Federal investment in nuclear power urged
WASHINGTON, Apr 27, 2005 -- United Press International
A utility executive Tuesday urged Congress to approve an investment in nuclear power as a means of helping the industry.
Wallace told the senators a strong federal role would serve as a buffer against what he called "regulatory failure," such as court challenges and construction delays. He said while the nuclear industry has pledged to invest $650 million in the Nuclear Power 2010 project, there remains a lot of uncertainty over potentially costly stumbling bocks involving licensing and other regulatory matters.
The administration considers nuclear power to be a key source of low-cost and low-emission electricity in the years to come.