As for nuclear, we ve got to come to grips with the high-level waste issue. By law, the U.S. Department of Energy is required to accept the waste and create a final repository. The federal repository was supposed to be up and running more than three years ago. Federal policy must require in no uncertain terms that DOE fulfill its obligations by a date certain. Our company s contribution to DOE for this project stands at 490- million dollars.
More research is needed in the nuclear area as well.
I m pleased that the Nuclear Regulatory Commission has already approved three advanced plant designs. Renewable resources should not be forgotten. Research and development is reducing the cost of wind and solar. Today, more than 10 percent of our power comes from hydroelectric projects. Yet it takes seven years or better to license or re-license these facilities.