H.R. 8648: Framework for Oversight of Responsible Global Energy Act

This bill, known as the Framework for Oversight of Responsible Global Energy Act (FORGE Act), aims to establish a program within the Department of State called the Foundational Infrastructure for Responsible Use of Small Modular Reactor Technology, or FIRST program. Here are the key components of what the bill would do:

Program Establishment

The bill creates the FIRST program to be overseen by the Under Secretary for Arms Control and International Security. The purpose of this program is to promote the use of civil nuclear energy internationally while benefiting U.S. economic and national security interests.

Program Functions

The FIRST program will have several functions, including:

• Promoting Responsible Deployment: The program will advocate for the international deployment of civil nuclear energy technologies that are sourced or exported by U.S. businesses.
• Diplomatic Engagements: It will work through various diplomatic channels to support nuclear energy projects and ensure that they meet high safety, security, and nonproliferation standards.
• Consultation to Partner Countries: The program will provide guidance on best practices for the legal and regulatory frameworks surrounding the adoption of U.S. nuclear technologies.
• Project Development Support: FIRST will offer initial commercial project development assistance, including studies necessary for starting U.S. civil nuclear projects abroad.
• Training and Resource Sharing: The program will facilitate training and coordinate resources with partner countries to support the deployment of small modular reactors.

Reporting Requirements

Within 120 days of the bill's enactment, the Under Secretary will be required to submit a report to Congress detailing:

• The implementation status of the FIRST program.
• Information on diplomatic outreach related to the program.
• A list of current partners in the FIRST program.
• Details on cooperative activities with partners.
• Engagements with U.S. nuclear businesses.
• Financial expenditures associated with the program.

This report will be provided in an unclassified format but may include a classified annex.

Briefing Requirements

After the initial report, biannual updates will be required to brief Congress on the FIRST program's activities and developments.

Definitions and Scope

The bill defines relevant congressional committees as the Committee on Foreign Affairs of the House and the Committee on Foreign Relations of the Senate. It also defines what constitutes a U.S. business in this context.

Duration of the Program

The provisions of this bill will remain in effect until June 8, 2034.

Relevant Companies

• GE (General Electric): Involved in the nuclear energy sector, could be impacted by increased promotion and projects related to small modular reactors.
• BE (Bloom Energy): Focused on energy solutions that may intersect with developments in nuclear energy technologies supported by the bill.
• EXC (Exelon Corporation): As a major utility company with nuclear operations, could benefit from new opportunities in international nuclear energy projects.