US stocks: New York State will build one of the first nuclear power plants in the United States in over 15 years.

The state of New York in the United States plans to build a large nuclear power facility, which will be the first large new nuclear power station built in the country in over 15 years and will also be a major test of President Trump's promise to speed up approval of such projects. New York Governor Kathy Hochul said in an interview that she has instructed the state's public power company to increase the nuclear power generation capacity of its aging reactor units by at least 1 gigawatt. One gigawatt of power is roughly enough to power 1 million households. She said, "I am committed to ensuring that every company that wants to come to New York and every person who wants to live here does not have to worry about the reliability and affordability of utilities such as water, electricity and gas." The New York Power Authority will be responsible for selecting a site in northern New York and determining the design of the reactor, the agency was created nearly a century ago by then-Governor Franklin D. Roosevelt to manage hydroelectric production on behalf of the public. Hochul said that the Power Authority can undertake the project alone or in collaboration with private entities. The project may help usher in a new era of nuclear reactor construction in the United States. For over 30 years, the nuclear industry has struggled in areas other than managing existing nuclear power plants due to safety issues, huge cost overruns, and slow approval processes.