LughMA to FuturologyEnglish · 2 months agoMicrosoft wants all its spending on reopening Three Mile Island to come from taxpayer funded loans, and wants tax credits to reimburse it for the fact the electricity it generates will be so expensivecleantechnica.comexternal-linkmessage-square27fedilinkarrow-up1258arrow-down12
arrow-up1256arrow-down1external-linkMicrosoft wants all its spending on reopening Three Mile Island to come from taxpayer funded loans, and wants tax credits to reimburse it for the fact the electricity it generates will be so expensivecleantechnica.comLughMA to FuturologyEnglish · 2 months agomessage-square27fedilink
minus-squaretrainsaresexy@lemmy.worldlinkfedilinkEnglisharrow-up21·2 months agoWhy doesn’t the government just give the loan to Constellation to restart the reactor? What’s the point of Microsoft in this.
minus-squarepsud@aussie.zonelinkfedilinkEnglisharrow-up12·2 months agoThat’s sort of what is happening. Government is guaranteeing $1.6B of Constellation’s loans. Constellation is sourcing a loan themselves, but if they can’t pay, government will pay $1.6B of what is left owing. This makes Constellation’s loans cheaper Aside from that, existing policy of government paying part of the cost of clean* power means Microsoft will pay less for the power So taxpayers are on the hook for one and a half gigabucks if Constellation goes bust Taxpayers are also on the hook for part of the cost of the power produced
Why doesn’t the government just give the loan to Constellation to restart the reactor? What’s the point of Microsoft in this.
That’s sort of what is happening. Government is guaranteeing $1.6B of Constellation’s loans.
Constellation is sourcing a loan themselves, but if they can’t pay, government will pay $1.6B of what is left owing.
This makes Constellation’s loans cheaper
Aside from that, existing policy of government paying part of the cost of clean* power means Microsoft will pay less for the power
So taxpayers are on the hook for one and a half gigabucks if Constellation goes bust
Taxpayers are also on the hook for part of the cost of the power produced