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America's Unbuilt Reactors

America's Unbuilt Reactors

Regulatory Burden and Cost Overruns Kill US Nuclear Projects While Competitors Build Faster and Cheaper

Overview

The United States has cancelled more nuclear reactors than any other country has ever built. Of 253 reactors ordered between 1953 and 2008, only 27% are still operating—48% were cancelled outright, 11% shut down early. The last reactor ordered before a 34-year gap was in 1978, one year before Three Mile Island.

This isn't just history. In November 2023, NuScale cancelled the only SMR project with NRC approval after costs tripled to $9.3 billion. The Vogtle expansion, completed in 2024, ran $21 billion over budget and seven years late. South Korea builds reactors for $2,200 per kilowatt; the US now spends $15,000. The gap isn't technology—it's institutional.

Key Indicators

120+
Reactors Cancelled
Commercial reactor orders abandoned since 1953, representing 150-200 GW of lost capacity
$35B
Vogtle Final Cost
Original estimate was $14 billion; completed 7 years late in 2024
7x
US vs. Korea Cost Gap
US construction costs of $15,000/kW versus South Korea's $2,200/kW
3
New Reactors Since 2000
Watts Bar 2 (2016), Vogtle 3 (2023), Vogtle 4 (2024)—China has 27 under construction

People Involved

JH
John Hopkins
NuScale Power CEO (Leading company after CFPP cancellation)
Chris Wright
Chris Wright
Secretary of Energy (Leading Trump administration's nuclear expansion push)
Tim Echols
Tim Echols
Vice Chair, Georgia Public Service Commission (Advocate for federal financial backstops)

Organizations Involved

Nuclear Regulatory Commission
Nuclear Regulatory Commission
Federal Agency
Status: Under executive order mandate for reform

The NRC licenses and regulates civilian nuclear reactors, with authority over construction permits, operating licenses, and safety standards.

NuScale Power
NuScale Power
Nuclear Technology Company
Status: First NRC-certified SMR developer, seeking new projects after CFPP cancellation

Oregon-based company that developed the first small modular reactor to receive NRC design certification.

TerraPower
TerraPower
Nuclear Technology Company
Status: Building first advanced reactor at Kemmerer, Wyoming

Bill Gates-founded company developing the Natrium sodium-cooled fast reactor.

Timeline

  1. Regulatory Burden Pattern Continues

    Analysis

    US nuclear development remains constrained by construction costs 5-7 times higher than international competitors, perpetuating a 46-year pattern of cancellations.

  2. TerraPower Safety Review Complete

    Regulatory

    NRC finishes Natrium reactor safety evaluation one month early. Construction license expected early 2026.

  3. Trump Signs Nuclear Executive Orders

    Policy

    Four executive orders mandate NRC reform, 18-month licensing deadlines, and goal of 400 GW capacity by 2050.

  4. Vogtle Unit 4 Operational

    Construction

    Final Vogtle expansion unit enters service. Total project cost: $35 billion, 150% over budget.

  5. NuScale CFPP Cancelled

    Cancellation

    NuScale and UAMPS terminate the Carbon Free Power Project after costs triple. Only 26% of required subscriptions secured. Stock drops 42%.

  6. Vogtle Unit 3 Operational

    Construction

    First new US reactor since 2016 enters commercial operation, seven years behind original schedule.

  7. NuScale Price Jumps 53%

    Financial

    Target electricity price rises from $55/MWh to $89/MWh as construction cost estimate climbs to $9.3 billion.

  8. NuScale SMR Design Certified

    Regulatory

    NRC issues first-ever design certification for a small modular reactor after multi-year review.

  9. Duke Energy Cancels Lee Project

    Cancellation

    Duke abandons planned reactors in South Carolina after spending $471 million on licensing and pre-construction.

  10. V.C. Summer Abandoned

    Cancellation

    SCANA and Santee Cooper halt $9 billion project after only 8% completion. Ratepayers left paying for unfinished plant for 15+ years.

  11. Westinghouse Bankruptcy

    Financial

    Reactor manufacturer files Chapter 11 citing $9 billion in losses from Vogtle and V.C. Summer projects.

  12. Vogtle Construction Begins

    Construction

    Georgia Power starts building Units 3 and 4. Original budget: $14 billion. Target completion: 2016-2017.

  13. V.C. Summer Expansion Licensed

    Regulatory

    NRC approves combined construction and operating license for two AP1000 reactors in South Carolina. Estimated cost: $9.8 billion.

  14. Energy Policy Act Passes

    Legislation

    Congress creates new tax incentives, loan guarantees, and streamlined licensing intended to spark 'nuclear renaissance.'

