What’s to Come for Nuclear in 2024

The news is coming in hot and fast in 2024; election season is underway, The Bear did well at the Golden Globes, Britain announced plans to invest over 300 million pounds in next-gen nuclear fuel, and NEI published a review of 2023. Great start to the year for fans of Ayo Edebiri and fans of clean energy. As much as I’d like to talk about the Globes, we’re going to look at a few things coming to the nuclear energy industry in 2024.  

The First-Ever Nuclear Summit 

Late last year, it was announced that the International Atomic Energy Agency (IAEA), in conjunction with Belgium, would be hosting the first-ever nuclear energy summit in Brussels from March 21-22 of 2024. Coming on the heels of the “nuclear COP” last year, this is an opportunity for nuclear experts and government officials around the globe to meet and develop plans to increase nuclear energy all over the map. The IAEA and Belgium say this summit is a chance to “highlight the role of nuclear energy in addressing the global challenges to reduce the use of fossil fuels, enhance energy security and boost economic development.” 

Vogtle 4 

Last year, we saw Vogtle 3 go live in Waynesboro, GA, as the first advanced nuclear reactor in the United States. This year, Vogtle 4 is expected to go live with Southern Company saying in August of 2023: “the process to load fuel into the Unit 4 reactor began, marking a significant milestone toward startup and commercial operation [...] Vogtle Unit 4 is projected to be placed in service during the late fourth quarter of 2023 or the first quarter of 2024.” When it hits the grid, it will join Vogtle 3 in providing energy to customers in the state of Georgia. This is just another step toward our clean energy future. 

Increased HALEU Capacity  

This past year we saw the production of the first 20 kilograms of high-assay, low-enriched uranium (HALEU) in the U.S. by Centrus Energy. And in 2024, Centrus expects to increase production to 900 kilograms. On top of this, the U.S. recently (on January 9th) showed their commitment to new reactors with the DOE issuing “a request for proposals (RFP) for uranium enrichment services to help establish a reliable domestic supply of fuels using high-assay low-enriched uranium (HALEU).” There aren’t just steps being taken to make more HALEU in the United States—there is work being done abroad as well. Britain, as part of the aforementioned £300 million investment, will be financing domestic production of HALEU. They expect their first production plant to be operational by the early 2030s.  

Future Legislation 

In 2024, we can look to utilize the progress made in 2023 and do more work with policymakers across the federal and local governments to increase nuclear energy in the United States. Speaking on this to Utility Dive, NEI Senior Vice President of Policy Development and State Affairs John Kotek said, “We hope to see continued momentum around legislative issues like expanding energy standards, repealing prohibitions and moratoriums on new nuclear energy, removing regulatory impediments, and modernizing market structures.”  

Last year, we saw broad bipartisan support from the Administration to Congress for the nuclear industry as we look to increase reliable, carbon free energy in the United States and throughout the world. As we enter the new year, we are hopeful to see legislation pass to increase domestic production of LEU and HALEU fuel. We are also optimistic Congress will continue to focus on legislation that streamlines permitting for new reactors without sacrificing safety.  

The future is bright in the world of nuclear energy, and 2024 has the potential to be a major accelerant for the industry.