Failed US Nuclear Project - Cost Concerns for Canadian SMRs

[Oscar]

Failed U.S. Nuclear Project Raises Cost Concerns for Canadian SMR Development

[ https://www.theenergymix.com/2023/11/10 ... -451866381 ]

Mitchell Beer November 10, 2023 ENERGY MIX

QUOTE: The abrupt failure of the leading small modular nuclear reactor (SMR) project in the United States is shining a light on public subsidies that might keep similar technology under development in Canada, even if it’s prone to the same cost overruns that scuttled NuScale Power Corporation’s Carbon Free Power Project (CFPP) in Utah.

NuScale and its customer, Utah Associated Municipal Power Systems (UAMPS), announced they were cancelling the project earlier this week, after its anticipated cost increased 53% over earlier estimates, Bloomberg reports. “The decision to terminate the project underscores the hurdles the industry faces to place the first so-called small modular reactor into commercial service in the country.”

But a clear-eyed assessment of the project’s potential was really made possible by a level of accountability that doesn’t exist in Canada, said Gordon Edwards, president of the Canadian Coalition for Nuclear Responsibility.

“Private investors in Utah forced NuScale to divulge financial information regarding the cost of electricity from its proposed nuclear plant,” and “cost became the deal-breaker,” Edwards told The Energy Mix in an email. “Publicly-owned utilities in Canada are not similarly accountable. The public has little opportunity to ‘hold their feet to the fire’ and determine just how much electricity is going to cost, coming from these first-of-a-kind new nuclear reactors.” . . . . "

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