3/13/2026 Technology & Services Thought Leadership

Accelerating the Nuclear Renaissance at RIC 2026

Key Takeaways

The NRC as an "Umpire"
Under the mandate of Executive Order 14300 and the ADVANCE Act, the NRC is evolving into an "enabling" partner that weighs societal benefits alongside traditional safety risks.

Strengthening the Nuclear Supply Chain
Panelists discussed the challenges associated with the supply chain's ability to support burgeoning growth tailwinds.

Global Synchronization
RIC 2026 focused on the push for international regulatory alignment to facilitate the deployment of advanced reactors across global markets.

The Workforce Constraint
Rapid acceleration of nuclear power growth could be slowed by labor shortages.

Rob Kaderavek and Andreas Germaschewski of Baird’s Global Power & Energy Investment Banking team recently attended the 38th Annual Nuclear Regulatory Commission (NRC) Regulatory Information Conference (RIC 2026) in Bethesda, Maryland. As the nuclear industry faces a significant renaissance and a demand to deliver abundant clean, baseload energy at a speed not required since the 1950s — both periods defined by a critial need for safe, rapid technological acceleration — the conversation has shifted toward a collaborative "One-Government" approach to facilitating the commercialization of the next generation of carbon-free baseload power, by better aligning the NRC, DoE, and DoW efforts.

The RIC 2026 dialogue moved past high-level policy toward the gritty execution of nuclear expansion projects, alongside national and international synchronization, with several recurring themes defining the path forward:

1. The NRC as an "Umpire"

The industry is not calling for deregulation, but rather smarter regulation. Under the mandate of Executive Order 14300 (issued May 2025) and the ADVANCE Act (July 2024), the NRC is evolving into an "enabling" partner that weighs societal benefits alongside traditional risks.

The Strike Zone: NRC leadership described their role as an "umpire," but one that is actively adjusting the size of the strike zone to accommodate new technologies without compromising safety.
"Safe and Boring": The goal remains to keep nuclear operations safe and "boring", by minimizing mistakes that could hinder the increasingly positive public perception.
Enabling Mandate: Policy is shifting to ensure the NRC acts as an enabler of technology in addition to its traditional safety focus.

2. Strengthening the Nuclear Supply Chain

Panelists discussed the challenges associated with the current supply chain, which needs to quickly scale to meet burgeoning needs.

Certified Supplier Scarcity: There remains a limited pool of adequately certified NQA1 manufacturing suppliers. Until the supply chain can expand adequately, panelists indicated EPCs could begin designing around what suppliers already produce rather than requesting bespoke components that exacerbate already long lead times.
Regulatory Complexity: Complicated regulatory compliance remains a primary driver of supply chain friction and lead times.

3. Global Synchronization

Another theme of RIC 2026 was the push for international regulatory alignment to facilitate the deployment of advanced reactors across global markets. As the "nuclear renaissance" accelerates, regulators in the U.S., Europe and South Korea are increasingly facing identical licensing hurdles for standardized designs.

Transatlantic Cooperation: The NRC and the UK’s Office for Nuclear Regulation (ONR) recently refreshed a Memorandum of Understanding (MoU) specifically designed to cut duplication and fast-track design reviews for advanced reactors.
South Korea’s Strategic Push: Following the passage of the 'SMR Special Act' in February 2026, South Korean regulators (NSSC) have begun formal design reviews for the Innovative Small Modular Reactor (i-SMR), with a focus on synchronizing these standards with U.S. and European frameworks.
EU SMR Coalition: The European Commission has unveiled a strategy for an 'SMR Coalition' to coordinate regulatory and economic policy for interested EU member states, aiming to bring the first designs online by the early 2030s.

4. The Workforce Constraint

The aging of experienced nuclear workers is causing the war for talent to become more acute and intense.

Craft Labor Crisis: The shortage of electricians has emerged as one of the most critical bottlenecks for both the AI data center boom and nuclear buildout.
Technological Offsets: To help combat workforce difficulties, the industry is exploring robotics and additive manufacturing to extend asset lifetimes and boost productivity.

The path forward for nuclear energy will be shaped by collaboration, execution and disciplined investment. Baird’s Power & Energy team brings deep sector expertise and a global perspective to support clients as the next generation of nuclear technology moves from policy to reality. We welcome the opportunity to continue the conversation.

Rob Kaderavek
Managing Director
+1-414-298-5260
rkaderavek@rwbaird.com

Andreas Germaschewski
Vice President
+1-312-609-5435
agermaschewski@rwbaird.com