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Dominion Energy (NYSE:D) said Wednesday it has issued a request for proposals from leading smaller modular reactor nuclear companies to evaluate the feasibility of developing an SMR at its North Anna power station in Virginia.
While the RFP is not a commitment to build an SMR at North Anna, it is an important first step in evaluating the technology and the site to support future energy needs, the company said.
Dominion (D) also said it plans to seek cost recovery for SMR development, capping the additional cost for a typical residential customer at $1.40/month.
Clean energy facilities, including nuclear plants, are eligible for tax credits under the Inflation Reduction Act, which aims to decarbonize the U.S. power sector.
“As Virginia’s need for reliable and clean power grows, SMRs could play a pivotal role in an ‘all-of-the-above’ approach to our energy future,” Chair, President and CEO Robert Blue said.