Cost overruns and delays risk nuclear’s place in energy transition

Nuclear power is on the brink of a comeback. Having been out of favour in many parts of the world over the past decade, the technology is attracting interest again as a way of cutting carbon dioxide emissions. According to the International Energy Agency , global nuclear power capacity would need to more than double, to 916 gigawatts by 2050, to meet the internationally agreed goal of net zero carbon emissions in that time.

” The industry argues it can bring plant costs down in three ways: repetition, better planning, and cutting size. Repetition enables costs to come down with each new plant built, say executives, as lessons are learned and supply chains recover from a stop-start approach to the technology. “The best way to reduce build costs is to replicate and, crucially, achieve design maturity before construction,” says Tom Greatrex, chief executive of UK lobby group the Nuclear Industry Association.

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