alt Hacker NewsYup. Europe can absolutely still build reactors, just not at a price that is economically competitive.
Olkiluoto 3 started regular production in 2023, taking 18 years to build at a cost of €11 billion (3x over budget).
Flamanville 3 started regular production in 2024, taking 17 years to build at a cost of €13.2 billion (4x over budget) or €19.1 billion including financing in 2015 prices.
Hinkley Point C (two reactors) is currently estimated to have its first unit come online around 2030, taking 14 years with total costs now estimated at £31-35 billion / €36–41 billion (2x over budget) in 2015 prices.
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The problem is that we insist on building nuclear plants like cathedrals, when we need to build them like Model T Fords.
Small modular reactors need to be rolling out of a factory ready to go, so we can do large redundant arrays of them, put them on trains to transport them around, etc.
A nuclear power station making a couple MW should cost maybe a few million tops once we have the ability to make hundreds of them a year from a factory instead of creating these 20 year projects for gigantic facilities that are all bespoke
Funny, the Finns are super happy with their "uneconomic" nuclear reactors. Current approval rating for nuclear is now 81%, up from 77% last year.
The UK is so disappointed by their HPC project (which is the most expensive nuclear reactor project in history, AFAIK), that they just completed the investment decision for the follow-up Sizewell-C, which will also be 2 UK-EPRs.
Oh, the guarantee price for HPC is the same as that for various off-shore wind-projects. So obviously economically uncompetitive. At 10 pence/kWh the two reactors at HPC will produce electricity worth £200 billion. Which does put the cost of £41 billion into perspective, despite that being the most ridiculously over-time and over budget nuclear project in history.
Actually, Flamanville 3 did not start "regular" production in 2024, they were just given go-ahead to go to full power a few days ago. It was first grid-connected in 2024 and then started a lengthy ramp-up phase. It slowly coming online was the time for the Cour des Comptes to give its verdict, which was pretty damning.
Flamanville 3 was probably the worst run nuclear project in French history. And even so, this "damning" verdict was that it FV3 would only be somewhat and in the worst case marginally profitable. But still profitable. Which is better than pretty much every intermittent renewables project out there, certainly in Europe.
EDF is often accused of receiving heavy state subsides, with the implication that this is to keep the nuclear power plants going or subsidize nuclear electricity. It is true that EDF gets state subsidies. For their intermittent renewable projects. Ba-da-dum-tss. The nuclear party of their business is tremendously profitable, despite being forced to subsidize industry through the ARENH program.
I found an interesting set of charts + explanation for China:
https://www.reddit.com/r/Infographics/comments/1ijcocq/chine...
It would really be great to understand (rather than me guessing) China's rationale to build these plants, and also their safety.
They generate about 5% of their electricity with nuclear. That's a lot, but is it enough to power the country if other alternatives stop being viable (war, shortages, ...?) Maybe it's OK for them that in such a situation, they just turn off enough residential power to last through the night with nuclear and storage. z
Do they see the nuclear research as dual use? My understanding is that nuclear subs and ships do use entirely different nuclear plants. Maybe research into small modular reactors is more dual use. There's also use for those reactors if they really want to build moon bases.
Maybe at their cost of the plans (I heard ≈3B for a 1+GW plant), this is actually competitive with solar+storage. It's definitely competitive with western nuclear power plants, if they want to export in other developing markets.