Draft Legislation Addressing Nuclear, Clean Coal, Renewables Unveiled

Greenwire has obtained a draft copy of legislation developed by Sen. Lindsey Graham, R-S.C., to promote nuclear power, clean coal and renewables, and the legislative outline of a plan by Sen. Joseph I. Lieberman, ID-Conn., to expand the nuclear loan guarantee program by $100 million. The Graham measure would require an increasing amount of energy to be produced from "clean energy" sources until it hit 25 percent in 2025.

Wrote Greenwire: "Power sources that would fit into the program include new nuclear capacity built after the bill became law, as well as coal-fired plants that capture and permanently sequester 65 percent of the greenhouse gases produced by the facility. Graham spokesman Kevin Bishop said yesterday that the senator started working on the proposal before teaming up last fall with Democrat John Kerry of Massachusetts and independent Joe Lieberman of Connecticut on a more sweeping energy and climate bill. Both Kerry and Lieberman have reviewed Graham's draft bill, Bishop said, but they have not agreed to include it in the comprehensive package--details of which are expected to remain under wraps until at least next month."

An environmental critic noted that two parts of the Graham outline presented some problems: The loan guarantees for the new nuclear power plants and the addition of carbon capture and storage facilities. Wrote Greenwire: "The former, he said, could create a 'wide open slush fund for loan guarantees' that pushes other renewables below their business as usual projections--even if coupled with a mandatory cap on greenhouse gases."

According to Greenwire's document, the Lieberman-led nuclear bill included a $100 billion boost for the federal loan guarantee program, as well as additional regulatory risk insurance, accelerated depreciation for nuclear plants, investment tax credits similar to renewable energy and language to expedite the Nuclear Regulatory Commission's licensing process.