According to industry reports the builders of the NuScale small modular reactor (SMR) project recently submitted revised cost estimates to their muni and co-op partners. Initial cost estimates were for power to be produced at about $58/MWh. This figure was recently revised upwards to roughly $90-$100/Mwh, a projected price increase of 60-70%.
The causes cited by management for these price increases were twofold: inflation (in material costs, i.e. steel) and higher interest rates. This initial NuScale project located at the federal government’s Idaho National Laboratories in Idaho Falls would consist of six 77 MW reactors with the units slated to enter commercial service in 2029-2030. These estimates of per KWH cost are significantly above those we have seen recently for renewables plus storage.
Oil Price 21st Nov 2022