UK’s Small Modular Reactor Race: Final Four Revealed

The UK's push for nuclear energy is heating up as Great British Nuclear (GBN) narrows down its Small Modular Reactor (SMR) competition to four key contenders. With the government backing SMRs to meet energy demands and decarbonisation goals, this development marks a pivotal moment in the UK’s nuclear strategy.

What happened

GBN has selected four companies to move forward in its competition to design and build SMRs:

• GE-Hitachi

• Holtec Britain

• Rolls-Royce SMR

• Westinghouse Electric Co.

These firms now enter negotiations with GBN, with the winners expected to be announced by the end of 2024. The successful bidder(s) will secure contracts to build their SMRs in the UK, with the government offering two-stage design, development, and construction deals.

Why it matters

SMRs are seen as a key solution to the UK's energy needs and its ambitious 2050 decarbonisation targets, aiming for 25% of electricity from nuclear power. Unlike traditional reactors, SMRs are smaller, quicker to build, and less expensive. They promise:

• Cleaner energy: SMRs can help reduce reliance on fossil fuels.

• Cost efficiency: Faster deployment avoids the delays and high costs typical of large nuclear projects.

• Energy security: SMRs can provide a stable power source to complement renewables like wind and solar.

By the numbers

• The competition could unlock £20 billion in public and private investment.

• SMRs produce up to 300 MWe each, a fraction of the output from traditional nuclear reactors but scalable.

• The nuclear industry contributed £6.1 billion to the UK economy in 2023.

Zoom in

Each of the final four contenders brings unique strengths:

• GE-Hitachi: Leveraging its BWRX-300, with work already underway in Canada, this company aims to fast-track its design for the UK.

• Rolls-Royce: The only UK-based finalist, Rolls-Royce is ahead of its competitors in regulatory approvals. Already selected for projects in the Czech Republic and Sweden, it’s banking on success in its home market.

• Westinghouse: Its AP300 is based on the proven AP1000 reactor, currently operational in the US and China, promising a quicker path to market.

• Holtec Britain: Known for its compact SMR-160 design, Holtec emphasises the simplicity and safety of its reactors, particularly their air-cooled system, which avoids the need for a large water source - a key advantage for flexibility in siting.

What's next

The race will intensify as the finalists refine their proposals. GBN is expected to announce the winning SMR design(s) before the end of 2024. Even firms that don’t secure a government contract could still pursue private deployments in the UK, keeping competition fierce.

Bottom line

The UK's nuclear future is taking shape. With SMRs leading the charge, this competition is a key step toward securing cleaner, cheaper, and more reliable energy.