The state of nuclear power in 2026

There was a renewed burst of enthusiasm for nuclear power a few years ago. In Australia, it was confined to the political right and didn’t last long, but elsewhere support was broader. Most notable was the 2023 commitment by more than 20 countries, led by the US, UK and France, to triple global nuclear capacity by 2050. In the three countries mentioned, that would imply building 330 GW of new capacity as well as replacing retiring capacity. So far, this commitment has produced only one final investment decision, for two reactors at Sizewell C in the UK. Construction is expected to start in 2027, with commercial operation in the late 2030s at best. After that, there are no large plants even on the drawing boards in the UK. A few sites have been identified, and there’s a proposal for some half-size reactors (called SMRs but not actually modular or very small) to be built by Rolls-Royce. These don’t even have a prototype yet. France is a few steps behind. Three sites have been…