Gov. Youngkin and Dominion Energy seek to develop small nuclear reactor in Virginia

Gov. Glenn Youngkin ceremonially signed legislation Wednesday intended to encourage the development of a small modular nuclear reactor in Virginia.

“In a world where we see an increasing demand for power, Virginia has an excess of one incredible important attribute — innovation,”  Youngkin said at a news conference at Dominion Energy’s North Anna Power Station in Louisa County. “We in fact can lead in developing the next generation.”

The bipartisan legislation allows Dominion Energy to petition the State Corporation Commission for approval of a rate adjustment to recover costs of developing such a reactor.

It further permits the utility to petition the commission for project development cost recovery along separate development phases. It has an expiration date of Dec. 31, 2029.

Youngkin said it was important to take an “all of the above” approach when it came to energy.

“Nuclear power is clean, nuclear power is baseload power and nuclear power is critical to our future,” he said. “Over the last two years, everyone has rolled up their sleeves and embraced innovation and growth. Virginia can meet its growing power needs.”

The governor has been a strong advocate for nuclear energy, with his state energy plan in 2022 pushing for the development of a small modular reactor.

Robert Blue, president and chief executive officer of Dominion Energy, announced Wednesday that the company is seeking request for proposals from companies to evaluate the feasibility of developing a small modular reactor at the North Anna Power Station.

Blue said this was not a commitment to building the reactor, but described it as a crucial first step.

“For generations, nuclear energy has been the most reliable workhorse of our fleet and the largest source of zero-carbon power in Virginia,” he said. “SMRs could play an equally pivotal role in our energy future. Along with off-shore wind, solar, natural gas and battery storage, SMRs have the potential to be an important part in Virginia’s growing, clean, reliable and affordable energy mix.”

Small modular reactors have a power capacity of up to 300 MW(e) per unit, which is about one-third of the generating capacity of traditional nuclear power reactors, according to the International Atomic Energy Agency.

The agency’s website explains the reactors can produce a large amount of low-carbon electricity.

“Many of the benefits of SMRs are inherently linked to the nature of their design – small and modular,” it states. “Given their smaller footprint, SMRs can be sited on locations not suitable for larger nuclear power plants.”

Katie King, katie.king@virginiamedia.com