Small Reactor, Big Price

We have an unusual episode today. One, because of its length (1
hour 40 minutes), and two, because I’m the guest. Joined by Aidan
Morrison as acting host, I talk about a topic of intense interest
to me: the Darlington SMR project in Ontario,
Canada. I’ve been critical of this SMR project, which
recently received its final investment decision, by calling for a
pivot to CANDU reactors at the site.


I use this episode to break down all my reasons for being
critical, and to concede ground to this bold SMR project where
earned. This is not the first place I’ve shared my reasoning
(media interview here, LinkedIn post there), but it is the most
in-depth.


If you have time to listen to the full thing, I promise you will
leave quite knowledgeable about the ambitious and capable Ontario
nuclear sector, which I’ve studied and engaged with for years.


Prompting this episode was the OPG’s final investment decision on
the SMR and the revelation of its eye-watering cost estimates. I
break down the $4.5 billion price tag for the first unit, the
expected learning that will take place, and share why this
represents not just a technical and economic challenge, but a
strategic mistake that could undermine Canada’s competitive
advantage in nuclear power. From the massive excavation
challenges of burying a reactor ten stories underground to the
national security risks of abandoning proven CANDU technology for
American designs, I hope to share some of the hard truths behind
the SMR hype.


Read extended shownotes on Substack.


Watch now on
YouTube.