A bulldozer moves coal that will be burned to generate electricity at the American Electric Power coal-fired power plant in Winfield, West Virginia.
Luke Sharrett | Bloomberg | Getty Images
The planned restart of Three Mile Island is a step forward for nuclear power, but the U.S. needs to deploy new plants to keep up with rising electricity demand, one of the nation’s top nuclear officials said this week.
The U.S. needs to at least triple its nuclear fleet to keep pace with demand, slash carbon-dioxide emissions and ensure the nation’s energy security, said Mike Goff, acting assistant secretary for the Office of Nuclear Energy at the Department of Energy.
The U.S. currently maintains the largest nuclear fleet in the world with 94 operational reactors totaling about 100 gigawatts of power. The fleet supplied more than 18% of the nation’s electricity consumption in 2023.
The U.S. needs to add 200 gigawatts of nuclear, Goff told CNBC in an interview. This is roughly equivalent to building 200 new plants, based on the current average reactor size in the U.S. fleet of about a gigawatt.
“It’s a huge undertaking,” Goff said. The U.S. led a global coalition in December that formally pledged to meet this goal by 2050. Financial institutions including Goldman Sachs and Bank of America endorsed the target at a climate conference in New York City this week.
Constellation Energy‘s plan to restart Three Mile Island by 2028 is a step in the right direction, Goff said. The plant operated safely and efficiently, only shutting down in 2019 for economic reasons, he said.
The reactor that Constellation plans to re-open, Unit 1, is not the one the partially melted down in 1979.
Microsoft will purchase electricity from the plant to help power its data centers. Goff said the advent of large data centers that consume up to a gigawatt of electricity only reinforces the need for new reactors.
“A lot of the data centers are coming in and saying they do need firm, 24/7, baseload clean electricity,” Goff said. “Nuclear is obviously a perfect match for that,” he said.
But restarting reactors in the U.S. will only provide a small fraction of the nuclear power that is needed, he said. There are only a handful of shuttered plants that are potential candidates for restarts, according to Goff.
“It’s not a huge number,” Goff said of potential restarts. “We need to really be moving forward also on deploying plants,” he said.
From coal to nuclear
Coal communities across the U.S. could provide a runway to build out a large number of new nuclear plants. Utilities in many parts of the U.S. are phasing out coal as part of the clean energy transition, creating a supply gap in some regions because new generation is not being built fast enough.
Recently shuttered coal plants, those expected to retire, and currently operating plants with no estimated shutdown date yet could provide space for up to 174 gigawatts of new nuclear across 36 states, according to a Department of Energy study published earlier this month.
Coal plants already have transmission lines in place, allowing reactors at those sites to avoid the long process of siting new grid connections, Goff said. The plants also have people experienced in the energy industry who could transition to working at a nuclear facility, he said.
“We can actually get a significant cost reduction by building at a coal plant,” Goff said. “We can maybe get a 30% cost reduction compared to just going on a greenfield site.”
Cost overruns and long timelines are major hurdles for building new nuclear plants. The expansion of the Vogtle plant in Georgia with two new reactors, for example, cost more than $30 billion and took around seven years longer than expected.
Expanding operational nuclear plants and building at retired sites in the U.S. could create a pathway for up to 95 gigawatts worth of new reactors, according to the DOE study. Between coal and nuclear sites, the U.S. potentially has space for up to 269 gigawatts of additional nuclear power.
The potential capacity would depend on whether advanced, smaller reactors are built at the sites, or larger reactors with a gigawatt or more of power.
More electricity could potentially be generated if the smaller reactors were rolled out on a large scale because there is space for more them, according to the DOE study. Some of these smaller advanced designs, however, are still years away from commercialization.
But rising electricity demand from data centers, manufacturing and the electrification of the economy could provide a catalyst to build the larger plants as well, according to Goff. The Three Mile Island restart, for example, would bring back just under a gigawatt of power to meet Microsoft’s needs.
