It’s really not, nuclear inherently requires extreme costs to operate. Compare costs vs coal which isn’t cost competitive these days. Nuclear inherently need a lot more effort refining fuel as you can’t just dig a shovel full of ore and burn it. Even after refining you can’t just dump fuel in, you need fuel assemblies. Nuclear must have a more complicated boiler setup with an extra coolant loop. You need shielding and equipment to move spent fuel and a spent fuel cooling pond. Insurance isn’t cheap when mistakes can cost hundreds of billions. Decommissioning could be a little cheaper with laxer standards, but it’s never going to be cheap. Etc etc.
Worse, all those capital costs mean you’re selling most of your output 24/7 at generally low wholesale spot prices unlike hydro, natural gas, or battery backed solar which can benefit from peak pricing.
That’s not regulations that’s just inherent requirements for the underlying technology. People talk about small modular reactors, but small modular reactors are only making heat they don’t actually drive costs down meaningfully. Similarly the vast majority of regulations come from lessons learned so yea they spend a lot of effort avoiding foreign materials falling into the spent fuel pool, but failing to do so can mean months of downtime and tens of millions in costs so there isn’t some opportunity to save money by avoiding that regulation.
You have to take scale into account. This is 20 years of spent fuel.
https://npr.brightspotcdn.com/dims4/default/cca0b8d/21474836...
That's it. 20 years. Just that, for a constant, quiet output of just about a gigawatt. And that's an old, decommissioned reactor.
You're right about nuclear fuel refinement, packaging, and so on being non-trivial, but the amount of it that you need is so miniscule that if you don't talk about volume you paint a misleading picture.
> small modular reactors are only making heat they don’t actually drive costs down meaningfully.
Mass production makes anything cheaper. Ask the French about their efficient reactor program.
For more comparison, France produces about 2kg of radioactive waste per year, which delivers 70% of the country's electricity. If you removed all nuclear power reactors you'd still be generating 0.8kg of radioactive waste[2]. It'll work it's way out to on the order of (i.e. approximately) a soda can per person per year.
I think people grossly underestimate the scale of waste in many things. Coal produces train loads a day (including radioactive and heavy metals), while nuclear produces like a Costco's worth over decades. The current paradigm of "we'll store it on sight and figure it out later" isn't insane when we're talking about something smaller than a water tower and having about 300 years to figure out a better solution.
On the flip side, people underestimate the waste of many other things. There are things much worse than nuclear waste too. We spend a lot of time talking about nuclear waste yet almost none when it comes to heavy metals and long lived plastics. Metals like lead stay toxic forever and do not become safer through typical reactions. We should definitely be concerned with nuclear waste, but when these heavy metal wastes are several orders of magnitude greater, it seems silly. When it comes to heavy metals (lead, mercury, cadmium, arsenic, etc) we're talking about millions of tonnage. These things are exceptionally long lived, have shown to enter both our water supply and atmosphere (thanks leaded gasoline!), and are extremely toxic. It's such a weird comparison of scale. Please take nuclear waste seriously, but I don't believe anyone if they claim to be concerned with nuclear waste but is unconcerned with other long lived hazardous wastes that are produced in billions of times greater quantities and with magnitudes lower safety margins.
[0] https://x.com/Orano_usa/status/1182662569619795968
[1] https://www.youtube.com/watch?v=_5uN0bZBOic&t=105s
[2] https://www.orano.group/en/unpacking-nuclear/all-about-radio...
... per capita. Sure, all other waste is bigger than that, but it is still a whole lot and still, usually, power companies do not have to pay for it, the country does. I wonder why.