The new regulations allow nuclear power and natural gas producers to qualify for significant credits aimed at hydrogen production.

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.

Plug Power Inc. (PLUG) stock surged nearly 20% in morning trade on Monday after the U.S. Department of the Treasury released the final rules on tax credits for clean hydrogen production under the Inflation Reduction Act (IRA).