US Energy Secretary Chu: Loan-Guarantee Program To Be Sped Up - 0 views
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Energy Net on 18 Jan 10"U.S. Energy Secretary Steven Chu said Friday that the Obama administration hopes to issue nuclear loan guarantees "soon" as part of a broader plan to speed up loan guarantees, but that the government is running into problems finalizing the subsidies. "We're going to be accelerating our loan-guarantee process even more," Chu told reporters in a briefing to discuss the administration's priorities for 2010. Chu said that nuclear loan guarantees would come "soon," but that getting them finalized was "more complicated than I thought." Constellation Energy Group Inc. (CEG), NRG Energy Inc. (NRG), Scana Corp. ( SCG) and Southern Co. (SO) are expected to receive the first guarantees for nuclear projects. Government support is viewed as essential because of high costs, lengthy timetables and a history of cost overruns in the construction of nuclear reactors."