Only a few years ago, there was considerable optimism in the United States and globally that the nuclear energy industry was poised for a renaissance. Electricity demand around the world, particularly in developing countries, was expected to grow dramatically even as the need for cleaner energy sources became more urgent. Nuclear power, with a proven track record of safe and efficient operations, was expected to play a large role in meeting these two energy challenges.

The U.S. Congress last passed comprehensive, bipartisan energy legislation in 2005. That legislation—known as the Energy Policy Act of 2005, or EPACT05—was designed to support a range of domestic energy resources, including nuclear energy. Since its passage, major shifts have occurred in energy markets and in the broader economy—not only in the United States but in much of the world. The U.S. electricity market in particular has been profoundly affected by slowing demand growth (in part caused by the sustained economic downturn) and by a significant decline in natural gas prices resulting from the cost-effective development of newly accessible shale gas resources.