Trump and U.S. Nuclear Power Find Common Ground in Jobs Push
Tuesday, February 7, 2017 at 06:10PM
Uranium Stocks

Nuclear power providers, battered by low prices and competition from cheap natural gas, say they can help President Donald Trump fulfill a campaign promise to put more people to work

Trump will throw more support behind nuclear power than the Obama administration, which gave a higher priority to wind and solar power, Maria Korsnick, president and chief executive officer of the Nuclear Energy Institute, said in an interview Tuesday at Bloomberg headquarters in New York. The industry’s goal of expanding the number of U.S. nuclear reactors dovetails into Trump’s campaign promise to add jobs and boost investment in infrastructure.

Profits for U.S. nuclear operators are falling with the collapse of wholesale power prices amid a boom in gas production and rising supplies of renewables. Five nuclear plants will close by 2025, bringing the total number of retirements to 10 since 2009 when the shale boom was just getting underway. A typical nuclear generating station employs 400 to 700 people.

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