Indiana needs to slow its roll when it comes to small nuclear reactors: Reports

Indiana lawmakers are right to explore new energy solutions, but House Bill 1007, which accelerates the adoption of small modular nuclear reactors (SMRs), raises significant concerns as it moves through the Senate. While offering a 20% tax credit for reactor manufacturers could attract jobs and investment, the bill’s provision allowing utilities to recover development costs before securing a certificate of public convenience and necessity places an undue financial burden on ratepayers. Given the unproven nature of SMRs in the U.S., the Senate must ensure that innovation does not come at the expense of Hoosiers’ wallets, write the Journal Gazette.

Nuclear energy could play a role in Indiana’s future, but it should not come at the cost of bypassing regulatory safeguards. SMRs remain largely theoretical, with no operational units in the U.S. and a history of cost overruns and failed projects, such as the abandoned NuScale SMR project in Idaho. Indiana has already witnessed the financial fallout of nuclear missteps, as seen with the Marble Hill Nuclear Power Station’s $2.8 billion failure. Instead of shifting risk onto consumers, the state should require private investors to bear the financial responsibility of SMR development while ensuring a balanced approach that includes renewables.