Remember When I Said That Microsoft Wants to Reopen Three Mile Island?

I described Microsoft's plan to be the exclusive purchaser of the output from that plant as jumping the shark.

But it just got even worse, because the owner of the plant, Constellation Energy, is seeking government subsidies to restart energy production.

So now, it's not just Microsoft throwing money at the most notorious nuclear plant in the United States to power its misbegotten efforts in artificial intelligence, they want the taxpayers to subsidize this.

The owner of the shuttered Three Mile Island nuclear plant is pursuing a $1.6 billion federal loan guarantee to help finance its plan to restart the Pennsylvania facility and sell the electricity to Microsoft to power data centers, according to details of the application shared with The Washington Post.

The taxpayer-backed loan could give Microsoft and Three Mile Island owner Constellation Energy a major boost in their unprecedented bid to steer all the power from a U.S. nuclear plant to a single company.

Microsoft, which declined to comment on the bid for a loan guarantee, is among the large tech companies scouring the nation for zero-emissions power as they seek to build data centers. It is among the leaders in the global competition to dominate the field of artificial intelligence, which consumes enormous amounts of electricity.

………

The restart plan has already generated controversy as energy experts debate the merits of providing separate federal subsidies for the project, in the form of tax credits. Constellation’s pursuit of the $1.6 billion federal loan guarantee, which has not been previously disclosed, is likely to intensify that debate.

………

A loan guarantee would allow Constellation to shift much of the risk of reopening Three Mile Island to taxpayers. The federal government, in this case, would pledge to cover up to $1.6 billion if there is a default. The guarantees are typically used by developers to lower the cost of project financing, as lenders are willing to offer more favorable terms when there is federal backing.

And if Microsoft changes its mind in the years that it will take to reactivate the plant?  The taxpayers will be on the hook.

Taxpayers would be on the hook if difficulties or delays occur during the refurbishment of the plant, which are almost certain.

F%$# no.