Senate Budget Deal Has Tax Credits for Only Nuke Project in U.S.

  • Southern’s Georgia reactors could get $2 billion in credits
  • Current tax incentives for nukes expire set to expire in 2021

What Matters to Markets in the Budget Deal

A broad budget agreement being voted on Thursday by U.S. lawmakers includes tax credits that would benefit two nuclear reactors under construction in Georgia by Southern Co., according to the bill’s text.

The project could secure about $2 billion in credits should Congress extend the current deadline, Bloomberg Intelligence analyst James Blatchford said in research published Tuesday. The current credits for nuclear power expire in 2021, before Southern’s reactors are expected to be placed in service.

Southern is building the reactors, and its Georgia Power utility plans to operate them. Partners in the project include Oglethorpe Power Corp., the Municipal Electric Authority of Georgia and the city of Dalton, Georgia.

— With assistance by Mark Chediak

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