Three factors will drive nuclear exports: energy security, decarbonization, and geopolitics. Recent power prices in Europe, coupled with the situation in Ukraine, demonstrate the interplay of all three factors. Nuclear exports have to be viewed in the context of the current geopolitical climate, particularly relative to Russian and Chinese competitive offerings. Finally, the critical importance of nuclear energy in meeting global decarbonization efforts can be a driving force for exports, further enhanced by the inclusion of nuclear energy in clean/green taxonomies and the accompanying support from the ESG (environmental, social, and governance) investor community.

The Department of Energy last week released America’s Strategy to Secure the Supply Chain for a Robust Clean Energy Transition, billed by the DOE as “the first-ever comprehensive plan to ensure security and increase [the nation’s] energy independence.”

The 76-page document was produced in response to President Biden’s February 2021 executive order on U.S. supply chains, which called for a plethora of department reports on the subject, including one from the DOE on supply chains for the energy-sector industrial base.

What they’re saying: “Taking bold action to invest in our supply chains means America will reap the tremendous opportunities that tackling climate change presents to kickstart domestic manufacturing and help secure our national, economic, and energy security,” said Secretary of Energy Jennifer Granholm. “The strength of a nation relies on resilient and reliable critical supply chains across sectors, and DOE’s report provides the key strategies and recommendations for Congress and the federal government to act now to help deliver more jobs and a stronger, cleaner future.

The Biden administration has launched an initiative to enhance the cybersecurity of U.S. electric utilities’ industrial control systems (ICS) and secure the nation’s energy sector supply chain, the Department of Energy announced on April 20. The 100-day plan is a coordinated effort between the DOE, the Cybersecurity and Infrastructure Security Agency, and the electricity industry.