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Small Modular Nuclear Reactor cost overruns: the same old problems haunt new nuclear in Utah

 Much hope is being placed on Small Modular Reactors (SMR) making new
nuclear plants competitive. But David Schlissel at IEEFA summarises their
research into the publications, updates and statements coming from the
stakeholders involved with the SMR by UAMPS (Utah Associated Municipal
Power Systems) and NuScale Power Corporation that shows that costs are
going out of control, a persistent problem in the nuclear industry.

The original target power price of $55/MWh has risen to $100 (with subsidies)
and is likely to rise further by the time it’s switched on in 2030, says
Schlissel. Construction costs and delays are the main causes (as usual). So
concerned are potential customers that, since February 2022, only 101MW of
the plant’s total 462MW have been subscribed to.

It will be difficult to
secure financing for the plant without a fully subscribed project.
Meanwhile, IEEFA figures say renewable resources and battery storage will
provide reliable electricity at lower cost than the UAMPS plant, even if
the price for the power from the project is just $58 per MWh. And
renewables and battery costs are still declining.

 Energy Post 25th Nov 2022 more https://energypost.eu/small-modular-reactor-cost-overruns-the-same-old-problems-haunt-new-nuclear-in-utah/

November 25, 2022 - Posted by Christina Macpherson | business and costs, Small Modular Nuclear Reactors, USA