NuScale Power Corp (SMR)

[H2R]

Rising steel prices, interest rates could push NuScale Utah project cost to $100/MWh, but support remains

https://www.utilitydive.com/news/nuscale-nuclear-reactor-smr-uamps-rising-steel-prices-interest-rates/636619/

Rising steel prices, interest rates could push NuScale SMR cost to $100/MWh, threaten UAMPS project NuScale Power

Higher steel prices and interest rates are driving up the projected cost of energy from Utah Associated Municipal Power Systems’ planned 462 MW small modular reactor project, multiple municipal utilities have reported.

NuScale Power, the company developing the advanced nuclear reactors that will be used in the project, had estimated it could generate power at a price of $58/MWh but now says prices could run $90/MWh to $100/MWh. The Utah project consists of a half dozen 77 MW reactors, with the first expected online in 2029.

The rise in prices likely means the UAMPS project will not hit certain engineering, procurement and construction benchmarks allowing participants to renegotiate the price they pay or abandon the project, experts said.

Not great news for NuScale (or other equipment manufacturer for that matter).

Best of luck with your investments!