Scaled-down modular reactors could provide a more affordable, site-specific solution.
, causing rapid increases in energy prices and triggering concerns over energy security. Countries with high levels of nuclear power in their energy mix have found themselves cushioned from this to some extent, leading to renewed interest in the technology.
In the near term, new reactors will be built from existing designs. These large, water-cooled reactors produce between 600 megawatts electric , and 1,650 MWe . They have excellent operational characteristics with very low down time, meaning they generate electricity more than 90% of the time and have design lives of 60 years. But, they take an average of nearly eight years to construct, and sometimes longer — Finland’s Olkiluoto 3 reactor, for example, took 16 years.
The main barrier to the success of SMRs lies in attracting sufficient orders to cover the cost of development and a factory. Even if this is achieved, siting and licensing may still be obstacles. Current national regulatory systems, which differ widely, are geared towards a small number of large projects, with each often taking years to be approved. This will need to be streamlined if the rapid development of an SMR fleet is to be practical.
It could become competitive, however, if gas prices fail to fall significantly. Recent projections for a scheme to heat Paris from large reactors estimated a cost of €42 per MWh . This compares well to current gas prices. Cost could also be reduced further through the use of SMRs, which aim to allow siting closer to population centres, reducing the length and cost of the heat transmission network.
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