9

SMR Final Investment Decision timeline risks delaying new reactors beyond early 2030s.

Conclusion
In its July 2023 announcement on Great British Nuclear, the Government said that it would use the small modular reactor technology selection process (SMR TSP) to identify those reactor companies best able to reach a project Final Investment Decision (FID) by the end of 2029. The FID would include funding to support site access and site-specific design. Therefore, some of the more time-consuming aspects of building new nuclear projects, namely site-specific regulation and relevant licencing, would not begin for any successful SMR design until after 2029. This new timeline would go beyond the dates that many of the SMR developers have proposed is possible for SMR reactors to supply energy to the grid, namely the early 2030s.
Paragraph Reference
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Government Response

A response document is linked to this report, dated 25 October 2023. Response attribution to this conclusion has not been verified. Read the response document.

Addressee Bodies
Department for Science, Innovation and Technology
Timeline
Recommendation age 3.1 yrs
Report published 31 Jul 2023