Today the Department of Energy issued a $12.5 billion nuclear loan guarantee solicitation. More of a kitchen sink approach this time around, the last nuclear solicitation was issued in 2008 and included a narrow description of what projects qualified. The new request for projects has expanded quite significantly and now includes small modular reactors and uprate and upgrade projects. For taxpayers that spells financial nightmare.

TCS voiced our concerns on the new solicitation when it appeared in draft form earlier this fall. Among our concerns was the fact that a project’s creditworthiness was only weighted at 45% of the DOE’s decision on whether or not to issue a loan guarantee. The move continues a trend by the department's Loan Program Office of exposing taxpayers to ever greater risk. None of the concerns we raise appear to have been addressed in the final solicitation released today.