In its Proposed 2011 budget, the Obama administration wants to triple the amount of federal money earmarked for nuclear power plant loan guarantees from this year’s $18.5 billion to $54 billion. It’s just one sign that the industry may truly be coming back to life after lying dormant for nearly two decades.
Since Congress created the loan guarantee program in 2005, utilities have submitted 18 applications to the Nuclear Regulatory Commission for licenses for new reactors. The nascent nuclear surge has been a boon for lawyers who specialize in the field. Traditional nuclear powerhouses—Winston & Strawn, Morgan, Lewis & Bockius, Pillsbury Winthrop Shaw Pittman—have seen a steady increase in work. Kathryn Sutton, head of Morgan, Lewis’s energy practice, says her group has added about eight lawyers since 2005. Pillsbury energy chair David Lewis, who is advising PPL Corporation on its plans for a new reactor in Pennsylvania, says his group’s head count has jumped 35 percent, from 20 to 27, in the last year, and revenue has doubled.
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