Nuclear economics in a changed world

May 11, 2022, 9:30AMANS NewsCraig Piercy

Craig Piercy
cpiercy@ans.org

Laurence J. Peter, author of The Peter Principle, said, “An economist is an expert who will know tomorrow why the things he predicted yesterday didn’t happen today.” By that definition, I guess we are all economists now.

As I write this column, it’s still too early to know exactly how the Russian invasion of Ukraine, and the world’s response to it, will shape the long-term economics of energy production, and specifically the economics of nuclear energy. But we can make a few logical guesses.

First, I think we will see a stronger security “overlay” to every energy policy decision we make in the next few years. Energy security is a potent motivator. France’s decision to go nuclear wasn’t a decarbonization play; it was a direct result of the Arab oil embargo of 1973, when most of its electricity was generated by oil-fired power plants.

Contract with Rosatom for Finnish reactor scrapped

May 5, 2022, 6:59AMNuclear News
An artist’s rendering of the Hanhikivi plant. (Image: Rosatom)

Finnish energy company Fennovoima has terminated, effective immediately, its engineering, procurement, and construction (EPC) contract with RAOS Project Oy, a subsidiary of Russia’s Rosatom, for the delivery of a 1,200-MWe VVER-1200 pressurized water reactor at the Hanhikivi site in Finland’s Pyhäjoki municipality.

GOP lawmakers call on Secretary Granholm to secure U.S. nuclear energy sector

May 2, 2022, 12:00PMNuclear News

Upton

McMorris Rodgers

Rep. Cathy McMorris Rodgers (R., Wash.), ranking member of the House Energy and Commerce Committee, and Fred Upton (R., Mich.), ranking member of the Subcommittee on Energy, sent a letter to energy secretary Jennifer Granholm on April 27 urging that more be done to secure America’s nuclear energy sector.

Excerpt: “Russia’s invasion of Ukraine exposes the risks of weakening American energy security,” McMorris Rodgers and Upton write. “These risks extend beyond our oil and gas assets to include supply vulnerabilities in our civilian nuclear sector. This sector is essential for national and energy security and for strengthening the geostrategic relationships necessary to compete with Russia, China, and other adversaries.

Update on Ukraine

April 29, 2022, 12:00PMNuclear News
Ukraine’s president, Volodymyr Zelensky, thanks IAEA director general Rafael Mariano Grossi for the agency’s support, including its April 26 mission to Chernobyl. (Photo: IAEA)

The director general of the International Atomic Energy Agency, Rafael Mariano Grossi, led a mission to Ukraine’s Chernobyl nuclear plant this week to address ongoing radiological safety concerns at the shuttered site following five weeks (February 24–March 31) of Russian military occupation.

Online fundraising event for Ukraine to be held April 27–28

April 26, 2022, 12:01PMANS Nuclear Cafe

An open online event titled “Challenges of Ukraine’s nuclear energy in wartime” will be held on April 27 and 28. The event is sponsored by the International Conference on Nuclear Decommissioning and Environmental Recovery (INUDECO). Organizers include the Slavutych (Ukraine) City Council, the Institute for Nuclear Power Plant Safety of the National Academy of Sciences of Ukraine, and the Ukrainian Nuclear Society.

Register now. There is no fee for registration. However, funds raised from participants will be donated for humanitarian purposes. Fundraising is open now.

Europe is showing renewed interest in nuclear energy “despite danger,” says the Washington Post

April 26, 2022, 7:06AMANS Nuclear Cafe

“The war in Ukraine has intensified interest across Europe in building new nuclear energy plants or extending the lives of old ones to liberate the continent from its heavy reliance on Russian oil and natural gas,” Washington Post reporters Steven Mufson and Claire Parker write in their recent article, before describing what they view as the potential dangers of nuclear energy. They also quote the American Nuclear Society in regard to the Chernobyl nuclear site in Ukraine.

The American Nuclear Society and the Health Physics Society launch  collaboration for answering the media's questions on radiation and nuclear science

April 20, 2022, 9:59AMPress Releases

The Health Physics Society (HPS) and the American Nuclear Society (ANS) are teaming up to better serve our memberships and the public in understanding radiation and nuclear safety issues. As part of the collaboration, the HPS Ask the Experts and the ANS Rapid Response Taskforce are partnering to monitor the radiological and nuclear situation in war-besieged Ukraine and are ready to answer media inquiries. 

Legislation introduced to reestablish U.S. as global nuclear energy leader

April 13, 2022, 9:30AMNuclear News

Risch

Manchin

Sens. Joe Manchin (D., W.Va.) and Jim Risch (R., Idaho) recently introduced the International Nuclear Energy Act of 2022, a measure aimed at developing a strategy to counter the growing influence of Russia and China on the global civil nuclear export market.

Manchin is chairman of the Senate Energy and Natural Resources Committee, and Risch is the ranking member of the Foreign Relations Committee.

Bill basics: The legislation, according to the lawmakers, would:

  • Establish an office to coordinate civil nuclear exports strategy, establish financing relationships, promote regulatory harmonization, enhance safeguards and security, promote standardization of licensing framework, and create an export working group.

Westinghouse partners with Slovenian companies on AP1000 projects

April 7, 2022, 9:30AMNuclear News
Attending the MOU signing on April 5 are, from left, Franc Škrabec, Numip, nuclear power program manager; Tine Ogorevc, Numip, general manager; Josefa Arcarons Coma, Westinghouse, global supply chain manager for the Europe, Middle East, and Africa region; Elias Gedeon, Westinghouse, senior vice president of commercial operations; Joel Eacker, Westinghouse, vice president of new power plant projects; Mojca Lorber, Sipro Engineering, commercial manager; Metod Pirc, Elmont, general manager; and Franc Katič, Sipro Engineering, general manager. (Photo: Westinghouse)

Westinghouse’s plans for supplying AP1000 reactors to Ukraine may have been complicated by Russia’s invasion of the country, but the company is nonetheless continuing its efforts to strengthen business ties in Central and Eastern Europe. On April 5, Westinghouse signed memorandums of understanding with three companies in Slovenia.

