FOR IMMEDIATE RELEASE
January 19, 2017
Richmond, VA –The Virginia Nuclear Energy Consortium (VNEC) testified today in support of legislation under consideration in the Virginia House of Delegates that would explicitly allow investor-owned utilities to recover costs associated with relicensing and extending the life of nuclear facilities. House Bill 2291 would help continue Virginia’s current commitment to clean, affordable nuclear power and receive the economic, clean air and reliable baseload power from these facilities.
“Virginia currently gets 39% of its electricity from emission-free nuclear energy, and HB 2291 will allow Virginia’s nuclear providers to make investments to extend the benefits these facilities offer to all Virginians.” said Dr. Sama Bilbao y León, Director of Nuclear Engineering Programs at VCU and Chairman of VNEC.
The bill, introduced by Delegate Terry Kilgore (R) authorizes rate adjustments under certain circumstances that would allow cost recovery when utilities make system or equipment upgrades, replace systems or equipment, or incur costs related to extending the combined operating license for, or the operating life of, nuclear generation facilities.
At a hearing before the House Commerce and Labor Committee, today, Dr. Bilbao y León affirmed VNEC’s support for the bill and for continued efforts to support and expand the role of the nuclear industry in Virginia. “From research and education at our state universities. to generation that powers our homes, to a world class nuclear manufacturing and services at AREVA and BWX Technologies, Inc., and the US nuclear Navy’s shipyard at Newport News, nuclear energy is a valuable contributor Virginia’s future growth and success,” Dr. Bilbao y León testified.