Nuclear renaissance
In the 2000s, the principal vehicle of industry growth was thought to be the project then known as the European Pressurised Reactor (EPR), led jointly by the French and German governments.
In 2015, French nuclear giant Areva, the then-world leader in reactor construction, collapsed, forcing a government-sponsored takeover by utility provider EDF.
[7] Together with delays and cost overruns, the bankruptcy caused cancellation of the two AP1000 reactors under construction at the Virgil C. Summer Nuclear Generating Station.
[10][11] A major factor in the decrease has been the prolonged repair of seven large reactors at the Kashiwazaki-Kariwa Nuclear Power Plant in Japan following the Niigata-Chuetsu-Oki earthquake.
The huge capital requirements, combined with risks of cost overruns and regulatory uncertainties, make investors and lenders very cautious, even when demand growth is robust.
[13][14][15][16][17] Platts reported that "the crisis at Japan's Fukushima nuclear plants has prompted leading energy-consuming countries to review the safety of their existing reactors and cast doubt on the speed and scale of planned expansions around the world".
[19] China, Switzerland, Israel, Malaysia, Thailand, the United Kingdom, Italy[20] and the Philippines reviewed their nuclear power programs.
[21][22][23][24] Countries such as Australia, Austria, Denmark, Greece, Ireland, Latvia, Liechtenstein, Luxembourg, Portugal, Israel, Malaysia, New Zealand, and Norway remained opposed to nuclear power.
Data from the International Atomic Energy Agency showed that nuclear power plants globally produced 2346 TWh of electricity in 2012 – seven per cent less than in 2011.
Problems at Crystal River, Fort Calhoun and the two San Onofre units in the USA meant they produced no power for the full year, while in Belgium Doel 3 and Tihange 2 were out of action for six months.
He says that solar, wind and cheap natural gas have significantly reduced the prospects of coal and nuclear power plants around the world.
But outside of China and possibly South Korea this concept seems a fantasy, as should become clearer examining even theoretical projections for new nuclear build today.
[31][46] The large capital cost of nuclear power has been a key barrier to the construction of new reactors around the world, and the economics have recently worsened, as a result of the global financial crisis.
[31][46][47] As the OECD's Nuclear Energy Agency points out, "investors tend to favor less capital intensive and more flexible technologies".
He argues that "the problem with new reactors and accidents is twofold: scenarios arise that are impossible to plan for in simulations; and humans make mistakes".
[68] Majorities of respondents in 14 of the 18 countries surveyed believe that the risk of terrorist acts involving radioactive materials at nuclear facilities is high, because of insufficient protection.
[68] After the Fukushima Disaster, Civil Society Institute (CSI) found out that 58 percent of the respondents indicated less support of using nuclear power in the United States.
The global research agency GlobeScan, commissioned by BBC News, polled 23,231 people in 23 countries from July to September 2011, several months after the Fukushima nuclear disaster.
[80][81] In 2013, four aging, uncompetitive, reactors were permanently closed: San Onofre 2 and 3 in California, Crystal River 3 in Florida, and Kewaunee in Wisconsin.
"[39] However, according to a government research unit, China must not build "too many nuclear power reactors too quickly", in order to avoid a shortfall of fuel, equipment and qualified plant workers.
[105] In light of the 2022 Russian invasion of Ukraine the government of Belgium announced its intention to delay the nuclear phaseout originally planned for 2025.
[107] In 2022 the government of Bulgaria announced a deal to build a new nuclear power plant with Greece acting as the guaranteed costumer of much of the electricity.
[108] In March 2022 the Czech government launched a tender for a new reactor in the 1-1.6 Gigawatt range at the existing Dukovany Nuclear Power Plant site.
[112][113] In late 2021 the government of Prime Minister Mark Rutte announced plans to extend the life of the sole existing nuclear power plant at Borssele but to build two new nuclear power plants in the coming years in order to maintain energy supply during and after the planned 2030 coal phaseout.
[118] In addition to the EPR under construction at Hinkley Point the government of Boris Johnson announced "big new bets" on nuclear power in light of the 2022 Russian invasion of Ukraine.
[121] In December 2009 South Korea won a contract for four nuclear power plants to be built in the United Arab Emirates, for operation in 2017 to 2020.
[126] As of November 2015[update], the Ministry of National Infrastructure, Energy and Water Resources is considering nuclear power in order to reduce greenhouse gas emissions 25% by 2030.
[127] In June 2009, Mark Cooper from the Vermont Law School said: "The highly touted renaissance of nuclear power is based on fiction, not fact...
[130] In 2010, Trevor Findlay from the Centre for International Governance Innovation stated that "despite some powerful drivers and clear advantages, a revival of nuclear energy faces too many barriers compared to other means of generating electricity for it to capture a growing market share to 2030".
[40] In March 2011, Alexander Glaser said: "It will take time to grasp the full impact of the unimaginable human tragedy unfolding after the earthquake and tsunami in Japan, but it is already clear that the proposition of a global nuclear renaissance ended on that day".
