NuScale/UAMPS Carbon Free Power Project Is Terminated

Notes from the Feb. 2023 meeting of the Idaho Falls Power Board (one of the utilities in UAMPS, and the place where the reactors would have been built.)

https://www.idahofallsidaho.gov/AgendaCenter/ViewFile/Minute...

NuScale still needed to get costs down by $700 M to reach the promised $89/MWh. Without that, it would be $105/MWh. This is also after federal subsidies.

"GM Prairie said that the CFPP would need to come down by 55% to be competitive with the market."

"CFPP is not inflation protected because cost increases above projections are borne by the developer which is UAMPS and its members in the project."

"GM Prairie commented that he has been to many meetings recently, including CFPP sales meetings and notices that utilities are still not subscribing, but instead wishing the project well. He said it was his opinion that even if the project gets to $89 LCOE and 80% subscribed by November, that it still is not an attractive deal for Idaho Falls [...]."

"GM Prairie [...] pointed out that all the big utilities have left the project but the smaller utilities stay in because they are trusting UAMPS."

"GM Prairie said [...] that the $89 LCOE is based on 40-50 modules being sold."

"GM Prairie said the UAMPS’ resolution states that the project has to come in/or under $89 LCOE and be subscribed at least by 80% and if UAMPS fails to do that, then just one member of the PMC can vote to terminate the project."