Skip to main content

Industry Eager for Renewal of U.S.-Taiwan Nuclear Cooperation Pact

By
Richard Myers
The following post was submitted by Richard Myers, NEI’s vice president of policy development, planning and supplier programs. It addresses the bilateral nuclear cooperation agreement with Taiwan submitted to Congress for review on Jan. 7. The agreement was signed by the American Institute in Taiwan and the Taipei Economic and Cultural Representative Office. The agreement will be reviewed by Congress for 90 days of continuous session before entering into force. 

 The U.S. nuclear energy industry thanks the Obama Administration for concluding negotiation of an agreement to continue nuclear energy cooperation between the United States and Taiwan. The industry is eager for the renewal of the agreement for cooperation with this longstanding strategic partner.

 U.S. exports of nuclear technology, equipment and services to Taiwan support thousands of U.S. jobs. Two General Electric nuclear energy facilities are under construction in Taiwan at Lungmen, and other U.S. companies provide equipment, services and fuel to Taiwan’s six operating nuclear power plants. Renewal of the bilateral cooperation agreement will result in up to $10 billion of U.S. exports. This could create or sustain up to 50,000 high-paying U.S. jobs, according to the Department of Commerce.

 This agreement maintains U.S. leadership and influence in the critical issues of global nuclear safety, security and nonproliferation. It also continues the pragmatic, bipartisan U.S. policy on nuclear energy cooperation agreements under Section 123 of the Atomic Energy Act.

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

Wednesday Update

By
From NEI’s Japan micro-site: NRC, Industry Concur on Many Post-Fukushima Actions Industry/Regulatory/Political Issues • There is a “great deal of alignment” between the U.S. Nuclear Regulatory Commission and the industry on initial steps to take at America’s nuclear energy facilities in response to the nuclear accident in Japan, Charles Pardee, the chief operating officer of Exelon Generation Co., said at an agency briefing today. The briefing gave stakeholders an opportunity to discuss staff recommendations for near-term actions the agency may take at U.S. facilities. PowerPoint slides from the meeting are on the NRC website. • The International Atomic Energy Agency board has approved a plan that calls for inspectors to evaluate reactor safety at nuclear energy facilities every three years. Governments may opt out of having their country’s facilities inspected. Also approved were plans to maintain a rapid response team of experts ready to assist facility operators recoverin...
Post a Comment
Read more

Fluor Invests in NuScale

By
You know, it’s kind of sad that no one is willing to invest in nuclear energy anymore. Wait, what? NuScale Power celebrated the news of its company-saving $30 million investment from Fluor Corp. Thursday morning with a press conference in Washington, D.C. Fluor is a design, engineering and construction company involved with some 20 plants in the 70s and 80s, but it has not held interest in a nuclear energy company until now. Fluor, which has deep roots in the nuclear industry, is betting big on small-scale nuclear energy with its NuScale investment. "It's become a serious contender in the last decade or so," John Hopkins, [Fluor’s group president in charge of new ventures], said. And that brings us to NuScale, which had run into some dark days – maybe not as dark as, say, Solyndra, but dire enough : Earlier this year, the Securities Exchange Commission filed an action against NuScale's lead investor, The Michael Kenwood Group. The firm "misap...
1 comment
Read more

Nuclear Utility Moves Up in Credit Ratings, Bank is "Comfortable with Nuclear Strategy"

By
Some positive signs that nuclear utilities can continue to receive positive ratings even while they finance new nuclear plants for the first time in decades: Wells Fargo upgrades SCANA to Outperform from Market Perform Wells analyst says, "YTD, SCG shares have underperformed the Regulated Electrics (total return +2% vs. +9%). Shares trade at 11.3X our 10E EPS, a modest discount to the peer group median of 11.8X. We view the valuation as attractive given a comparatively constructive regulatory environment and potential for above-average long-term EPS growth prospects ... Comfortable with Nuclear Strategy. SCG plans to participate in the development of two regulated nuclear units at a cost of $6.3B, raising legitimate concerns regarding financing and construction. We have carefully considered the risks and are comfortable with SCG’s strategy based on a highly constructive political & regulatory environment, manageable financing needs stretched out over 10 years, strong partners...
Post a Comment
Read more