The first nuclear power project in the U.S. featuring a small modular reactor has been canceled after a 53% surge in costs. The company behind it, NuScale Power Corp., was building the reactor in partnership with the Utah Associated Municipal Power Systems. Initially, the cost of the electricity produced in the small modular reactor was calculated at $58 per megawatt-hour but over time this rose by 52% to $89 per megawatt-hour, according to energy NGO the Institute for Energy Economics and Financial Analysis, as quoted by Bloomberg. The news outlet…
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