The nuclear industry must work to restore credibility by delivering new plants on time and on budget in order to bring down challenging capital costs, a report from the International Atomic Energy Agency (IAEA) says.

The Global Nuclear Power Development report for 2026, covering developments in infrastructure, financing, and small modular reactor (SMR) technology, said reducing capital costs was particularly important for new entrants where regulatory experience or supply chains might be lacking.

“Minimising capital cost remains a pressing challenge for the nuclear power sector,” the report said, highlighting project delays and overruns in the US and Europe that had undermined investor confidence and increased the perceived investment risk.