June 14, 2012

“The department is taking control of tons of uranium left over from USEC’s enrichment operations that is considered to be waste and is thus listed by the company as a liability. That will in effect add $88 million to the company’s balance sheet, officials said. The aid was granted in anticipation of approval of the deal in Congress, where the nuclear weapons argument resonates. The administration hopes that lawmakers will grant its request for substantially more aid to the company, perhaps an additional $190 million or so, department officials said.” …

“Representative Edward J. Markey, Democrat of Massachusetts, criticized the rescue plan. “The real risks of this nuclear bailout is for taxpayers, who will be on the hook for questionable government handouts that are worth more than the entire company,” he said.

USEC has been seeking a $2 billion loan guarantee to build a full-scale enrichment plant,  but the Energy Department has said that it was not certain that the technology was ready.”