Nuclear Power

The U.S. Energy secretary Chris Wright stated on Monday that the Department of Energy Loan Programs Office would be used most for nuclear power plants. LPO offers hundreds of billions in funding aid including loan guarantees to projects that are unable to obtain bank loans. During the first term of President Donald Trump in the White House he only used the LPO to finance reactors at Vogtle Nuclear Power Plant in Georgia. Wright said at a conference for the American Nuclear Society that "by far, the most important use of these dollars will be to build the first nuclear power...

Duke Energy, the U.S. utility, beat Wall Street's estimates for revenue and profit in its third quarter on Friday. This was due to higher electricity rates, strong demand and more contracts signed by Duke Energy with energy-intensive data centres. According to the U.S. Energy Information Administration, the technology industry's AI-driven data centers combined with the accelerating electrification in homes and businesses will push U.S. electricity demand to record levels by 2025 and 2026. Duke, which is a company that primarily operates in North Carolina, has signed energy service agreements worth about three gigawatts with data centers in this year. Deals...

Duke Energy, a utility company, beat Wall Street expectations for revenue and profit in the third quarter on Friday. This was due to higher electricity rates and high power demand. Electricity costs will rise as data centers consume more power in the wake of an industrial electrification wave and manufacturing growth. According to the U.S. Energy Information Administration, a surge in AI- and cryptocurrency-based data centers combined with accelerating electrification in homes and businesses is expected to push U.S. energy demand to record levels by 2025 and 2026. Duke will add 13 gigawatts in energy capacity in the next five-year...

Duke Energy, a utility company, beat Wall Street expectations for revenue and profit in the third quarter on Friday. This was due to higher electricity rates and high power demand. Electricity costs will rise as data centers consume more power in the wake of an industrial electrification wave and a manufacturing boom. According to the U.S. Energy Information Administration, a surge in AI- and cryptocurrency-based data centers combined with the accelerating electricification of homes, businesses and other buildings is expected to drive U.S. electricity demand to record levels by 2025 and 2026. Duke Energy is looking at adding large nuclear...

Vistra Corp forecast adjusted core profit for 2026 higher than the outlook it gave this year. This reflects its confidence in its expanding power generation portfolio, and its strong demand throughout U.S. market. As it expands its gas-fired energy and clean energy capacities, the Texas-based electricity company expects an adjusted EBITDA of between $6,8 billion and $7.6billion in 2026, up from a forecast range for 2025 of $5.7 to $5.9billion. Vistra's Board also approved an extra $1 billion worth of share buybacks. According to the U.S. Energy Information Administration, a surge in AI- and cryptocurrency-based data centers combined with the...

Donald Trump, the U.S. president, will host five leaders from Central Asian countries at the White House this Thursday. The U.S. is seeking to gain influence in the region that has been dominated for decades by Russia but increasingly courted and influenced by China. The talks are taking place as the competition for Central Asia’s mineral resources intensifies. Western nations want to diversify their supply chains and move away from Moscow or Beijing. The U.S., in particular, is seeking new partnerships to secure vital minerals, energy supplies and overland trading routes that circumvent geopolitical competitors. The C5+1 platform, which was...

The Trump administration announced a huge nuclear deal earlier this week that provides an incentive of multi-billion dollars for the U.S. Government to issue permits for new Westinghouse Reactors. Critics say the structure is unprecedented and poses safety and environmental risks. The U.S. Government will help to secure approvals and permits for the $80 billion worth Westinghouse nuclear reactors. The plan gives the U.S. Government a way to get a share of 20% future profits, and even a possible 20% stake in the firm if it's value exceeds $30 billion by the year 2029. The deal represents one of the...

Analysts at Wood Mackenzie say that U.S. nuclear energy generation will increase as data centers and other surges in demand strain grids throughout the country. A wave of tech firms have also signed deals to use the zero-carbon source. The growing interest in this sector is evident by the flurry announcements of nuclear energy investments. Most recently, the U.S. Government announced an $80 billion partnership with Westinghouse Electric. The power industry has to deal with the increasing demand for electricity from data centers that are energy-intensive, as well as rising temperatures and electrification. Technology companies have become energy providers to...

