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Etopia Report: the nuclear problem – economic realities

Selected quotes for from the eTopia report 2023 (translated from the French)

“4.5. The pharaonic cost of accidents and uninsurability of Nuclear

For their part, the potential costs of nuclear incidents and accidents are difficult to take into account in the cost of the mWh, even if they are very real. Thus, the sabotage (still not clarified) in 2014 of one of the reactors at Doel cost Engie nearly 100 million euros. And in case largest accident, no insurance company in the world will agree to cover nuclear power plants.

The maximum amount of damage up to which liability of the operator is incurred, amounts to €1.2 billion for each accident nuclear ! The additional costs would therefore be borne by the taxpayers (see on this subject the Price Anderson Act, American legal framework of irresponsibility of operators on which the legislation is based today (European).

As an example – and scale – the cost of the disaster of Chernobyl is estimated, at a minimum, at more than 200 billion euros, that of Fukushima today exceeds 170 billion, while the counter still running… The Institute of Radioprotection and Nuclear Safety (IRSN) studied the economic cost of a nuclear accident, if it occurred in France. A serious accident would cost on average 120 billion euros, a major accident, 430 billion euros… or the GDP of Belgium.

In a recent interview, Patrick Pouyanné, boss of Total Energies, explains why the company will not go into nuclear power. Acknowledging that they had studied the issue very seriously, he concluded: “it’s very capital intensive and the risk cocktail is too important to a private company”. Too expensive and too dangerous, therefore. In Germany, a study commissioned by the Versicherungsforen Leipzig, a service provider for insurance companies, calculated in 2011 that if an insurance wanted to constitute sufficient premiums to a nuclear power plant within 50 years, for example, it should ask for 72 billion euros per year for civil liability!

In practical, the reactors cannot therefore be insured, unless that the price of electricity is multiplied by… twenty. The study explains years of market distortion in favor of nuclear energy and to the detriment of competition. Uwe Leprich from the University of Sciences applied sciences of Saarbrücken, demonstrates that “nuclear energy is not competitive when considered from an economic point of view appropriate in terms of regulatory policy. »

ETOPIA is a Center for animation and research in political ecology. Founded in 2004, based in Namur, our think tank brings together environmental activists, associate researchers, trainers and change agents.

Link eTopia Nuclear 2023 Report: https://rep.etopia.be/wp-content/uploads/2023/09/LIVRE_PROBLEME_NUCLEAIRE_WEB.pdf

November 23, 2023 - Posted by Christina Macpherson | business and costs, EUROPE