Bill of the Day: Paying for Small-Scale Nuclear Reactors
Updated on March 1st, 2024.
South Carolina spent $9 billion to dig a hole in the ground and then fill it back in. Photo: Chuck Burton/AP
Small-scale nuclear reactors are one of the most expensive power projects to build, and several bills this session would allow utilities to push cost risk onto ratepayers. Small-scale nuclear reactors, or “SMRs,” are “small” nuclear power plants that would produce up to 300 MW of energy, which is about ⅓ of the power produced by a traditional nuclear power plant. You may not be familiar with the term because there is not currently any functioning SMR facilities up and running.
The conservation community is opposing two bills that would help utility monopolies to start charging customers for the “project development” of an SMR site. This means utilities could charge their customers for project development costs for years, without any guarantee that the project will ever be completed or generate electricity to serve customers.
Why are Small-Scale Nuclear Reactors So Bad?
Appalachian Voices are urging legislators to oppose bills that would force ratepayers to pay for risky, expensive, and unproven technologies. Image by Appalachian Voices.
Small modular nuclear reactor technology is not commercially viable and is VERY expensive. Virginians’ electricity bills have already been rising faster than inflation in recent years, so we should not put captive ratepayers on the hook for unproven technology that may not even come to fruition.
We’ve already seen this problem play out: in 2007, South Carolina attempted to build out a SMR before finally abandoning the project due to increasing costs and expensive delays. Now, ratepayers in South Carolina are still paying off $2.3 billion for the failed project that will never produce electricity.
Bills Requiring Ratepayers to Pay for Unproven Technologies
The conservation community is opposing bills that would allow the biggest power companies to charge Virginians for their attempts to develop Small Modular Reactors. Ratepayer’s electric bills would increase, even though it is possible that the projects never are built.
(Senator Dave Marsden): Allows Dominion and Appalachian Power to recover development costs for small-scale nuclear reactors, forcing ratepayers to pay for an extremely expensive and unproven technology that has never been successfully built out in the US.
(Delegate Daniel Marshall) Allows Dominion and Appalachian Power to recover development cost for small-scale nuclear reactors, forcing ratepayers to pay for an extremely expensive and unproven technology that has never been successfully built out in the US. Companion to SB454. Stricken from docket by House Labor & Commerce.
(Delegate Israel O’Quinn) Allows Appalachian Power to charge ratepayers for the development of a small-scale nuclear reactor.
Take Action
Ask your legislators to oppose ratepayer ripoff by saying no to SB454 and HB1491 through Appalachian Voice’s pre-filled email form.