Constellation Energy Group submits first application for new US nuclear plant

The Washington Post : The first application in 30 years to build a new U.S. nuclear power plant has been filed with the Nuclear Regulatory Commission says the Washington Post . The new 1,600-megawatt reactor would be built at the Calvert Cliffs site in Lusby, MD, which is home to two existing reactors owned by Baltimore-based Constellation Energy Group. The licensing process will take up to 2.5 years and may cost as much as $100 million before Constellation starts construction. Up to 28 new reactors are currently in the process of evaluated by electricity producers, each costing billions of dollars to build. The New York TImes reports that the money for construction may be available to the nuclear industry through easy-to-obtain government loans. The money is available because of a one sentence addition that was quietly added to an energy bill passing through the Senate. The Bush Adminstration had originally capped government loans to the industry at $4 billion, the cost of one new plant. The new legisation potentially makes $100 billion available.