This is an important moment for the future of small modular reactors (SMRs) as we set out in Chapter 3. Following the £500 million Government and investor funded development of an SMR concept through to the beginning stages of regulatory approval. Clarity is needed on the Government’s plans to deploy the technology if it completes the generic design assessment. This includes deciding on what financing model will be made available should the policy be to deploy SMRs in supplying power to the g...

This is an important moment for the future of small modular reactors (SMRs) as we set out in Chapter 3. Following the £500 million Government and investor funded development of an SMR concept through to the beginning stages of regulatory approval. Clarity is needed on the Government’s plans to deploy the technology if it completes the generic design assessment. This includes deciding on what financing model will be made available should the policy be to deploy SMRs in supplying power to the grid. The Contracts for Difference (CfD) model has proved successful in financing and driving down the costs of clean energy. Key to the success of CfDs f Type: conclusion | Number: 44 | Paragraph: 225 | Response status: under_consideration Government response: Hinkley Point C is being funded under the ‘contracts for difference’ (CfD) model where the developers bear all of the risks associated with such projects, particularly in the early development and construction stages with the difficulty of