Australian news, and some related international items

NuScale small nuclear reactors – a risky proposition -Institute for Energy Economics and Financial Analysis

Report says new nuclear reactor is risky, – from Market Watch  Feb. 18, 2022 

NuScale design is the only small-scale reactor to win safety approval so far from the U.S. Nuclear Regulatory Commission

A new type of nuclear reactor that [it is claimed]  would provide carbon-free energy to at least four states in the Western U.S. poses financial risks for utilities and their ratepayers, according to a report released Thursday that was immediately criticized by the project’s owner and the company developing the reactor.

The report by the Ohio-based Institute for Energy Economics and Financial Analysis said the small modular nuclear reactor being developed by NuScale Power in Oregon is “too expensive, too risky and too uncertain.”

The NuScale design is the only small-scale reactor to win safety approval so far from the U.S. Nuclear Regulatory Commission, and the agency is poised to issue a rule this summer that would fully certify it…………………

The report from the institute, which supports renewable energy, said it’s likely the NuScale reactor will take longer to build than estimated and that the final cost of power will be higher than anticipated and greater than the cost of power from renewable alternatives.

“The nuclear industry has been claiming that small modular reactors … are the wave of the future and are essential in the fight against climate change,” report co-author David Schlissel said. “Based on the industry’s long history of overpromising and underproducing in terms of providing low-cost power, we believe that these claims must be viewed carefully and cautiously.”………………………..

NuScale said in December it is going public via a merger with special-purpose acquisition corporation Spring Valley Acquisition Corp. SV, -0.20%  in a deal with a pro forma enterprise value of about $1.9 billion. Fluor FLR, -0.05% will remain a majority stakeholder.

February 19, 2022 - Posted by | Uncategorized

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