Dartmouth Policy Research Shop Presentation

Nuclear Electricity Expansion in New Hampshire

The Dartmouth Policy Research Shop report can be downloaded from:
https://rockefeller.dartmouth.edu/report/nuclear-electricity-expansion-new-hampshire

Summary of the Video Conference:

The meeting focused on the commission’s study of advanced nuclear technology. Dr. Michael Wales presented a recently published policy brief compiled by the Policy Research Shop at Dartmouth and introduced the students responsible for the research. Zanna Stutz, Fiona Hood, and Eason Ma presented their findings on nuclear electricity expansion in New Hampshire, covering the nuclear energy industry’s historical development, current state, and potential for future expansion. They also discussed the challenges and opportunities for incorporating innovative nuclear technologies in New Hampshire, including small modular reactors, and the relevant federal legislation passed to aid nuclear development.

The speakers also delved into the evolution of New Hampshire’s energy system, detailing the shift to a deregulated model and the influence of ISO New England in administering the wholesale market and grid operations. They emphasized the significant role of nuclear energy in New Hampshire’s energy generation and the prevalence of natural gas across the ISO New England region. The discussion also touched upon the plant’s impending decommissioning and associated costs, providing a comprehensive understanding of Seabrook Station’s complexities.

The meeting also discussed the challenges of cost overruns in energy infrastructure projects and the potential solutions offered by Small Modular Reactor (SMR) technology. The conversation underscored the need for further research and exploration of SMR technology to address cost overruns in energy infrastructure projects. The meeting concluded with a call for further collaboration and information sharing, with contact details provided for those interested in following up on the discussion.

Overall, the meeting provided a comprehensive overview of the nuclear energy industry, its potential for future expansion, and the challenges and opportunities for incorporating innovative nuclear technologies in New Hampshire. The speakers emphasized the significant role of nuclear energy in New Hampshire’s energy generation and the need for strategic policy initiatives to enable a sustainable, reliable, and diverse energy future in New Hampshire, with a focus on promoting nuclear power within the energy market.

Topics:

Introduction and Project Overview

Rep. Keith Ammon initiated the meeting, allowing time for participants to join and get set up. He then introduced the purpose of the meeting, which was to present a report on advanced nuclear technology. Dr. Michael Wales shared the newly published policy brief and introduced the students who conducted the research.

• Impact of Nuclear Energy on the Energy System in New Hampshire

Overview of Nuclear Energy and Research Findings

Zanna Stutz, Fiona Hood, and Eason Ma discussed the history and current state of nuclear energy production in the United States, with a focus on New Hampshire’s involvement. They highlighted the challenges and benefits of nuclear energy generation and the potential for expansion in the 21st century, particularly in the context of New Hampshire’s deregulated energy market.

• Overview of the Nuclear Industry
• Financial Viability of Nuclear Energy
• Nuclear Electricity Expansion in New Hampshire

Legislation Impacting Nuclear Energy

Fiona Hood outlined the significant impact of legislative acts on the nuclear energy sector, including the Energy Policy Act of 2005, the Nuclear Energy Innovation and Modernization Act of 2019, and the Inflation Reduction Act of 2022. These acts introduced measures such as production tax credits, loan guarantees, and tax incentives for advanced nuclear reactors, with the goal of promoting efficiency, transparency, and independence in the industry. Additionally, the Inflation Reduction Act of 2022 included provisions for researching sources of high-assay, low-enrichment uranium (HALEU) to reduce reliance on Russian sources and lower operational costs for U.S. advanced reactors.

Energy System in New Hampshire and Comparison of Energy Generation Profiles

Zanna Stutz provided an overview of New Hampshire’s transition to a deregulated energy system, the role of ISO New England, and the impact of the Community Power Law on energy procurement. She also emphasized the significant contribution of nuclear energy to New Hampshire’s energy generation and the dominance of natural gas across the ISO New England region.

Nuclear Power Plant Case Studies

Zanna Stutz provided an overview of Plant Vogel’s cost challenges and financing, emphasizing its impact on ratepayers and the state’s energy landscape. Eason Ma then discussed the carbon-free power project by New Scale Power LLC and the Utah Associated Municipal Power System, outlining its cost challenges, rising consumer burden, and eventual cancellation.

Seabrook Station Case Study

Fiona Hood provided a comprehensive overview of Seabrook Station, highlighting its history, operational significance, financial challenges, and future potential. She discussed the plant’s role in the power supply of New England, the impact of nuclear technology on the wholesale market, and the expected decommissioning costs. Additionally, she mentioned the potential for advanced nuclear technology to benefit the existing infrastructure.

State Policy Options for New Hampshire

Zanna Stutz presented four state policy options for New Hampshire:

• Potential for a clean energy standard to promote advanced nuclear reactor technology
• Expanding workforce development and public outreach
• Investing in transmission networks to support energy development
• Leveraging federal programs to support nuclear energy initiatives

Introductions and Presentation Feedback

Zanna Stutz, Eason Ma, and Fiona Hood introduced themselves and discussed their impressions of the energy and nuclear project. They expressed interest in the subject matter and shared their insights on the role of nuclear energy in sustainable energy systems. Additionally, Kristin Smith, the director of the Policy Research Shop, provided an overview of the organization’s work and invited the team to consider future research projects.

Discussion on Cost Overruns and SMR Technology

Rep. Carry Spier and Eason Ma discussed the persistent problem of cost overruns in energy infrastructure projects. Eason Ma shared insights from a macroeconomic class, emphasizing that cost overruns are not unique to nuclear projects but occur across various energy sectors. He explained the potential of SMR technology to mitigate cost overruns due to its flexibility, pre-manufactured design, and reduced geographical concerns.

Discussion on Nuclear Energy and Renewable Resources

Rep. Mike Harrington challenged the impact of market pressures on Seabrook Station, questioned the dynamics of the push for carbon-free energy, and raised concerns about the viability of nuclear investment in New England. Fiona Hood discussed the challenges of investing in nuclear energy in New Hampshire, the potential gap in energy production after Seabrook’s expiration in 2050, and the limitations of renewable energy resources in the state.

Discussion on Nuclear Energy and Future Prospects

Rep. Mike Harrington and Zanna Stutz discussed the current research on nuclear energy projects and the potential for future developments. Joshua Elliott from the N.H. Department of Energy raised concerns about public opposition driving cost overruns, while Paul Gunter from Beyond Nuclear highlighted the nuclear industry’s historical challenges. The conversation also explored the idea of using existing power plants as a launch point for SMR technology.