en.Wedoany.com Reported - Kentucky Governor Andy Beshear has signed a bill aimed at lowering utility costs by incentivizing nuclear power companies to locate in the state.

The SB 57 bill establishes a Nuclear Reactor Siting Preparation Pilot Program to advance nuclear energy development in Kentucky. Proponents say the program will lower utility costs for Kentucky residents in the long run.

One of the bill's sponsors, State Senator Phillip Wheeler (Republican, Pike County), told WSAZ-TV he hopes to build nuclear power plants on the sites of old coal-fired power plants in Eastern Kentucky. He believes replacing some power plants with nuclear facilities will bring jobs and lower utility costs to the region. Citing studies he has read, he said: "When some well-established coal-fired power plants are retired and replaced with nuclear power plants, it could reduce power plant costs by up to 30%, while providing hundreds of high-paying jobs in areas that desperately need them."

A U.S. Department of Energy report shows that construction costs for new nuclear power plants can be reduced by up to 35%, depending on how many existing site assets can be repurposed from retired coal plants. The report also found that regional employment associated with new nuclear plants could increase by more than 650 permanent jobs, distributed across the plant, supply chain, and surrounding communities, with nuclear energy jobs paying 50% more than jobs in other energy sectors.

Wheeler noted that nuclear energy is considered more efficient and cost-effective than other energy sources, and manufacturing is safer than before. He told WSAZ-TV: "This represents a vision for modernizing Eastern Kentucky. Many people think Eastern Kentucky is stagnant, but this bill shows it not only has a glorious past but also a bright future."

However, Wheeler said it will take several years for residents in Eastern Kentucky to see relief from high utility costs. "I don't want to give anyone false hope that this will solve the problem overnight," he said. "But it builds the infrastructure so those interested in investing in nuclear energy know the state government is willing to work with them and has committed to covering at least one-third of the $25 million in site preparation and permitting costs, to develop reliable infrastructure for building reactors and power plants."

Wheeler believes nuclear energy is just one of many solutions to lower energy costs. "The key to a successful economic strategy is having multiple options," he said. "I support solar, wind, coal, natural gas, nuclear, and hydropower. By utilizing a mix of these energy sources, we can truly achieve the most reliable and economical energy costs."

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