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Obama admin calculations spared developers millions in loan guarantee fees for Ga. nuclear project, documents show http://apocadocs.com/s.pl?1398204123
The Obama administration finalized $6.5 billion worth of loan guarantees for the country's first U.S. reactors in decades without requiring developers to pay a "credit subsidy fee" -- money that protects taxpayers should the developers default, according to documents obtained by Greenwire... The zero-sum figure drew immediate criticism as a "sweetheart deal" for the companies.
"It is outrageous that the Department of Energy and Office of Management and Budget somehow determined that the two reactors under construction at Plant Vogtle pose less of a risk of default today than they did a couple years ago," said Sara Barczak, director of the Southern Alliance for Clean Energy's high-risk energy choices program. Barczak said the fees are critical in light of the 2011 nuclear disaster in Japan, stiff competition nuclear projects face from cheap gas and the snuffing out of other projects.
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