Three Mile Island Is at the Center of Efforts to Expand Nuclear Capacity to Meet Rising Power Demand

Published On Oct 30, 2024, 5:03 AM

The Three Mile Island nuclear power plant in Pennsylvania, infamous for a major accident in 1979, is set for a revival through a plan to restart one of its reactors, which had been shut down in 2019. This initiative, aimed at increasing the country's nuclear capacity to meet rising electricity demand, is significantly backed by Microsoft, which will purchase all electricity generated at the plant for 20 years starting in 2028. This shift indicates a growing acceptance of nuclear power as a viable, emissions-free energy source.

Stock Forecasts

With Microsoft backing the revival of the Three Mile Island plant, this could lead to increased stability and growth in the nuclear sector, highlighting a positive sentiment toward utilities focused on nuclear energy. As the demand for clean energy rises, stocks related to nuclear power could benefit.

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