Essay: Inflation and interest rates threaten nuclear new-build future

September 15, 2022, 7:07AMANS Nuclear Cafe
Interest rates have an outsized impact on nuclear power costs compared to those for other methods of power generation. (Source: World Nuclear Association)

In an essay titled “How the Fed will Strangle New Nukes,” published this week by American Thinker, nuclear engineer and writer Joseph Somsel warns that despite current expectations of a nuclear construction boom, “As in the late 1970s, rising interest rates will put the kibosh on new nukes.” Somsel therefore urges the financing and building of new nuclear facilities right now, before ongoing inflation and increasingly high interest rates “kill a lot of the plans” for new nuclear power plants.

U.K. energy strategy calls for up to eight new reactors

April 11, 2022, 6:52AMNuclear News

The U.K. government has released a new energy strategy aimed at boosting Britain’s energy independence, stabilizing its soaring energy prices, and accelerating the deployment of new nuclear, wind, solar, and hydrogen to mitigate climate change.

At the same time, the 38-page document, British Energy Security Strategy, calls for near-term support for domestic oil and gas, stating, “Net zero is a smooth transition, not an immediate extinction, for oil and gas.” (The United Kingdom in 2019 became the first of the world’s major economies to embrace a legal obligation to achieve net-zero carbon emissions by 2050.)

Following through with this strategy, the government says, could result in low-carbon sources generating up to 95 percent of British electricity by 2030.

Canadian utilities to collaborate on new nuclear in Ontario

April 8, 2022, 6:56AMNuclear News
Ontario clean energy leaders. From left: John Gorman, president and chief executive officer of the Canadian Nuclear Association; Ken Hartwick, president and CEO of Ontario Power Generation; Todd Smith, Ontario’s minister of energy; and Mike Rencheck, Bruce Power president and CEO. (Photo: Bruce Power)

Bruce Power and Ontario Power Generation (OPG) have announced an agreement to work together to support new nuclear technologies in Ontario. Bruce Power operates the Bruce nuclear plant and OPG operates the Darlington and Pickering facilities.

ECA launches “new nuclear” initiative

September 17, 2020, 9:28AMNuclear News

The board of directors of the Energy Communities Alliance (ECA), an organization known more for its work in advancing the cleanup of Department of Energy sites, is launching a new initiative aimed at supporting the development of new nuclear technologies. As announced by the ECA on September 15, the self-funded, one-year initiative will focus on small modular reactors, micro and advanced reactors, a skilled nuclear workforce, and new nuclear missions around DOE facilities. facilities.

“With growing bipartisan support for nuclear energy in Congress, new federal demonstration projects led by DOE and the Department of Defense, and notable investment from the private sector, local governments want to be meaningfully engaged—and prepared—to match the strengths and needs of our communities with new nuclear opportunities,” the ECA said in its announcement.