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DOE/ENDEP | RIN: 1901-AB57 | Publication ID: Fall 2023 |
Title: Recapture of Allocation of Civil Nuclear Credits | |
Abstract:
The Infrastructure Investment and Jobs Act directed the Department of Energy to establish a civil nuclear credit program to prevent premature closures of nuclear power plants by providing financial support for existing nuclear reactors projected to cease operations due to economic factors. As one component of the civil nuclear credit program, Congress directed the Department, by regulation, to provide for the recapture of any credits awarded to a nuclear reactor that, during the award period, (a) terminates operation or (b) does not operate at an annual loss in the absence of the allocation of credits to the nuclear reactor. The recapture regulation satisfies this statutory requirement by preventing a nuclear reactor from retaining credits if it does not perform its obligation to continue to operate or it does not experience operating losses for which the credits are intended as an offset. The Department will conduct rigorous due diligence to select qualified nuclear reactors for the award of credits and will require selected nuclear reactors to enter into a Credit Award and Redemption Agreement that establishes clear terms and conditions that a selected nuclear reactor must perform to receive payment of allocated credits. Consequently, the risk of the need for recapture has been substantially mitigated. Nevertheless, the recapture regulation provides additional recourse to the Department to protect appropriated funds and is required by statute. |
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Agency: Department of Energy(DOE) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: Not Yet Determined (To search for a specific CFR, visit the Code of Federal Regulations.) | |
Legal Authority: 42 U.S.C. 18753(g)(2) |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: No | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Theodore Taylor Program Manager, Grid Deployment Office Department of Energy 1000 Independence Avenue SW, Washington, DC 20585 Phone:240 477-0458 Email: theodore.taylor@hq.doe.gov |