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42 U.S. Code § 18753. Civil nuclear credit program
(a) DefinitionsIn this section:
(1) Certified nuclear reactorThe term “certified nuclear reactor” means a nuclear reactor that—
(A)
competes in a competitive electricity market; and
(B)
is certified under subsection (c)(2)(A)(i) to submit a sealed bid in accordance with subsection (d).
(2) Credit
The term “credit” means a credit allocated to a certified nuclear reactor under subsection (e)(2).
(b) Establishment of programThe Secretary shall establish a civil nuclear credit program—
(1)
to evaluate nuclear reactors that are projected to cease operations due to economic factors; and
(2)
to allocate credits to certified nuclear reactors that are selected under paragraph (1)(B) of subsection (e) to receive credits under paragraph (2) of that subsection.
(c) Certification
(1) Application
(A) In generalIn order to be certified under paragraph (2)(A)(i), the owner or operator of a nuclear reactor that is projected to cease operations due to economic factors shall submit to the Secretary an application at such time, in such manner, and containing such information as the Secretary determines to be appropriate, including—
(i) information on the operating costs necessary to make the determination described in paragraph (2)(A)(ii)(I), including—
(I)
the average projected annual operating loss in dollars per megawatt-hour, inclusive of the cost of operational and market risks, expected to be incurred by the nuclear reactor over the 4-year period for which credits would be allocated;
(II)
any private or publicly available data with respect to current or projected bulk power market prices;
(III)
out-of-market revenue streams;
(IV)
operations and maintenance costs;
(V)
capital costs, including fuel; and
(VI)
operational and market risks;
(ii)
an estimate of the potential incremental air pollutants that would result if the nuclear reactor were to cease operations;
(iii)
known information on the source of produced uranium and the location where the uranium is converted, enriched, and fabricated into fuel assemblies for the nuclear reactor for the 4-year period for which credits would be allocated; and
(iv) a detailed plan to sustain operations at the conclusion of the applicable 4-year period for which credits would be allocated—
(I)
without receiving additional credits; or
(II)
with the receipt of additional credits of a lower amount than the credits allocated during that 4-year credit period.
(B) TimelineThe Secretary shall accept applications described in subparagraph (A)—
(i)
until the date that is 120 days after November 15, 2021; and
(ii)
not less frequently than every year thereafter.
(C) Payments from State programs
(i) In general
The owner or operator of a nuclear reactor that receives a payment from a State zero-emission credit, a State clean energy contract, or any other State program with respect to that nuclear reactor shall be eligible to submit an application under subparagraph (A) with respect to that nuclear reactor during any application period beginning after the 120-day period beginning on November 15, 2021.
(ii) Requirement
An application submitted by an owner or operator described in clause (i) with respect to a nuclear reactor described in that clause shall include all projected payments from State programs in determining the average projected annual operating loss described in subparagraph (A)(i)(I), unless the credits allocated to the nuclear reactor pursuant to that application will be used to reduce those payments.