American and European nuclear societies issue joint statement denouncing attacks on Ukraine's nuclear facilities and misinformation

April 5, 2022, 11:48AMPress Releases

The European Nuclear Society (ENS) and the American Nuclear Society (ANS) issued a joint statement expressing support for their Ukrainian colleagues and the International Atomic Energy Agency in ensuring the continued safe operation of Ukraine's nuclear power plants and facilities, amid Russia's ongoing invasion of Ukraine.

Wars are dangerous, reactors much less so

March 30, 2022, 11:55AMANS Nuclear CafeJacopo Buongiorno, Steven Nesbit, Malcolm Grimston, Lake Barrett, Matthew L. Wald, and Andrew Whittaker
The six reactors at the Zaporizhzhia nuclear power plant in southeastern Ukraine.

On March 4, Russian forces set fire to an office building at Ukraine’s Zaporizhzhia nuclear power plant, raising fears about reactors being damaged. The attack stirred up memories of the Chernobyl accident in 1986, a reaction that longtime nuclear opponents are taking advantage of to rekindle their cause. However, the reactors operating in Ukraine today are profoundly different from the design used at Chernobyl, and are, by nature, difficult to damage.

Let’s set the record straight and explain the risks of nuclear power plants in war zones.

Update on Ukraine

March 25, 2022, 7:10AMNuclear News

International Atomic Energy Agency director general Rafael Mariano Grossi said on Wednesday that he remains “gravely concerned” about Ukraine’s nuclear sites amid the ongoing Russian invasion and stressed the urgency of reaching an agreement on a framework that would enable his agency to provide technical assistance to ensure the safe and secure operation of those facilities.

Belgium to extend operation of two reactors by 10 years

March 21, 2022, 9:30AMNuclear News
The Doel nuclear power plant in Belgium.

In a move motivated by Russia’s invasion of Ukraine and the sky-high energy prices hitting Europe as a result, the Belgian government last Friday announced its intention to extend the operational life of two of its nuclear power reactors, Doel-4 and Tihange-3, through 2035.

Europe’s confused climate strategy

March 18, 2022, 3:55PMNuclear NewsMatthew L. Wald

Europeans are taking resolute steps to reduce their output of climate-changing gases, but some countries are moving in the wrong direction.

Many countries are adding solar and wind, which are low-carbon energy sources. Some have moved to biomass, the value of which as a climate cure is not clear. A few are adding reactors, while others are defining nuclear as dirty energy and natural gas as “clean” and are changing their generation mix accordingly.

Update on Ukraine

March 18, 2022, 12:00PMNuclear News

The State Nuclear Regulatory Inspectorate of Ukraine (SNRIU) informed the International Atomic Energy Agency yesterday that all safety systems at the Zaporizhzhia nuclear power plant in southeastern Ukraine were fully functional, one day after the site lost connection to a third external power line linking it to the national electricity grid.

ANS webinar looked at building domestic HALEU production capacity

March 16, 2022, 12:00PMANS News

The United States must ramp up the domestic production of high-assay low-enriched uranium (HALEU), the panelists agreed during a March 11 members-only webinar held amid heightened concerns about energy security following Russia’s invasion of Ukraine, and the day after Congress approved $45 million for the HALEU Availability Program for fiscal year 2022.

John Starkey, ANS director of public policy, moderated the webinar, which featured panelists Scott Kopple, senior director of government relations at BWX Technologies; Everett Redmond, senior technical advisor at the Nuclear Energy Institute; Benjamin Reinke, senior director of corporate strategy and advisor to the CEO at X-energy; Patrick White, project manager at the Nuclear Innovation Alliance (NIA); and Brad Williams, a member of the Senate Energy and Natural Resources Committee staff.

A recording of the webinar is available to ANS members.

Off-site power restored at Chernobyl — before power lines damaged again

March 14, 2022, 8:37AMPress Releases
Energoatom, photo of Rovno (Rivne) NPP. Rivne NPP | Energoatom

External power supplies were restored to the decommissioning Chernobyl facility following repairs of damaged power lines — before being reportedly damaged again, according to Ukraine's transmission system operator Ukrenergo.

Grossi returns from talks with Ukrainian and Russian foreign ministers in Turkey

March 11, 2022, 9:13AMNuclear News
At the press conference, Grossi explained that the IAEA has stopped receiving safeguards information from certain monitoring systems installed at Ukrainian nuclear facilities, as indicated by the red dots.

IAEA director general Rafael Mariano Grossi traveled to Antalya, Turkey, on March 10 to meet with Ukrainian foreign minister Dmytro Kuleba and Russian foreign minister Sergei Lavrov to discuss the safety and security of Ukraine's nuclear facilities. After returning to Vienna, Grossi held a press conference at which he said that a “common denominator” had emerged from the discussions and that both sides agree that something needs to be done. “They are both ready to work and to engage with the IAEA,” he said. “So this is a very important building block.”

Eleven years since Fukushima

March 10, 2022, 12:01PMANS Nuclear Cafe
The Fukushima Daiichi site before the accident.

Today’s #ThrowbackThursday post looks back at some of Nuclear News’s reporting on the Fukushima Daiichi accident, which was initiated 11 years ago tomorrow. The news reporting includes the initial coverage of the event from the pages of Nuclear News in April 2011 and the in-depth coverage of the 2011 ANS Annual Meeting, where special sessions focused on the accident.