Tariffs Risk Higher Costs at US Nuclear Plant, Builder Says
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US tariffs could drive up the costs for a planned nuclear power project in Michigan, according to the South Korean firm building the plant, threatening higher electricity prices for consumers.
If tariffs increase expenses for the builder, those costs will theoretically be passed on to the owner, Holtec International, said Chanho Ahn, director of the new energy division at Hyundai Engineering & Construction Co. And if the owner bears the higher cost, they may ultimately need to set higher electricity prices, he said in an interview on Thursday in Seoul.