Phoenix, Ariz. - The Arizona Corporation Commission held its second in a series of workshops on “Advancing Nuclear Power Generation” on Tuesday, February 24, 2026. Chairman Nick Myers and Commissioner René Lopez hosted the event, with more than a dozen officials in the technology and energy industries from across the country participated in the workshop.  Presenters included representatives from the U.S. Department of Energy, Senator Ruben Gallego’s Office, Congressman David Schweikert’s Office, Senator Mark Kelly’s Office, the Governor’s Office of Resiliency, the Nuclear Energy Institute, Guggenheim Partners, and the Arizona Chamber of Commerce.

“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,” stated Chairman Nick Myers. “Hearing directly from nuclear subject matter experts that the costs of the AP1000 are coming down is especially encouraging. Lower projected costs mean reduced financial risk for utilities and, most importantly, for their ratepayers. That tells me we are moving closer to making additional nuclear generation a viable option here in Arizona. 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.”

“I’m really encouraged at the bipartisan support we are seeing at both the state and federal levels,” said Vice Chair Rachel Walden. “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.”

This second workshop in the nuclear energy series dove into the unique financial and timing risks and mitigation efforts associated with bringing new nuclear projects to Arizona.  Allen Otto with Guggenheim Securities, reports that new nuclear partnerships and consortiums are forming between hyperscalers and utilities to help reduce financial risks. A single nuclear project that consists of at least two reactor units is estimated to cost about $20 billion project.  “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,” said Otto.

The Chief Investment Officer for U.S. Office of Energy Dominance Financing (EDF), Julie Kozeracki, informed the Commission that more than $250 billion in lending authority is available for energy projects, including nuclear.  Additionally, the loan can be paired with a 30%-50% investment tax credit, potentially producing a “buy one reactor, get one free” type of benefit.  According to Kozeracki, the Palo Verde generating station’s site is a valuable asset because of the extensive regulatory and environmental reviews it has undergone to maintain operations, potentially giving Arizona a headstart for deploying new reactors at the site, or in the vicinity.

Governor Katie Hobbs’ Office of Resiliency is working with the Commission on outlining opportunities to take advantage of emerging energy technologies, including advanced nuclear generation, as part of the Office’s Arizona Strategic Energy Plan.  The Arizona Chamber of Commerce also offered their support for new nuclear projects, citing 469 new business and expansion projects currently in the pipeline. “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,” said Arizona Chamber of Commerce president, Danny Seiden. 

The state’s three largest electric utility providers, Arizona Public Service (APS), Salt River Project (SRP), and Tucson Electric Power (TEP) updated the Commission on their joint application for a $25 million U.S. Department of Energy grant which would be used toward identifying new sites for new nuclear generation. The utilities submitted their application in April 2025 and are currently waiting for an announcement from the DOE on the status of approval.

“This has been such a productive workshop, this is such a critical issue,” said Cepand Alizadeh with the Arizona Technology Council.  “We need a mosaic of energy sources to fuel this technological evolution. I am just so impressed we had people on all sides of the political spectrum giving input. Let’s keep moving Arizona forward, let’s keep the possibilities open to all sources of energy.”

“I appreciated the discussion during the workshop on the financing of new nuclear projects in Arizona,” said Commissioner Lea Márquez Peterson. “We hear a lot of support for nuclear expansion across the state, but the challenge remains on how we will finance such a project. Thank you to the various stakeholders for participating in our robust discussion. I look forward to continuing to explore nuclear expansion - whether it is large units or small modular nuclear reactors - for Arizona.”  

“We had a productive day discussing the future expansion of nuclear power generation in Arizona,” said Commissioner René Lopez. “This workshop provided opportunity for continued dialogue among all involved stakeholders. I want to express my appreciation to all the presenters, including the engagement of many state, federal and local offices, for providing historical data, risk mitigation efforts, and available financial resources. Our next steps will continue to explore federal and local funding, supply chain management, workforce development, and continued community outreach.” 

The future date of the next workshop is still to be determined.  All presentations and documents related to this subject can be found on the AZCC website at https://edocket.azcc.gov/, Docket No. E-00000A-25-0026.