“That increased power demand, that will lead toward an additional push toward those gigawatt size reactors as well,” he said.
Restarts likely to secure greenlight
While reactor restarts aren’t a silver bullet, shoring up and maintaining the existing fleet is crucial, Goff said. The U.S. went through a decade-long period in which reactors were shutting down because they could not compete with cheap, abundant natural gas.
The economics are changing, however, with tax support from the Inflation Reduction Act and nuclear increasingly valued for its carbon-free attributes, Goff said.
“One of the issues with the economics, especially in the non-regulated utilities, was there was no value necessarily for clean, baseload electricity,” he said. “There is a lot more recognition of the need for that clean, firm, reliable baseload for nuclear”
Constellation’s decision to restart Three Mile Island follows in the footsteps of the Palisades nuclear plant in Michigan. The private owner, Holtec International, plants to restart Palisades in 2025. The two restarts are subject to review and approval by the Nuclear Regulatory Commission.
“They are an independent agency, but I expect if the safety cases are presented, they’re going to approve it,” Goff said of those potential restarts.
“Constellation obviously operated the Three Mile Island plant for years, and has a very large fleet of reactors that they’ve operated safely and efficiently,” he said. “They will continue to have a great expertise in moving those plants to continue their safe operation.”
But finding additional plants to restart could prove difficult, said Doug True, chief nuclear officer at the Nuclear Energy Institute.
“It gets harder and harder,” True previously told CNBC. “A lot of these plants have already started the deconstruction process that goes with decommissioning and the facility wasn’t as thoroughly laid up in a way that was intended to restart in any way.”
Lectric Ebikes appears to be preparing for a major new product launch, teasing what looks like the next evolution of its wildly popular folding fat tire electric bike. Based on the clues, it looks like a new Lectric XP 4 could be inbound.
In a social media post released over the weekend, the company shared a minimalist graphic reading “XP4” along with the message “Tune in 5.6.2025 9:30AM PT.” That date – this Tuesday – suggests we’re just hours away from the big reveal of the Lectric XP 4.
If true, this would mark the next generation of the most successful electric bike in the U.S. market. The current model, the Lectric XP 3.0, has become an icon of accessible, budget-friendly electric mobility. Starting at just $999, the XP 3.0 offers a foldable frame, fat tires, a 500W motor, a rear rack, lights, and hydraulic brakes – all packed into a highly shippable design that arrives fully assembled. It’s the kind of package that has helped Lectric claim the title of best-selling e-bike brand in the U.S. for several years in a row.
With the XP 3.0 still going strong, the teaser raises plenty of questions. Will the XP 4.0 be a modest update or a major leap forward? Could we see new features like torque-sensing pedal assist, a location tracking option, or upgraded performance? Or is Lectric preparing a more comfort-oriented variant, maybe even with upgraded suspension or even more accessories included standard?
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The teaser image, which features stylized stripes in grey, blue, and black, may hold some clues. One theory is that the colors represent new trim options or component upgrades. Another possibility is that Lectric is preparing multiple variants of the XP 4.0 – perhaps targeting commuters, adventurers, and off-road riders with purpose-built versions. We took the liberty of a bit of rampant speculation late last year, so perhaps that’s now worth a revisit.
At the same time though, Lectric’s penchant for launching new models at unbelievably affordable prices has never run up against such strong pricing headwinds as those posed by uncertainty in the current US-global trade war fueled by rapidly changing tariffs for imported goods.
Previous versions of the Lectric XP e-bike line have seen sky-high sales
Whatever the case, Lectric’s knack for surprising the industry with high-value, customer-focused e-bikes means expectations will be high. The brand has built a loyal following by delivering reliable performance at a price point that few can match, and any major update to the XP lineup is likely to ripple across the market.
As a young and energetic e-bike company, Lectric is also known for throwing impressive parties around the launch of new models. It looks like I may need to hop on a red-eye to Phoenix so I can see for myself – and so I can bring you all along, of course.
