New ClearPath CEO Jeremy Harrell is shopping a nuclear financing proposal to help get advanced nuclear projects off the ground, Nick writes.

Why it matters: ClearPath is a player on nuclear policy and an important architect of how Republicans talk about climate and energy.

• Harrell, who recently succeeded longtime CEO Rich Powell, will likely become a common sight in Hill hearing rooms.

Nick recently sat down with Harrell over Thai food. The interview has been edited and condensed for clarity …

Let's say the ADVANCE Act passes. What are the next steps on nuclear policy?

There are three policy opportunities that are out there that I think are important — and it is also time for the industry to start building.

We need to continue the momentum on NRC modernization. We just saw Tim Scott … introduce a bill that didn't make it in the ADVANCE package.

Two, I think we do need to find some solution to help finance some of these next wave of projects. We've been working with leaders on Capitol Hill on a financing proposal that I think could get some significant attention.

And then I think the spent fuel conversation is ripe again.

Can you elaborate on that financing proposal?

How do we give the ratepayer a little more certainty? As we're getting past these first-of-a-kinds, there is a little bit of a window where we need to bridge from project one to project five. That will make more states and more regions comfortable embracing nuclear as a big part of the solution.

Are you making the case to Republicans for the parts of the IRA you like?

Over the last eight years, [tax incentives have] been a big focus of ClearPath as a whole. The IRA just is what politicized this a little bit more.

Limited tax incentives … can drive investment and make these really sea-change infrastructure investments, can help catalyze American industry and help bridge the gap between new technology and full commercialization.

We know inevitably there's going to be a big tax package next year.

What are your priorities going into that 2025 tax debate?

Regardless of the political makeup postelection, a lot of horse trading is gonna have to happen.

Our big priorities in that case are how do we continue to ensure that credits like the clean electricity credit … are in place so that we can bring those technologies to market. 45Q — really, really important.

One opportunity that we think is interesting out there … is on the carbon dioxide removal side.

The new 45Q credit has a pretty robust incentive for direct air capture, but there are technologies other than mechanized direct air capture that are out there.

Reactions to FERC's regional planning rule showed how difficult it will be to bridge the political divide on the issue, Nick writes.

Why it matters: The rule could help usher in a wave of big power line development, but it's not a panacea.

Driving the news: The commission, as expected, approved the rule on a 2–1 vote, with a handful of tweaks from the initial proposal two years ago.

• The final rule requires transmission providers to plan out 20 years into the future.
• And they'll have to use a slate of economic indicators — like alleviating grid congestion and extreme weather mitigation — when determining who pays for power lines.

Here's a good example of how the politics have played out:

• Sen. Kevin Cramer said the rule came at the "behest of radical environmentalists" and argued that it would lead to the heavily renewables-powered "grid that Democrats dream about."
• Meanwhile, Senate Majority Leader Chuck Schumer told reporters that after Democrats failed to enact transmission policy in the IRA debate, they "persisted and found another path through FERC."
• And then the sniping started. After Schumer said that Congress likely won't do permitting legislation this year, Sen. John Barrasso issued a statement: "If permitting reform is dead, Sen. Schumer and Senate Democrats killed it."

💭 1. Tariff thought bubble: The administration's tariff hikes on Chinese goods will be a big deal for auto supply chains.

• But the increase for solar cells probably won't have a huge impact, given that many of those imports now come from Southeast Asia. The administration is also delaying some battery and graphite increases until 2026.
• That helps explain the mixed-to-positive reaction we've seen so far from the renewables industry.
• This is another sign that when it comes to trade, President Biden and former President Trump can actually be pretty similar.

☢️ 2. Banning together: Biden signed the Russian uranium ban into law yesterday, Axios' Sareen Habeshian reports.

• Go deeper: Read more from Nick about DOE's next steps and the implications.

👽 3. Fresh probe: Democrats on the House Oversight Committee are investigating Trump's meeting last month with oil executives. The Washington Post has more.

👀 4. GHG fund oversight: House E&C Republicans are out with a fresh letter alleging that EPA's Greenhouse Gas Reduction Fund is sending money to Democratic political allies.

⚔️ 5. Defending priorities: The House Armed Services Committee unveiled the first draft of its fiscal 2025 NDAA, thus beginning the long journey of the Hill's favorite legislative vehicle.