THU AM News: Risk allocation, economic viability seen as top hurdles for new nuclear development; Home sales, prices rising in October, WRA report shows

November 20, 2025

— Concerns around risk allocation and economic viability are the main hurdles to further nuclear energy development, according to a UW-Madison expert.

Prof. Paul Wilson, chair of the university’s Department of Nuclear Engineering & Engineering Physics, spoke yesterday during a policy event hosted by the Wisconsin Conservative Energy Forum at the state Capitol.

The discussion focused on the path ahead for nuclear energy, including new technologies being explored such as small modular reactors. These smaller nuclear installations have been floated as one solution to meet rising demand from energy-hungry data centers. But Wilson noted despite the hype, SMRs have yet to be created.

“We know we can do it … we’ve built upon things we’ve proved in the 50s, 60s and 70s, it wasn’t commercially viable then for a bunch of reasons, there’s been technology advancement, it’s maybe commercially viable now,” he said. “But it’s still, we need to demonstrate that we can actually do it. So that creates a huge risk mismatch.”

Wilson said he believes large utility companies “desperately” want to build more nuclear power, but “nobody wants to be first” or even second in line to move forward with a yet unproven concept. He suggested conventional electric utilities likely won’t be the ones to build the next nuclear power plants. He said the margin is too low, plus utility managers are too conservative and they operate in too competitive of an industry.

“And so it’s going to be big tech … it’s going to be those companies that have a very different risk tolerance, very different balance sheet, who are able to put money in the pot to absorb some of that risk and make it a more viable opportunity for all the players to spread that risk around,” he said. “And potentially some government risk-sharing as well.”

Chris Heck, senior manager of state government affairs for the Nuclear Energy Institute, argued more nuclear energy will be needed in the region to meet projected demand for MISO, the Midcontinent Independent System Operator whose grid network includes Wisconsin.

“MISO needs at least 16 gigawatts of new energy to meet the current low, low energy demand projections. A lot higher when you start adding in where AI can eventually go, right? Put that in perspective, Point Beach, about 1 gigawatt plus of electricity being produced,” he said yesterday, referring to the nuclear plant that makes up about 15% of the state’s annual net generation.

With that projected demand in mind, he argued “you have to build them” in order to keep energy affordable and reliable.

The need for more nuclear energy was echoed yesterday by Mike Huebsch, a former commissioner with the state Public Service Commission and state lawmaker. He now operates Huebsch Consulting Group in West Salem.

“I’ve obviously followed elections not only in Wisconsin but in the country for 30 years. I’ve never seen energy prices become the top political issue, and that’s exactly what’s happening all across the country,” he said. “Affordable energy is absolutely essential, it’s one of the things that nuclear can provide.”

Both he and Wilson emphasized that renewable energy sources have a place in the state’s energy mix. But Wilson explained the broader goal of decarbonizing the energy system can’t be done with renewables and energy storage alone.

“Eventually you hit a wall where you now have to start building five, six, eight times as much capacity to just meet the reliability that you get out of something like nuclear energy,” he said, adding “you need to have a mixture of energy sources to have a stable electricity grid, if we want the reliability we expect.”

Huebsch also noted Wisconsin is a net importer of energy, arguing that doesn’t have to be the case. He said “we’re not even close” to a national leader in nuclear with just one operating plant, while Illinois has 11.

“There are states that are well ahead of us, so we could build more here, we could do more here,” he said, adding “there’s going to be a remarkable demand over the next five, 10 years … We need to meet that with supply.”

Watch the video.

— Statewide home sales and prices continued to rise in October as the state enters the slow season, the latest Wisconsin Realtors Association report shows.

October home sales increased 3.4% over the year, from 6,426 in October 2024 to 6,643 last month. On a year-to-date basis, home sales were 2.4% higher than during the same period of 2024.

Meanwhile, the state’s median home price rose 6.9% over the year, reaching $331,500 in October. For the year to date, the median price increased 5.6% to $327,500.

Wisconsin’s total listings rose 1.7% over the year, marking a two-year trend of monthly annualized growth in this figure. But WRA notes it remains a seller’s market with just 3.9 months of supply, far below the amount needed to reach a “balanced” market.

The state would need to add more than 12,000 homes to reach that point, according to the group.

Chris DeVincentis, board chair for the WRA, notes those listing their homes during the colder part of the year are “often highly motivated” to sell.

“This can translate into more favorable price concessions from those sellers,” he said in the report.

It also includes a look at the impact of the recent record-long government shutdown, with WRA consultant and economist Dave Clark noting Federal Reserve Chair Jerome Powell has “hinted” at delaying a cut in short-term rates in December amid limited economic data. He said the U.S. Bureau of Labor Statistics didn’t collect or analyze anything during the six-week shutdown.

“Although federal government shutdowns typically don’t have lasting effects on the national economy, they are disruptive,” Clark wrote.

See the report.

— A Trempealeau County judge has upheld a new law that will begin requiring wedding barns to get a license in order to serve alcohol, finding the state has a rational interest in regulating the facilities to protect against excessive drinking.

Judge Rian Radtke yesterday rejected the challenge filed by two wedding barns to the law and granted the state’s motion for summary judgment. He said the state has taken steps with other establishments that serve alcohol to protect public health, such as cutting off sales at 2 a.m. and prohibiting serving anyone who’s already intoxicated.

Radtke found the state has a rational interest in extending those safeguards to wedding barns, which have allowed renters to bring in their own alcohol and for guests to self serve.

“The court agrees that one of the risks the state’s regulation protects against is excessive drinking,” Radtke said while delivering an oral ruling.

Radtke earlier rejected a preliminary injunction in the case along similar rationale.

Lucas Vebber, an attorney for the wedding barns, said he is discussing with his clients whether to appeal.

The law, signed in 2023 and set to fully take effect Jan. 1, required facilities that fall under the definition of “public spaces” to get a permit to sell alcohol. Previously, wedding barns rented for social gatherings were considered private venues and weren’t required to obtain a permit.

Instead of obtaining a full alcohol license from local officials, spaces such as wedding barns can also get a “no-sale permit” that would allow patrons to provide their own alcohol. But the venue would only be allowed to operate once a month and a maximum of six times in a year.

According to court records, Farmview, in Berlin, had hosted about 18 events a year, while Monarch, in Blair, had hosted about 26. Both said they had trouble renting to anyone in 2026, after the new permit requirement takes effect, and may go out of business.

— Timber Professionals Cooperative Enterprises plans to reopen a sawmill in Shawano County and expand production from former levels, thanks to an $800,000 USDA loan.

The federal agency yesterday announced the Rural Development loan for the project at the former Hoffman Wood Fiber LLC sawmill, which is expected to create six jobs.

The co-operative will use the funding to buy equipment and more than 49 acres of real estate, and plans to produce “new, higher-value products” from the same raw materials. Upgrades including a new log feed deck will improve production from 2,500 tons per month to 4,000, according to the announcement.

See the release.

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TOPICS

BANKING

– PNC Bank closing another Milwaukee branch office

CONSTRUCTION

– Senate passes bill to delay commercial building code enforcement

EDUCATION

– Charter school Carmen Northwest explores backup plan as Milwaukee board weighs renewal

– Marquette University receives $4.8 million gift to support public service scholarship programs

FOOD & BEVERAGE