By Editors of Power Engineering
A representative of the Carlyle Group has said nuclear power in the United States could become a thing of the past if utilities don’t get more government support for the power source.
Bob Mancini, co-head of Carlyle Group’s power unit, said at a conference such a subsidy could come in the form of a federal carbon tax that would reward nuclear plants for zero-emissions power, Bloomberg reported.
Companies including Exelon and Entergy have made plans to shut down nuclear reactors across the country as nuclear plant operators are pressed by low natural gas prices, weakening electricity demand, rising nuclear operating costs and increasing regulation.
Additionally, the cost of building a nuclear plant could be more than five-times that of a gas-fired plant, Bloomberg reported earlier this month.
China, India and Russia are among the few places where nuclear plants are being built, Mancini said.
Mancini said the closure of nuclear reactors in New York could eviscerate emissions reductions and increase price volatility.