Report Details Texas Plans To Become Global Leader In Advanced Nuclear Power - Bulletin

Wedoany.com Report-Nov 21, A working group has released a 78-page report which details plans to attract a fleet of next generation nuclear power plants to the US state of Texas by offering energy companies low-interest loans that would cover nuclear power plants’ upfront construction costs.

The report, released by the Public Utility Commission (PUCT) of Texas, says Texas could become a global leader in advanced nuclear development and deployment, but getting there will require a new approach to regulating and siting reactors, as well as financial support from the state.

It says the state will realise global market potential by establishing itself as the preferred supplier for US-based advanced reactor technology.

The report also recommends creating a Texas Advanced Nuclear Energy Authority to identify and study obstacles and opportunities to ensuring Texas is the global leader in advanced nuclear energy and technologies.

“Texas has the industrial and developmental needs – from oil and gas production to data centers and a burgeoning Artificial Intelligence sector – with demand growth projected at 8% a year for the next decade,” PUCT commissioner Jimmy Glotfelty wrote in a letter to Texas governor Greg Abbott, a Republican. “Advanced nuclear is a viable solution to lead the way.”

The report includes seven recommendations for state lawmakers, including establishment of a nuclear authority and permitting officer within an existing state agency and a Texas Nuclear Energy Fund to provide development incentives similar to the state’s support for natural gas-fired generation.

In 2023 Abbott directed the PUCT to establish a working group to study advanced nuclear reactors and asked Glotfelty to lead the initiative. The state has been seeking to develop more generating resources in order to meet rapidly growing electricity demand.

The Electric Reliability Council of Texas projects that by 2030 summer peak demand will nearly double the current all-time record of 85 GW set on 10 August 2023, according to the report.

However, “despite the growing need for reliable and firm energy capacity, there are still significant barriers to unlocking private capital,” the report says.

“The lynchpin of a flourishing ANR [advanced nuclear reactor] industry is an investor-friendly environment, one in which developers can accurately assess an ANR project’s risk and plan on a specific return prior to deploying capital.”