Global Energy News Roundup: May 25

The Forum on Energy weekly news roundup brings together a mix of global energy stories from around the web. It is published every Thursday and is available on Twitter via @forumonenergy


Trump Administration Releases FY2018 Budget Proposal

On May 23, the Trump Administration released its FY2018 budget proposal. The plan calls for a 31% budget cut for the Department of Energy’s Department of Nuclear Energy. Additionally, the proposal aims to restart the Nuclear Waste Fund fee program which would increase funding for the continued construction of the Yucca Mountain nuclear waste repository.

Source: The New York Times

Lawmakers Aim to Extend Nuclear Tax Credit 

Lawmakers are working on an early extension of a nuclear production tax credit that could benefit reactors in South Carolina and Georgia. The early extension would be combined with an attempted revival of expired clean energy tax credits. Lawmakers believe that combining the two credits will ultimately expand support for both. The lawmakers are expected to attach the bill to a larger piece of legislation, such as a tax code overhaul, which Speaker Paul Ryan (R-WI) aims to pass this calendar year.

Source: Bloomberg BNA

Switzerland Votes to Phase Out Nuclear Energy in Favor of Renewables

Last weekend Swiss voters backed a plan to phase out the use of nuclear reactors within the country and instead, replace them with renewable energy. 58.2% of the voters backed the measure and the first nuclear power plant is scheduled to close in 2019. The plan, which is known as Energy Strategy 2050, will also ban the construction of any new nuclear power plants.

Source: The Independent, The New York Times

Westinghouse President and CEO Speaks Optimistically About the Company’s Progress

In a speech to the U.S. Nuclear Energy Institute’s (NEI) Nuclear Energy Assembly this week, Westinghouse’s interim president and CEO José Gutíerrez told the audience that, while the company did file for Chapter 11 Bankruptcy, its core business is strong. The president and CEO noted that the bankruptcy filing focused on the construction of four U.S. reactors and that other construction projects of the company were making good progress.

Source: World Nuclear News