cross-posted from: https://lemmy.world/post/10870837
"President Joe Biden’s administration on Wednesday finalized approval of $1.1 billion to help keep California’s last operating nuclear power plant running. "
Because renewable energy sources are too expensive?
Nice framing, but that’s a whopping 1.2 cents in financial aid per kWh.
Sounds like great deal actually.
Of course it’s a good deal - for the companies involved. They get to socialize the costs, while privatizing the profits.
The rest of us pay for this, and get a legacy of radioactive waste, and a delay in the inevitable transition to renewable power.
For anyone paying attention, this is just one more example of how the nuclear industry has failed economically.
If you want to talk about subsidies, let’s talk about how fossil fuels and renewables get MORE subsidies than nuclear energy. https://www.eia.gov/analysis/requests/subsidy/pdf/subsidy.pdf
Very similar for the EU (this subsidy is only used for decommissioning NPPs too).
