy Innovation and Modernization Act requires the Nuclear Regulatory Commission to develop a regulatory framework to enable the licensing of advanced nuclear reactors that could come into development in 10 or 15 years.

The bill passed 18-3 in the Environment and Public Works Committee.

The committee's chairman, Republican Senator James Inhofe, said the bill is "critical for the revitalization and improvement of our nation's nuclear energy industry."

The bill has brought together some Republicans eager to prevent the United States from falling behind China and Russia in nuclear innovation and Democrats who want to foster technologies that do not emit gases blamed for climate change. But the legislation faces a cloudy future.

The nuclear industry faces competition from cheap natural gas prices and the growing wind and solar power industries. It was uncertain whether the full Senate would debate the bill or if the measure would be absorbed into broader energy legislation.

Democratic Senator Sheldon Whitehouse said the bill would help the United States keep its lead in innovation while finding possible solutions to the waste now kept in pools and in casks at conventional nuclear plant sites.

"If we can get there, we will have done this country and the world a vital public service," Whitehouse said of the potential for the advanced reactors to reduce the waste problem.

A fellow Democrat, Senator Kamala Harris of California - one of several lawmakers who want to see the country find comprehensive, permanent solutions to existing nuclear waste from conventional nuclear plants before moving ahead with new reactors - voted against the bill.

"Safely disposing of any radioactive material is a key priority of mine to ensure that we leave our environment pristine and unharmed for future generations," Harris said, adding that she is willing to help improve the legislation.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.