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Biden Begins $6B Program to Bail Out Distressed Nuclear Power Plants

Daniel

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The Biden administration is launching a $6B program to rescue nuclear power plants at risk of closing, opening a certification and bidding process Tuesday for a civil nuclear credit program to aid financially distressed owners or operators of nuclear power reactors.

The U.S. Department of Energy said it will take applications for the first round of funding in its program until May 19, prioritizing reactors that have already announced plans to close.

The program could provide a boost to operators including Public Service Enterprise Group (PEG), Constellation Energy (CEG) and Energy Harbor (OTCPK:ENGH), according to Bloomberg.

PG&E (PCG) plans to shut its two Diablo Canyon reactors in California in 2024 and 2025.

ETFs: (NYSEARCA:XLU), (URA), (NLR)

A dozen U.S. commercial nuclear power reactors have closed in the past decade before their licenses expired, and a quarter or more of the remaining U.S. nuclear fleet of 93 reactors is at risk, according to the DoE.

Nuclear power currently provides ~20% of electricity in the U.S., or about half the nation’s carbon-free energy.

The only nuclear plant now under construction in the U.S. in Southern Co.’s (SO) Vogtle plant in Georgia; the project’s costs have ballooned over the years, and another delay was announced in February.

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Original Post: seekingalpha.com

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Maersk, MSC to End Global Alliance in Container Shipping Shakeup

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The world’s two biggest shipping lines – A.P. M?ller-Maersk (OTCPK:AMKBY) (OTCPK:AMKAF) and Mediterranean Shipping Co. – said Wednesday they will end their 2M vessel sharing partnership in 2025, a move S&P Global Platts said will shake up the container shipping market and .

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Article: seekingalpha.com

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U.S. Natural Gas Slides Below $3 for First Time in 19 Months

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U.S. natural gas futures fell below $3 for the first time since May 2021, trading as low as $2.992/MMBtu Wednesday before the front-month February contract (NG1:COM) settled at a new 52-week low, -5.8% to $3.067/MMBtu.

Since fears that suppliers couldn’t meet wintertime demand pushed U.S. natgas prices to a 14-year high of ~$10/MMBtu in August, U.S. and Europe have refilled their buffer inventories ahead of winter, and relatively warm temperatures in the Northern Hemisphere so far have held down demand for heating.

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Source Here: seekingalpha.com

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Sens. Warren, Welch Urge Moderna to Reconsider COVID-19 Shot Price Increase

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Democratic Sens. Elizabeth Warren (Mass.) and Peter Welch (Vt.) are asking Moderna (NASDAQ:MRNA) CEO Stephane Bancel to reconsider a price hike for COVID-19 vaccines once they become available through the commercial market.

Moderna (MRNA), like rival Pfizer (), has said it plans to hike the price of its COVID shot to between $110 and $130 per dose, far higher than what the federal government has been paying for them.

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Original Article: seekingalpha.com

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