NuScale and UAMPS terminate Carbon Free Power Project — first U.S. SMR attempt collapses

NuScale Power and Utah Associated Municipal Power Systems mutually terminated the Carbon Free Power Project, NuScale's only U.S. commercial deployment attempt. Projected overnight construction costs had risen from $3 billion in 2015 to $9.3 billion by 2023, after the plant was scaled from 12 modules to six modules. The projected electricity price rose from $55 per megawatt-hour to $119 per megawatt-hour, exceeding the threshold UAMPS members had agreed to pay. The Department of Energy had committed $1.355 billion in cost-share; roughly $50 million was obligated at termination.