Wright says Loan Office key to support for nuclear deployment

WASHINGTON, D.C. – Despite cuts to the Office of Nuclear Energy, Secretary of Energy Chris Wright said Wednesday the Department of Energy will lean heavily on the Loan Program Office to stimulate new nuclear reactor investments. 

Wright spoke before the Senate Appropriations Energy and Water Development subcommittee about the DOE’s budget request highlighted in the fiscal year 2026 “skinny budget. Wright spoke to a House subcommittee about the department’s proposed budget earlier this month.

The DOE has proposed to reduce the Office of Nuclear by $408 million in its upcoming budget.

Sen. Patty Murray (D-Wash.) questioned Wright about the Donald Trump administration’s proposal to cut the Office of Nuclear Energy by $408 million and $1.148 billion in the Office of Science. Murray also said cuts in the Office of Nuclear may deter private companies from investing into nuclear projects.

Wright countered that the nuclear industry will have “the best environment ever for commercial nuclear power” under the Trump administration. Wright said that the Loan Program Office is the most important tool the department has to offer to get private companies to invest in deploying first-of-a-kind nuclear technology.

“Get high quality equity money in front and bring government debt on these first few-of-a-kind reactors behind them, that’s the way to get it done,” Wright said in response to Murray.

Wright said new nuclear, especially small modular reactors (SMRs) are “critical” to the nation’s power generation needs.