nuclear-news

World Nuclear Association admits “Nuclear Renaissance” just isn’t happening

Speaking at a meeting of the World Nuclear Association in London today, Ron Cameron head of the Nuclear Energy Association’s (NEA) nuclear development division said: “The nuclear renaissance hasn’t taken off”

Nuclear resurgence constrained Nuclear may go way of the Asian toaster, tcetoday news, 17 Sept 10, by Adam Duckett“……..PROBLEMS with finance, policy and skills have hamstrung the much-hyped resurgence of the nuclear power sector, experts have said.
…….The NEA had projected that global nuclear power would expand from meeting 13% of electricity demand today to 24% by 2050 ………..

Speakers consistently noted that technology is not the barrier – instead financing is the stumbling block to building more plants faster.

“Absence of capital support is a serious barrier to the nuclear renaissance,” said Martin Young, head of European Utilities Research Team at London-based analyst Nomura. A complex mix of variables is preventing investment.

The EU’s incentives for renewable projects, such as offshore wind farms, are turning investors’ heads away from the high-capital, long-payback risks associated with nuclear construction despite the lower price per unit of energy once plants are operational.

Utilities are unable to concurrently construct numerous plants, as the huge investments required dilute earnings, which depresses the company credit rating, making it more expensive to borrow capital……

September 18, 2010 - Posted by Christina Macpherson | 2 WORLD, business and costs | antinuclear, nuclear, nuclear costs, nuclear renaissance, reactors, renewables