Thinking Big About Small: Market Dynamics to Enable Successful SMR Deployment in Canada

Abstract

The smallest Small Modular Reactors (SMRs), often referred to as µreactors or nuclear batteries, have the potential to help Canada achieve a number of social policy objectives, including GreenHouse Gas (GHG) avoidance and the delivery of plentiful power to remote northern and indigenous communities. At the same time, they could create significant economic benefit through their export potential. The shift in paradigm, relative to today’s nuclear industry, will be greatest for these small units when deployed into northern and indigenous communities. Market dynamics – how this market pulls technology demand and approaches fleet procurement – will be critical to successful fleet deployment and sustainability. In turn, these market dynamics will depend on the degree of coordination among customers. Options include:

• No or minimal market coordination
• Inter/Intra-jurisdictional (e.g. provincial, territorial, First Nation) market coordination
• National market coordination

These different approaches are described and their pros and cons assessed.