Watt’s Happening aims to provide breaking news, sharp analysis, and thoughtful commentary from the cutting edge of the energy sector as this dynamic area of the world continues to expand and grow before our eyes.
Weekly Highlights:
US-South Korea Nuclear Project May Be In Jeopardy
The good news is that Korea Hydro & Nuclear Power Co. (KHNP) is in talks with Westinghouse to form a joint venture and enter the United States market as a response to President Trump’s call for more nuclear power. It is also clear that the upcoming summit between President Trump and new South Korean President Lee Jae Myung will very likely include a discussion on the joint venture at some point during the summit. What’s not good is the fact that a secret clause made by the previous South Korean administration with Westinghouse for a nuclear power plant in Czechia has come to light. This leak, which would preclude South Korea from profiting from the export of its nuclear reactors, has led President Lee Jae Myung’s party to launch a probe into what it has called “a humiliating slave contract.”
Wind Power Faces New Headwinds
In its most recent earnings call, the Danish wind power giant Ørsted reported that it is under financial stress, which it largely blamed on the recent Trump administration’s antipathy for wind power and recent tax credit changes for renewable energy due to the “Big, Beautiful Bill.” But the truth is that wind power faced problems even before the Trump ascension, with Shell and Equinor running into problems with their offshore wind power programs. While the Danish government owns half of Ørsted and is helping to raise money for the company, and the company has pledged to complete Sunrise Wind and Revolution Wind, it is very unlikely to take part in any more American projects. Is this the canary in the coal mine?
Department of Energy Report Faces a Challenge by Democrats
The Department of Energy recently released a report that stated that closing coal-fired power plants would be a disaster for the country and would expose the country to an increased risk of blackouts. The report’s methodology has come under fire from both experts and Democrats in Congress, who argue that the report ignores the fact that new sources of power are due to come online within a few years and that the report overstates the number of plants that are due to be closed. As a result, the attorney generals of Arizona, Colorado, Connecticut, Illinois, Maryland, Michigan, Minnesota, New York, and Washington plan to challenge the DOE in court to fix the flawed methodology that was used.
Google and Kairos Join Forces
Tech giant Google and Kairos Energy have pledged to join forces by connecting a nuclear power plant to the Tennessee Valley Authority’s electrical infrastructure in order to power Google’s data centers in Alabama and Tennessee. The better news (at least according to some) is that Google and Kairos will provide the funding, while the TVA will provide the needed support until the project gets off the ground. The taxpayers, for once, are off the hook in terms of both cost and risk, even though the Hermes 2 reactor is due to start up in 2030 and both Google and Kairos have remained tight-lipped about the total cost of the project.
Constitution Gas Pipeline Comes Under (Metaphorical) Fire
While Environmental Protection Agency head Lee Zeldin recently claimed that the construction of a new natural gas pipeline from Pennsylvania to New York would reduce energy costs. However, not everyone agrees, especially those who want to see the region continue to wean itself off of fossil fuels. Other critics question the efficacy of the pipeline in getting the gas to the region in the first place, as well as the “lowering energy costs” part of the promise. In fact, the fear is that energy costs will rise, not fall, contrary to Lee Zeldin’s goal of unleashing American energy.
About the Author: Toni Mikec
Toni Mikec is the Managing Editor for Energy World, a publication of the Center for the National Interest. Before that, he worked as a political consultant for Your Voter Guide in Sacramento and as a Senior Editor at Eagle Financial Publications in Washington DC. He holds a B.A. in International Relations (summa cum laude) from the University of California, Davis and a M.A. in International Relations and International Economics from the Johns Hopkins School of Advanced International Studies.
Image: Shutterstock/TStudious
