this post was submitted on 04 Oct 2024
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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