We have new builds in Europe of the EPR, in France and Finland, and it has had disastrous costs. China has built some too, presumably cheaper, since they keep on building more. What is the regulatory difference there?
I have yet to find any concrete defense of the idea that costs are coming from regulation, rather than the costs of construction in advanced economies.
If regulations are the cost, name them and a solution. Otherwise it seems like we are wasting efforts in optimizing the wrong thing for nuclear.
However, I’m not sure I want private for profits actor deciding the level of safety of such projects.
I don't think China is building them any less safe. I don't think the regulations are significantly different.
I don't think any of the designers of the nuclear reactors want to build them any less safely, either, because they are not asking for that.
Many of the "safety" stuff is also about prolonging longevity of the reactor as long as possible. Like really inspecting the welds on tubing, etc. Any reduction in safety there also ultimately increases costs by reducing the lifetime of the plant or heavily increasing maintenance costs.
That's why I don't think this is a tradeoff between safety and cost. I think it's a tradeoff between construction/design competence and cost.