Missouri Needs Nuclear Site Permit Bill to Compete
We heard some big news last week from Governor Nixon and the Missouri General Assembly: Missouri will hold a special legislative session in September. The session will focus on economic development. But the nuclear site permit bill — legislation that would bring thousands of jobs and billions of dollars in economic investment — is not yet included on the special session docket.
However, Governor Nixon did hint at the possibility that the nuclear site permit bill could be taken up during the special session. Negotiations continue, and we at MBEF remain optimistic that the involved parties can come to an agreement. Missouri’s economic and energy future depends on a sound long-term plan to manage future power demand.
Getting this plan in place sooner rather than later is becoming more critical. The U.S. Senate is moving forward with legislation that could have a significant impact on the nuclear site permit debate in Missouri. S. 512, which recently passed a Senate subcommittee, would authorize the U.S. Department of Energy to subsidize the design and approval of two small-scale nuclear reactors. Missouri would have to compete with other states for the money, but if we win, it could save Missourians a quarter of a billion dollars on the design and licensing costs associated with constructing a new nuclear power reactor.
To compete effectively, Missouri must pass the nuclear site permit bill. We’ve talked before about the possibility that passing the nuclear site permit bill would make it easier to obtain federal funds. Now that those funds are becoming a reality, Missouri needs to do whatever it takes to get to the front of the line for this money. If we don’t, we will miss the opportunity to significantly cut costs for Missouri’s electricity consumers.
In addition, former U.S. Senator Kit Bond spoke on the radio earlier this week and opined in an editorial that he believes upcoming EPA regulations will be highly detrimental to coal-dependent states like Missouri. Plants could be forced to shut down, which could cause job losses. And electric rates could increase substantially because, without these plants, Missouri could be forced to purchase power from more expensive out-of-state sources. To avoid these problems, we must prepare and establish a long-term plan that allows Missouri to leave open the option for a second nuclear power plant.
