Assessing the Implications of Integrating Small Modular Reactors in Modern Power Systems

Christos K. Simoglou (), Ioannis M. Kaissas and Pandelis N. Biskas
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Christos K. Simoglou: School of Mechanical Engineering, International Hellenic University, GR 62124 Serres, Greece
Ioannis M. Kaissas: School of Electrical and Computer Engineering, Aristotle University of Thessaloniki, GR 54124 Thessaloniki, Greece
Pandelis N. Biskas: School of Electrical and Computer Engineering, Aristotle University of Thessaloniki, GR 54124 Thessaloniki, Greece

Energies, 2025, vol. 18, issue 10, 1-28

Abstract: This paper investigates the long-term impact of integrating emerging Small Modular Reactors (SMR) in modern power systems. A chronological simulation of the Greek day-ahead market and real-time balancing market with fine time granularity is conducted for a future 20-year period (2032–2051) under four SMR penetration scenarios using a specialized integrated market simulation software. Simulation results indicate that SMR units can be regarded as a promising electricity generation solution in the forthcoming energy transition landscape. The introduction of up to 3 GW of SMR capacity is projected to significantly decrease reliance on gas imports by up to 62%, reduce carbon emissions by up to 52%, and lower overall electricity costs for end-consumers by up to 21% as compared to a baseline scenario without SMRs. It is anticipated that SMR units are expected to leverage their operating advantages and generally achieve positive financial results when participating directly in the wholesale market. However, their economic viability is highly dependent on their initial capital expenditure and other operating cost components, which at present are highly uncertain.

Keywords: energy transition; carbon emissions; optimization; renewable generation; small modular reactor; wholesale electricity market (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2025
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