Focus: New reactors set to radically transform the nuclear insurance market

A revolution in nuclear power is now under way. Small modular reactors (SMRs), units based on new and existing technologies, will radically change the economics of nuclear electricity. Now in advanced development, SMRs deliver power ranging between 10 and 300 megawatts (compared to 3,200 MWe for the planned Sizewell C, enough for 7% of UK electricity demand). The smallest SMR could be transported on a wagon. Manufacturers are currently experimenting with roughly 70 different designs.