"Nuclear Energy Projects in Idaho and Utah Canceled as Costs Surge"

NuScale Power has announced the cancellation of its Carbon-Free Power Project, which aimed to deliver six small nuclear reactors in Idaho. The project failed to attract enough utility customers, despite more than two dozen utilities signing up to buy electricity from the reactors. The decision to cancel the project was influenced by the rising cost of building the reactors, which had increased to $9.3 billion from $5.3 billion due to rising interest rates and inflation. NuScale's stock price fell over 20% in after-hours trading, and the company plans to repurpose materials developed for the project for other customers.