The Arizona Corporation Commission (ACC) held its second workshop on advancing nuclear power generation in the state on February 24, 2026. The event, hosted by Chairman Nick Myers and Commissioner René Lopez, brought together more than a dozen officials from technology and energy sectors nationwide. Participants included representatives from the U.S. Department of Energy, offices of Senator Ruben Gallego, Congressman David Schweikert, Senator Mark Kelly, the Governor’s Office of Resiliency, the Nuclear Energy Institute, Guggenheim Partners, and the Arizona Chamber of Commerce.
Chairman Nick Myers expressed satisfaction with the outcome: “I’m extremely pleased with how our Commission’s second workshop on advancing nuclear energy in Arizona turned out, it’s a non-partisan issue, it’s something we need to move forward on as quickly as possible,” he said. He added that hearing about declining costs for AP1000 reactors was encouraging for utilities and ratepayers. “If we are serious about ensuring a reliable and resilient grid in the years ahead, we will need more dependable baseload power — and nuclear energy is a key part of that equation.”
Vice Chair Rachel Walden noted growing bipartisan support: “I’m really encouraged at the bipartisan support we are seeing at both the state and federal levels,” she said. “We all agree that nuclear is going to play a pivotal role in our future, especially as America is going to win the AI race.”
During the workshop, participants discussed financial risks and mitigation strategies related to new nuclear projects in Arizona. Allen Otto from Guggenheim Securities reported that partnerships between hyperscalers—large-scale tech companies—and utilities are forming to help manage financial risks associated with such projects. A typical project with two reactor units could cost around $20 billion. Otto stated: “Hyperscalers that truly do need this power… are very supportive and very willing to pay, they recognize the premium value of nuclear and they’re willing to get behind it.”
Julie Kozeracki from the U.S. Office of Energy Dominance Financing informed attendees that over $250 billion in lending authority is available for energy projects like nuclear facilities. She explained these loans can be combined with investment tax credits ranging from 30% to 50%, which could significantly reduce costs for developers. Kozeracki also highlighted Palo Verde generating station’s site as an asset due to its established regulatory history.
The Governor’s Office of Resiliency is collaborating with ACC as part of its Arizona Strategic Energy Plan to explore advanced energy technologies including nuclear power. The Arizona Chamber of Commerce also voiced support for new nuclear initiatives amid ongoing business expansion projects across the state. Danny Seiden, president of the Chamber, stated: “Energy policy has long been central to the Chamber’s work on competitiveness. Arizona needs an energy portfolio with diversity, regulatory clarity, and disciplined long-term planning to support continued growth.”
Arizona Public Service (APS), Salt River Project (SRP), and Tucson Electric Power (TEP)—the state’s three largest electric utilities—updated commissioners on their joint application for a $25 million grant from the U.S. Department of Energy aimed at identifying sites for potential new nuclear plants.
Cepand Alizadeh from the Arizona Technology Council remarked: “This has been such a productive workshop, this is such a critical issue,” adding praise for broad political participation.
Commissioner Lea Márquez Peterson addressed financing challenges: “I appreciated the discussion during the workshop on the financing of new nuclear projects in Arizona,” she said. “We hear a lot of support for nuclear expansion across the state, but the challenge remains on how we will finance such a project… I look forward to continuing to explore nuclear expansion – whether it is large units or small modular nuclear reactors – for Arizona.”
Commissioner René Lopez concluded: “We had a productive day discussing the future expansion of nuclear power generation in Arizona… Our next steps will continue to explore federal and local funding, supply chain management, workforce development, and continued community outreach.”
The date for another workshop has not yet been set; materials related to these discussions are available through Docket No. E-00000A-25-0026 at https://edocket.azcc.gov/.
