Earlier quoted context omitted.
Existing already-operating nuclear plants can barely compete with cheap fracked gas in the United States. Capital investment in new nuclear is never going to pencil for a private operator without carbon taxes or enormous price drops.
The existing regulatory structure for nuclear power was designed for the previous generation of reactors. I don’t have deep knowledge in this area, but it’s clear to me that more modern designs have very different risk profiles, and the regulatory structure should change to reflect that. This should reduce the compliance cost, which is a very large portion of the initial and operational costs of nuclear power. In sho…
It was designed specifically to bankrupt them. It was designed to make them unprofitable.
Just changing an ordinary light bulb in a nuclear power plant is all sorts of certification and paperwork.
There was a ratchet effect on regulations. You could always add more, but nobody would take responsibility for removing regulations. The existence of regulations makes the reactors seem even more terrifying (because why else need the regulations) and then the resulting terror was used to justify more regulations.