---
schema_version: "secwatch.filing_event.v1"
accession: "0001822966-23-000049"
form_type: "8-K"
ticker: "SMR"
cik: "0001822966"
company_name: "NUSCALE POWER Corp"
filed_at: "2023-03-10T23:59:59+00:00"
generated_at: "2026-06-18T05:46:05.692746+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NuScale amends CFPP deal: target cost to $89/MWh; new refund triggers, up to $81M restricted cash

## Summary
- Target electricity cost raised to $89/MWh from $58/MWh under DCRA Amendment 3.
- NuScale must refund development costs if 370 MWe subscription not secured by Feb 1, 2024 (currently 120 MWe).
- Aggregate reimbursement cap up to $66M (LLM) + $60M (DCRA) for failed economic test; up to $120M (DCRA) for cause termination.
- Up to $81M restricted cash required as letter of credit collateral by Dec 31, 2023.
- LLM Agreement caps Phase 1 long-lead material value at $49M; NuScale gets rights to LLM if refund triggered.

## SEC filing metadata
- accession: 0001822966-23-000049
- form_type: 8-K
- ticker: SMR
- cik: 0001822966
- company_name: NUSCALE POWER Corp
- filed_at: 2023-03-10T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1822966/000182296623000049/0001822966-23-000049-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1822966/000182296623000049/smr-20230310.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001822966-23-000049
- JSON: https://secwatch.observer/filing/0001822966-23-000049.json
- Plain text: https://secwatch.observer/filing/0001822966-23-000049.txt

## Key facts
- Material Agreements
  NUSCALE POWER Corp entered into Long Lead Material Reimbursement Agreement with CFPP LLC valued at reimbursement obligations for long-lead materials; NuScale may be obligated to refund a percentage o (effective 2023-02-28).
  - Action: entry
  - Counterparty: CFPP LLC
  - Value: reimbursement obligations for long-lead materials; NuScale may be obligated to refund a percentage o
  - Effective: 2023-02-28
  source text: As finalized on March 7, 2023, NuScale Power, LLC (together with NuScale Power Corporation, its parent, “NuScale”, “we” or “our”) entered into (i) Amendment 3 (the “Amendment”) to the Development Cost Reimbursement Agreement (the “DCRA”), dated December 31, 2020, with CFPP LLC, as successor by assignment to Utah Associated Municipal Power Systems (“UAMPS”), and (ii) the Long Lead Material Reimbursement Agreement with CFPP LLC (the “LLM Agreement”), both effective as of February 28, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822966/000182296623000049/0001822966-23-000049-index.htm
- Material Agreements
  NUSCALE POWER Corp amended Amendment 3 to the Development Cost Reimbursement Agreement with CFPP LLC valued at amendment increases target cost from $58.00/MWh to $89.00/MWh, aggregate cap for failure of economic (effective 2023-02-28).
  - Action: amendment
  - Counterparty: CFPP LLC
  - Value: amendment increases target cost from $58.00/MWh to $89.00/MWh, aggregate cap for failure of economic
  - Effective: 2023-02-28
  source text: As finalized on March 7, 2023, NuScale Power, LLC (together with NuScale Power Corporation, its parent, “NuScale”, “we” or “our”) entered into (i) Amendment 3 (the “Amendment”) to the Development Cost Reimbursement Agreement (the “DCRA”), dated December 31, 2020, with CFPP LLC, as successor by assignment to Utah Associated Municipal Power Systems (“UAMPS”), and (ii) the Long Lead Material Reimbursement Agreement with CFPP LLC (the “LLM Agreement”), both effective as of February 28, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822966/000182296623000049/0001822966-23-000049-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.