Key Issues
Building New Nuclear Plants
Companies building the next nuclear plants will proceed in a phased process, increasing their investment in the project as they become more certain it is the right course of action.
An Improved Licensing Process
No company in the United States has decided to build a new reactor, but 17 companies and consortia are exploring the licensing and financial issues associated with such an endeavor. Construction of the next generation of U.S. nuclear plants will differ markedly from the old process, when companies built plants as the designs and regulations were evolving. Designs for the next plants built will have all design-related safety issues resolved before construction begins.Unlike the old licensing process, the new process allows companies to re-evaluate their decision to proceed at various points in the process without debilitating losses. The entire process, from starting the application to completing the new power plant, will take an estimated nine years. Actual construction will take about four years, excluding about 18 months for pre-construction preparation.
Steps to Nuclear Plant Construction
In a competitive electricity market, there are three steps to construction:- file an application for a combined U.S. Nuclear Regulatory Commission license, which will allow a company to build and operate a nuclear plant, provided the facility conforms to approved specifications
- begin procurement of major long-lead components and commodities
- proceed with construction.
- New Nuclear Plant Roadmap to Commercial Operation