nuclear-news

EU Needs $460 Billion Investment Just To Maintain Nuclear Power Capacity, let alone build new

Oil Price.com By Tsvetana Paraskova – Nov 11, 2022, 

The European Union will need up to $462 billion (450 billion euros) in investment just to keep the current level of its nuclear power generation capacity, the EU Commissioner for Energy, Kadri Simson, said at a nuclear energy forum this week……..

This year, a year when surging energy prices have highlighted the importance of energy security, the EU is particularly focused on its nuclear power availability.

According to the EU modeling, nuclear power generation will account for around 15%-16% of the EU’s power output in 2030 and 2050, Simson said.

The EU needs a stable generation capacity, at the level of just over 100 GW, in the coming decades. Yet, a lot of investment will be needed to keep that generation capacity in the future.

“Our analysis shows that without immediate investment, around 90% of existing reactors would be shut down around the time when we need them most – in 2030,” Simson noted.

The EU will need between $360 billion (350 billion euros) and $462 billion (450 billion euros) of investment just to maintain the current generation capacity, and another up to $51.3 billion (50 billion euros) in the long-term operation of existing reactors, according to the EU commissioner………   EU Needs $460 Billion Investment To Maintain Nuclear Power Capacity | OilPrice.com
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November 11, 2022 - Posted by Christina Macpherson | business and costs, EUROPE