home Demand, Supply, U Manchin, Risch Reintroduce Bipartisan International Nuclear Energy Act of 2023

Manchin, Risch Reintroduce Bipartisan International Nuclear Energy Act of 2023

By John Dyer   Posted in Demand Supply U
Posted on
Today, U.S. Senators Joe Manchin (D-WV), Chairman of the Senate Energy and Natural Resources (ENR) Committee, and Jim Risch (R-ID), Ranking Member of the Senate Foreign Relations Committee, reintroduced the International Nuclear Energy Act of 2023 (INEA). Initially introduced in the 117thCongress, the bipartisan legislation promotes engagement with ally and partner nations to develop a civil nuclear export strategy and offset China and Russia’s growing influence on international nuclear energy development.
“The United States of America, the world’s superpower, cannot afford to sit back and allow China and Russia to continue their dominance over the world’s nuclear energy supply chain. This bipartisan legislation recognizes that it is past time for the U.S. and our allies to work together to promote a strategy for civil nuclear exports that helps offset China and Russia’s influence while enhancing our energy security. The U.S., our friends, and allies are more than capable of working together on this issue, and I look forward to working with Senator Risch to ensure that this vital legislation becomes law,” said Chairman Manchin.
“As Russia’s war against Ukraine enters its second year, more and more countries are looking to reduce energy dependence on Russia and turn towards nuclear energy to meet their energy security needs,” said Senator Risch. “This legislation will help the United States export new and advanced nuclear technologies like small modular and micro-reactors to help our partners meet their energy needs. I hope my Senate colleagues will join me in once again in supporting this important legislation.”
The International Nuclear Energy Act of 2023 would:
  • Support the establishment of an office to coordinate civil nuclear exports strategy; establish financing relationships; promote regulatory harmonization; enhance safeguards and security; promote standardization of licensing framework; and create a nuclear exports working group.
  • Create programs to facilitate international nuclear energy cooperation to develop financing relationships, training, education, market analysis, safety, security, safeguards and nuclear governance required for a civil nuclear program.
  • Require a cabinet-level biennial summit focused on nuclear safety, security, and safeguards, and to enhance cooperative relationships between private industry and government.
  • Establish a Strategic Infrastructure Fund Working Group to determine how to best structure a Fund to finance projects critical to national security.
To view the full text of the International Nuclear Energy Act, please click here.
 
The International Nuclear Energy Act is supported by various stakeholders:
“As the former head of the U.S. Trade and Development Agency, I know firsthand how important it is to focus the full impact of U.S. intergovernmental support for our nuclear technology providers to effectively compete with other countries’ state-owned enterprises that do not adhere to OECD rules. On behalf of the U.S. Nuclear Industry Council, I commend Senators Manchin and Risch for today reintroducing the International Nuclear Energy Act, which would put the U.S. nuclear industry in a better position to compete across the globe,” said Todd Abrajano, President and CEO, United States Nuclear Industry Council.
“The ongoing atrocities taking place in Ukraine have underscored the vital importance of energy security at home and around the globe. Governments around the world are recognizing the vital role nuclear carbon-free energy will play in achieving not only climate goals but allowing for greater energy and national security.  We have already seen countries throughout Europe take steps to extend or grow their commercial nuclear generation. The International Nuclear Energy Act includes important provisions that will facilitate the deployment of U.S. nuclear energy technologies to partner nations, generating American jobs and extending U.S. influence in nuclear safety, nonproliferation and security.  We commend Senators Manchin and Risch for advancing legislation that will help maintain U.S. global leadership in commercial nuclear technology,” said Maria Korsnick, President and CEO, Nuclear Energy Institute. 
 
“The International Nuclear Energy Act of 2023 provides an urgently needed plan to reestablish America’s international leadership in nuclear energy. For far too long, the US has allowed the authoritarian Russian and Chinese governments to outcompete us in the civilian nuclear power sector . Exporting nuclear power plants to countries ready and able to operate them creates 100-year relationships that not only provide clean, reliable electricity and industrial heat to cut carbon emissions, but also help safeguard our security and the security of our partners. This proposal takes an important step toward harnessing the entire government by establishing a coordinator in the White House and increasing support to American companies exporting nuclear power plants to our allies,”  said Josh Freed, Senior Vice President for Climate and Energy, Third Way.

“While the United States remains the foremost nuclear power in the world, from our power plants to our nuclear navy, developing countries have more recently looked to Russia and China for their new nuclear needs.  INEA wisely puts new tools in Team USA’s tool belt to support American technologies racing to the global marketplace to compete,” said Jeremy Harrell, Chief Strategy Officer, ClearPath Action. “Investing in our domestic supply chain and fostering export opportunities abroad will increase the energy security of our allies and create jobs here at home.”