Be sure to tune in Tuesday at 9:30AM PT to see what Lectric has in store – and you can bet we’ll have all the details and first impressions as soon as they drop.
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Logo of the Organization of the Petroleum Exporting Countries (OPEC)
Andrey Rudakov | Bloomberg | Getty Images
U.S. crude oil futures fell more than 4% on Sunday, after OPEC+ agreed to surge production for a second month.
U.S. crude was down $2.49, or 4.27%, to $55.80 a barrel shortly after trading opened. Global benchmark Brent fell $2.39, or 3.9%, to $58.90 per barrel. Oil prices have fallen more than 20% this year.
The eight producers in the group, led by Saudi Arabia, agreed on Saturday to increase output by another 411,000 barrels per day in June. The decision comes a month after OPEC+ surprised the market by agreeing to surge production in May by the same amount.
The June production hike is nearly triple the 140,000 bpd that Goldman Sachs had originally forecast. OPEC+ is bringing more than 800,000 bpd of additional supply to the market over the course of two months.
Oil prices in April posted the biggest monthly loss since 2021, as U.S. President Donald Trump’s tariffs have raised fears of a recession that will slow demand at the same time that OPEC+ is quickly increasing supply.
Oilfield service firms such as Baker Hughes and SLB are expecting investment in exploration and production to decline this year due to the weak price environment.
“The prospects of an oversupplied oil market, rising tariffs, uncertainty in Mexico and activity weakness in Saudi Arabia are collectively constraining international upstream spending levels,” Baker Hughes CEO Lorenzo Simonelli said on the company’s first-quarter earnings call on April 25.
Oil majors Chevron and Exxon reported first-quarter earnings last week that fell compared to the same period in 2024 due to lower oil prices.
Goldman is forecasting that U.S. crude and Brent prices will average $59 and $63 per barrel, respectively, this year.
In a bid to keep up with the rapid growth of EVs, Chicago Department of Transportation (CDOT is currently seeking public feedback on a plan called “Chicago Moves Electric Framework.” The city’s first such plan, it outlines initiatives that include a curbside charging pilot through the city’s utility, ComEd, and expanded charging access in key areas throughout the city.
Unlike other such plans, however, the new plan aims to focus on bringing electric vehicle charging to EIEC and low income communities, too.
“Through this framework, we are setting clear goals and identifying solutions that reflect the voices of our residents, communities, and regional partners,” said CDOT Commissioner Tom Carney. “By prioritizing equity and public input, we’re creating a roadmap for electric transportation that serves every neighborhood and helps drive down emissions across Chicago.”
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Neighborhoods on the south and west sides of Chicago experience a disproportionate amount of air pollution and diesel emissions, largely due to vehicle emissions according to CDOT. Despite that, most of Chicago’s public charging stations are clustered in higher-income areas while just 7.8% are in environmental justice neighborhoods that face higher environmental burdens.
“Too often, communities facing the greatest economic and transportation barriers also experience the most air pollution,” explains Chicago Mayor Brandon Johnson. “By prioritizing investments in historically underserved areas and making clean transportation options more affordable and accessible, we can improve both mobility and public health.”
The Framework identifies other near-term policy objectives, as well – such as streamlining the EV charger installation process for businesses and residents and implementing “Low-Emission Zones” in areas disproportionately impacted by air pollution by limiting, or even restricting, access to conventional medium- and heavy-duty vehicles during peak hours.
The Chicago Moves Electric Framework includes the installation of Level 2 and DC fast charging stations in public locations such as libraries and Chicago’s Midway Airport, “supporting not only personal EVs but also electric taxis, ride-hail and commercial fleets.”
Chicago has a goal of installing 2,500 public passenger EV charging stations and electrifying the city’s entire municipal vehicle fleet by 2035.
Electrek’s Take
ComEd press conference at Chicago Drives Electric, 2024; by the author.