U.S. Small Modular Reactor Movement Suffers Setback with Project Cancellation

November 14, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--There was fresh optimism in the Power Industry in January when the Nuclear Regulatory Commission (NRC) (Rockville, Maryland) issued its final approval for the design for a small modular reactor (SMR) developed by NuScale Power Corporation (NYSE:SMR) (Portland, Oregon). Touted as the first company with U.S. approval for a small modular reactor, NuScale worked with Utah Associated Municipal Power Systems (UAMPS) (Salt Lake City, Utah) to develop the Carbon Free Power Project (CFPP). The six-reactor project was aimed at providing 462 megawatts of carbon-free energy to UAMPS members by 2030. But hopes for a new chapter in the U.S. Nuclear Power Renaissance were dampened last week when NuScale and UAMPS announced they were cancelling the project. The project appeared unlikely to gain enough subscriptions from local power providers to move forward.