British Report Recommends Subsidies For SMR Development

A study commissioned by the British government on financial considerations of small modular reactors said Tuesday that SMR developers should be given subsidies to help the UK stay competitive and independent in energy resourcing.

NuScale SMR designThe government “should establish an advanced manufacturing supply chain initiative to bring forward existing and new manufacturing capability,” the report said, according to a Reuters story.

The report was written by the Expert Finance Working Group on Small Nuclear Reactors.

The recommendations are similar to how Britain addressed opportunities for the wind power industry, the report notes.

Several companies are involved in developing small modular reactors for the British market, including Rolls Royce, which estimated the value of an export market for SMRs at $518 billion.

Amec Foster Wheeler, Nuvia, and NuScale, which is owned by Fluor Corp., are also pursuing SMR development with Amec Foster Wheeler and Nuvia partnering with Rolls-Royce to do so.

The report completed this week “recognizes the opportunity presented by small nuclear reactors and shows the potential for how investors, industry and government can work together to make small nuclear reactors a reality,” British nuclear energy Minister Richard Harrington said in a statement.

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