Presented here is a new numerical nodal method for the simulation of the axial power distribution within nuclear reactors using the one-dimensional one speed kinetics diffusion model with one group of delayed neutron precursors. Our method is based on a spectral analysis of the nodal kinetics equations. These equations are obtained by integrating the original kinetics equations separately over a time step and over a spatial node, and then considering flat approximations for the forward difference terms. These flat approximations are the only approximations that are considered in the method. As a result, the spectral nodal method for space - time reactor kinetics generates numerical solutions for space independent problems or for time independent problems that are completely free from truncation errors. We show numerical results to illustrate the method`s accuracy for coarse mesh calculations. (author).