A $120 Billion Westinghouse Reactor Plan Is Taking Shape. Here’s What History Says Happened the Last Time the U.S. Built Them.

The U.S. and South Korea have signed a framework agreement to invest up to $120 billion in building eight nuclear reactors on federal sites, with Westinghouse providing design, engineering, and procurement services. Unlike the previous AP1000 builds that cost over double their estimates and bankrupted Westinghouse, this time the company bears no fixed-price cost risk and receives service fees instead. Investors in Brookfield Renewable and Cameco, which co-own Westinghouse, should monitor whether definitive agreements materialize and how cost risks are structured.