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122381 1 (1983-09-15)

handle is hein.gao/gaobactdm0001 and id is 1 raw text is: 



              UNITED  STATES GENERAL ACCOUNTING OFFICE
                      WASHINGTON,  D.C.  20548


                                     FOR RELEASE ON DELIVERY
                                     Expected at 9:00 A.M.
   122381                           Thursday, September  15, 1983

                           STATEMENT OF
                           J. DEXTER PEACH
                           I DIRECTOR
       RESOURCE, COMMUNITY AND ECONOMIC DEVELOPMENT DIVISION
                            BEFORE THE
          SUBCOMMITTEE ON ENERGY RESEARCH AND PRODUCTION
             HOUSE COMMITTEE ON SCIENCE AND TECHNOLOGY
                                ON
      PRIVATE FINANCING FOR THE CLINCH RIVER BREEDER REACTOR


Madam Chairman and Members of the Subcommittee:

     We welcome the opportunity to be here today to discuss the

proposed private financing for the Clinch River Breeder Reactor

(CRBR).  During the past few months, we have issued two reports on

the Department of Energy's (DOE's) efforts to obtain additional

private financing for the CRBR project.1

     In March 1983, DOE and a task force of the Breeder Reactor

Corporation (BRC)--a company representing utilities who have

contributed funds to the CRBR project--issued reports that

described a potential framework for obtaining private financing

for the CRBR.  On May 12, 1983, we reportcd, tha.t they

     --xepresented the beginning of a process that would require

       much more work before a detailed private financing proposal

       is developed,




1 Analysis of Studies on Alternative Financing for the Clinch
River  Breeder ReactoT (GAO/RCED-83-151, May 12, 1983) and
Comments  on a Plan for Obtaining Private Finanr.ing for the
Clinch  River Breeder Reactor (GAO/RCED-83-226, Aug. 22, 1983).


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