NextEra Energy, a U.S. utility company, and Alphabet’s Google signed a power supply agreement that would help restart Duane Arnold Nuclear Plant in Iowa. After years of stagnation the nuclear industry is experiencing a renaissance. This is due to a massive surge in demand for power as Big Tech searches for cleaner energy sources to power its data centers. After the bell, NextEra Energy shares rose by over 1%. They now stand at $87.24. After 45 years of operation, the Duane Arnold Energy Center with a capacity of 600 megawatts was shut down in 2020. The U.S. has not restarted...

Energy Secretary Chris Wright, and AMD CEO Lisa Su announced that the U.S. formed a partnership worth $1 billion with Advanced Micro Devices in order to build two supercomputers. These computers will be used to tackle scientific problems such as cancer treatment, national security or nuclear power. The U.S. builds the two machines in order to have enough supercomputers for the country to run increasingly complicated experiments, which require a huge amount of data crunching power. The machines will accelerate the scientific discovery process in the areas that the U.S. focuses on. Energy Secretary Wright stated that the systems will...

Santee Cooper, a public utility company in South Carolina, said Friday that it had approved a letter from Brookfield Asset Management indicating its intention to resume talks about the construction of two AP1000 reactors. The two companies will begin a six week feasibility period, during which they will choose a project manager and evaluate construction providers. They will also engage potential buyers of the carbon-free electricity that the reactors can generate. The project was cancelled in July 2017, after Santee Cooper and South Carolina Electric and Gas Co. (SCE&G) spent $9 billion on its development. Peter McCoy said that Brookfield...

Hungarian Foreign Ministry Peter Szijjarto told state news channel M1 on Wednesday that Hungary would start discussions on buying nuclear fuels from the United States in order to diversify its supplies. Szijjarto has been in Washington, D.C. since Tuesday. He said that Hungary needed more nuclear fuel for its expanding nuclear plant to meet its energy needs. It would continue buying nuclear fuels from Russia. Szijjarto said to state broadcaster M1 that "alongside the existing Russian suppliers relations, we are beginning consultations on purchasing nuclear fuel from the United States" in order to be capable of serving our increased nuclear...

The Russian operators of the Zaporizhzhia Nuclear Power Plant in Ukraine have confirmed that a second external powerline has been restored. The plant, Europe's biggest with six reactors, was taken by Russian troops during the first few weeks of the invasion of Ukraine in February 2022. Russia and Ukraine accuse each of other's military actions which compromise nuclear safety. The plant does not produce electricity at the moment, but it needs external power in order to cool down the nuclear fuels and prevent the possibility of a meltdown. In a statement cited by Russian news agencies the station's Russian operators...

Donald Trump, the U.S. president, will host five leaders from Central Asian countries at the White House this Thursday. The U.S. is seeking to gain influence in the region that has been dominated for decades by Russia but increasingly courted and influenced by China. The talks are taking place as the competition for Central Asia’s mineral resources intensifies. Western nations want to diversify their supply chains and move away from Moscow or Beijing. The U.S., in particular, is seeking new partnerships to secure vital minerals, energy supplies and overland trading routes that circumvent geopolitical competitors. The C5+1 platform, which was...

The Ukrainian Foreign Ministry condemned on Friday what they called Russian attacks on critical substations that supply external power to Ukraine's nuclear reactors. A ministry statement released late Friday stated that Russia had carried out "targeted attacks" on these substations. It added that "Deliberate attacks on civilian energy installations which directly affect the safe operations of nuclear facilities bear the hallmarks and are a grave breach of international humanitarian laws." The ministry referred back to a Thursday statement by the U.N. nuclear monitor, the International Atomic Energy Agency. It reported that military activity had "caused damage to critical substations for...

The Zaporizhzhia Nuclear Power Station in Ukraine has been reconnected to external power by engineers who repaired a damaged line of high voltage, the station's Russian-installed managers announced on Thursday. In the first weeks after the Ukraine war, Russian troops seized the plant, Europe's biggest with six reactors. The plant currently does not produce electricity but it needs external power in order to cool down the nuclear fuel, avoiding the possibility of a meltdown. The International Atomic Energy Agency, U.N. nuclear watchdog, has prioritized the safety of this site, given the nearby fighting. Russia and Ukraine have often accused each...

