The Biden administration finalized rules meant to boost domestic production of hydrogen fuel through a new tax credit, a move that might also keep struggling nuclear power plants on line for longer.

The final rule for clean-hydrogen production would allow some nuclear power plants that are at risk of retirement to produce the gas.

The Biden administration finalized long-awaited tax guidance Friday for the production of “clean” hydrogen, but the lasting impact — and even survival — of the credits may come down to Hill Republicans.

Key Takeaways Plug Power shares surged for a second straight session on new tax credit rules for clean hydrogen production.Last week, the Treasury Department issued the final rules for the tax credits spelled out in the Inflation Reduction Act of 2022.