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Everything about nuclear energy seems terrifically big: the
cost, construction and decommissioning—and the fears of something going badly
wrong.
The future, however may well be much smaller. Dozens of
companies are working on a new generation of reactors that, they promise, can
deliver nuclear power at lower cost and reduced risk.
These small-scale plants will on average generate between
50MW and 300MW of power compared with the 1,000MW-plus from a conventional
reactor. They will draw on modular manufacturing techniques that will reduce
construction risk, which has plagued larger-scale projects. Supporters believe
these advanced modular reactors (AMRs)—most of which will not be commercial
until the 2030s—are critical if atomic power is to compete against the rapidly
falling costs of solar and wind.
"The physics hasn't changed. It's about much cleverer
design that offers much-needed flexibility in terms of operation," said
Tim Stone, long-term industry adviser and chairman of Nuclear risk Insurers,
which insures nuclear sites in the UK.
Since the Fukushima meltdown in Japan in 2011, safety fears
have threatened nuclear power. But the biggest obstacle today is economic. In
western Europe, just three plants are under construction: in the UK at Hinkley
point in Somerset; at Flamanville in France; and at Olkiluoto in Finland. All
involve the European Pressurized Reactor technology of EDF that will be used at
Hinkley Point. All are running years late and over budget. In the US, the first
two nuclear projects under way for the past 30 years are also blowing through
cost estimates.
The UK, which opened the world's first commercial nuclear
reactor in 1956, is one of the few western nations committed to renewing its
ageing fleet to ensure energy security and meet tough carbon reduction targets.
It is seen as a proving ground, by many in the industry, of nuclear power's
ability to restore confidence.
However, the country's agreement with EDF to build two units
at Hinkley Point—which together will generate 3.2GW of electricity—has come
under severe criticism over its cost. The government is looking at different
funding models but said it still sees nuclear power as vital to the country's
future energy mix. Small reactors, it believes, have the potential to generate
much-needed power from the 2030s.
A nuclear sector deal, unveiled last month, promised up to ￡56m in funding for research and
development into AMRs and attracted interest of start-ups from around the
world. The government hopes the funding will give the UK a lead in the global
race to develop these technologies, helping to provide energy security while
also creating a multibillion-dollar export market for British engineering
companies.