Officials said that a new Russian attack in the border region of Chernihiv, Ukraine, on Monday knocked power out to large areas of the northern part of the country. This included the main town near the decommissioned Chornobyl Nuclear Power Station. Chernihivoblenergo (the local power company) in the area said that the latest attack targeted an energy site but refused to identify it. Yuri Fomichev said that a part of Slavutych in Kyiv Region, located 45 km (28miles) west of Chernobyl, had lost electricity in the incident. The water supply system of the town was switched to reserve power, and...

The Kremlin announced on Monday that Russia is ready to expand its cooperation with Iran across all fields. Moscow maintains close ties with Tehran. It has condemned the U.S.-Israeli strikes against Iranian nuclear sites in early this year, which were conducted with the stated goal of preventing Tehran acquiring a nuke bomb. Iran denies building a nuclear weapon. Dmitry Peskov, the Kremlin's spokesman, was asked by reporters to comment on how Russia viewed events surrounding Iran's nuclear program and whether Moscow would strengthen ties with Tehran. "Russia is ready to expand its cooperation with Iran across all fields." "Iran is...

The U.N. nuclear watchdog announced on Thursday that the process of restoring external power had begun at the Russian-owned Zaporizhzhia Nuclear Power Plant in southeast Ukraine. This plant has been cut off from electricity for over two weeks. Rafael Grossi said that the process began after consulting with the authorities of Ukraine and Russia who are blaming each other for the destruction of external lines. In the first few weeks of the Kremlin invasion of Ukraine in February 2022, Russian forces captured the largest nuclear plant in Europe with six reactors. Although the plant does not produce electricity, both sides...

The U.N. nuclear watchdog's head said that he is discussing with Russia and Ukraine proposals to restore power off-site to the Russian Zaporizhzhia Nuclear Power Plant, and to reduce the risk of meltdown. In the first weeks after Moscow invaded Ukraine, Russian forces seized Europe's biggest nuclear plant with six reactors. Since September 23, the facility has not been able to access external power. This is the 10th time that the line has failed. The plant does not produce electricity but the fuel in its nuclear reactors are cooled using emergency diesel generators. Rafael Grossi said that the external line...

Rafael Grossi, chief of the U.N. Atomic Watchdog, said that Zaporizhzhia Nuclear Power Plant has been without power offsite for six days. Since the beginning of the conflict, the plant in southeast Ukraine was under Russian control. Both sides have accused each other of shelling the facility and compromising nuclear safety. Grossi, the director general of International Atomic Energy Agency (IAEA), wrote on X about his meeting with Ukrainian Foreign Minister Andrii Sbiha and their exchange of views regarding the plant. He also said that the IAEA is working to restore power. UKRAINE WANT TEMPORARY IAEA STEP-IN FOR PLANT Oleh...

Belarus has proposed to build a nuclear plant in the eastern part of the country, which could provide electricity to parts of Ukraine controlled by Russia. President Alexander Lukashenko announced this on Friday. Lukashenko brought up the idea with Russian President Vladimir Putin during Kremlin discussions in Moscow. Lukashenko used the same language as Moscow to describe the territory of Ukraine that was captured by Russia. The offer highlighted the close relationship between Putin and Lukashenko even though U.S. president Donald Trump pursues an incentive-based strategy to encourage the Belarusian leaders to release political prisoners and improve relationships with the...

Ilya Rebrov, the deputy director general of Rosatom's Chinese division, was quoted on Thursday as saying that Rosatom had made significant progress in placing bonds on the Chinese market. Interfax reported that Rebrov stated that a placement would take months or even weeks. He said that despite the "pressure" Russian industry was under, Rosatom managed to get a rating by a Chinese credit rating agency. It also took decisions which had brought it closer to its goal of being able raise debts in China. Atomenergoprom, Rosatom's power unit, received a "AAA" credit rating in April from China's Dagong Global Capital...

The International Atomic Energy Agency reported on Tuesday that its team, based at the Russian-controlled Zaporizhzhia Nuclear Power Plant in the southeast Ukraine, heard shelling near the plant and saw black smoke rising out of three locations nearby. IAEA released a statement saying that the team of the U.N. nuclear watchdog had been informed that several artillery shells were fired in an area 400 meters (437 yards), away from its offsite diesel fuel storage facility. The incident, which did not result in any injuries or damage to equipment, once again highlighted the dangers that nuclear security and safety face. IAEA...