Look at the proposed EPR2 subsidies. It is interest free loans and €100 per MWh on top of that, while assuming large learning effects.

They are admitting Flamanville 3 like costs before they have even started building.

Overnight costs do not get impacted by guaranteed purchase price or subsidy for it neither does it include interest rates. It is a specific aspect of the TCO.

Nobody is saying nuclear is cheap it is not - we will be building a plant once in while for pure strategic reason no matter the cost anyway. The point is construction cost comes down per MW with higher frequency of plant building, and this is the case SMRs, we can get cheaper construction both Per MW and overall TCO in absolute dollar terms relative to large plants with SMRs.