  15. Kemeny Commission Report Released

    Investigation

    Presidential commission finds failures in personnel training, design, and emergency response. Triggers sweeping regulatory reforms.

  16. Three Mile Island Partial Meltdown

    Accident

    Unit 2 reactor near Middletown, Pennsylvania experiences partial core meltdown. No detectable health effects, but public support for nuclear drops from 69% to 46%.

Scenarios

1

Advanced Reactors Break the Pattern

Discussed by: Department of Energy, nuclear industry analysts, BloombergNEF

TerraPower, Oklo, and other advanced reactor developers successfully deploy demonstration plants by 2030, proving new designs can be built on schedule. Executive order reforms reduce NRC licensing timelines. Tech company demand for clean data center power creates reliable customers willing to sign long-term contracts. Construction learning accumulates as multiple units use standardized designs.

2

History Repeats: Advanced Projects Collapse

Discussed by: Union of Concerned Scientists, anti-nuclear analysts, some academic researchers

TerraPower and other advanced reactor projects face the same cost escalations that killed NuScale CFPP. Rising interest rates, supply chain constraints, and regulatory discoveries during construction push costs beyond projections. Tech companies pivot to renewables plus storage. The US abandons another generation of nuclear technology.

3

Foreign Vendors Capture US Market

Discussed by: Energy economists, South Korean nuclear industry, infrastructure cost researchers

Unable to build domestically at competitive costs, US utilities import reactor designs and construction management from South Korea or other experienced builders. Korean EPC contractors lead projects as they've done in the UAE. US regulatory framework adapts to accommodate foreign designs, but domestic supply chain atrophies further.

4

Regulatory Reform Stalls, Status Quo Persists

Discussed by: NRC staff, environmental groups, regulatory law scholars

Executive orders face legal challenges or implementation resistance. NRC career staff interpret mandates narrowly. Safety advocates successfully argue that accelerated timelines compromise oversight. The 18-month licensing deadline becomes 36 months in practice. Construction costs remain at $15,000/kW while competitors build at $3,000/kW.

Historical Context

France's Nuclear Sprint (1974-1987)

March 1974 - 1987

What Happened

Prime Minister Pierre Messmer announced the 'Messmer Plan' after the 1973 oil crisis, committing France to an all-nuclear electricity strategy. Électricité de France built 37 reactors in ten years using a single standardized design from Framatome. EDF controlled engineering, imposed rigorous cost discipline, and built in fleets of 8-12 identical units.

Outcome

Short Term

France went from 75% oil dependence to energy independence within 15 years. Construction costs stayed at one-third to one-half of contemporary US projects.

Long Term

Nuclear provides 70% of French electricity today. France became Europe's largest electricity exporter. The standardization model remains the benchmark for successful nuclear buildouts.

Why It's Relevant Today

The US pursued the opposite approach—multiple reactor designs, fragmented supply chains, project-by-project customization—and got opposite results. France built 37 reactors while the US cancelled 120.

Washington Public Power Supply System Default (1983)

1983

What Happened

WPPSS (pronounced 'Whoops') defaulted on $2.25 billion in municipal bonds after abandoning construction of two nuclear plants in Washington state. The consortium had originally planned five reactors; only one was completed. Cost estimates quintupled from initial projections.

Outcome

Short Term

The largest municipal bond default in US history until Detroit in 2013. Investors lost billions; ratepayers faced decades of debt payments for unfinished plants.

Long Term

The default made utilities and investors deeply risk-averse toward nuclear construction, contributing to the 34-year gap in new orders.

Why It's Relevant Today

The WPPSS pattern—optimistic cost estimates, subscription-dependent financing, cost escalations driving subscriber withdrawals—repeated almost exactly with NuScale's CFPP forty years later.

South Korean Nuclear Standardization (1978-Present)

1978 - Present

What Happened

South Korea adopted France's fleet-based approach, developing two domestically designed reactor generations and building 8-12 units of each. KEPCO maintains centralized project management. The country now builds reactors for roughly $2,200/kW—one-seventh of US costs.

Outcome

Short Term

South Korea achieved 31.7% nuclear electricity share. Construction times fell consistently as experience accumulated.

Long Term

Korean companies won the $20 billion UAE Barakah contract over established Western competitors. Korea is positioned as a nuclear exporter while the US imports reactor components.

Why It's Relevant Today

Korea proves the cost gap isn't inevitable. The difference is institutional: standardized designs, experienced supply chains, regulatory stability, and fleet-based learning curves.

15 Sources:
+9
Wikipedia E&E News/Politico Clean Air Task Force Bloomberg US Energy Information Administration White House The Regulatory Review Nuclear Regulatory Commission World Nuclear Association Institute for Progress Nuclear Newswire Works in Progress Wikipedia Wikipedia Bloomberg