Governments could support a rapid reduction in the cost of new nuclear capacity by creating policies that use hard‑won industrial capabilities developed by the nuclear industry in recent years and by making quick decisions about new-build, the Nuclear Energy Agency (NEA) concluded in a new report.

The report, ‘Unlocking Reductions in the Construction Costs of Nuclear: A Practical Guide for Stakeholders’, said it is time for action if countries are to meet their decarbonisation and energy security policy goals. Nuclear energy can play a key role in meeting these objectives – but only if the cost of new nuclear build is economic and policymakers are quick to take key decisions on new projects.

Financial costs are central to cost reduction efforts, as they can represent more than 80% of capital expenditures. They can be reduced with a lower cost of capital and shorter lead times