Manchin’s Inflation Reduction Act To Help Restart Dormant Nuclear Plants, Power American Innovation

Manchin's Inflation Reduction Act To Help Restart Dormant Nuclear Plants, Power American Innovation

Charleston, WV -Last week, Senator Joe Manchin (I-WV), Chairman of the Senate Committee on Energy and Natural Resources, applauded a tentative deal between Constellation Energy and Microsoft to reopen a Three Mile Island nuclear unit that was shuttered five years ago for economic reasons near Harrisburg, Pennsylvania. The deal is driven by the signing of a 20-year power purchase agreement between the companies, and the facility would be eligible for the Clean Energy Tax Credits included in Chairman Manchin's Inflation Reduction Act. Today's announcement follows the U.S. Department of Energy announcing in March a conditional commitment of up to $1.52 billion for a loan guarantee, also under the Inflation Reduction Act, to repower another nuclear power plant, the Holtec Palisades facility in Covert Township, Michigan.

"To ensure our nation's power grid can handle the increasing energy demands of AI and manufacturing, we must utilize all our available resources, including nuclear power," said Chairman Manchin. "I am glad to see Constellation and Microsoft working to restart the Three Mile Island facility and bring much needed reliable, 24/7, clean energy onto the grid to protect our energy security. Already, the Inflation Reduction Act is helping to repower two nuclear power plants that our grid clearly needs, and I am so proud to see energy and manufacturing projects around the country using this law as we intended to strengthen the energy security and manufacturing base of our country."

To read more about the benefits of the Inflation Reduction Act, click here.