Skip to main content

EU Commissioners: Nuclear Build, Research Must Increase

The European Union must build new nuclear plants to soften the impact of astronomical oil prices, said Andris Piebalgs, EU energy commissioner.
He explained that instability in the Middle East and the impact of hurricane Katrina helped push levels up from $45 a barrel at the start of the year to some $70 a barrel today, causing alarm for EU motorists as petrol prices shot up across the union.

But he warned that the EU must focus on combating the long-term problem of demand growth outracing supply, with Chinese consumption alone soaring by 65 percent in the past three years.

The European Commission plans to accelerate the implementation of energy-saving and renewable energy source directives in the coming months to help stem European demand for fossil fuels.

But he warned that new coal and nuclear energy plants might also have to be built to help deal with the global problem.

"I expect investments in the nuclear sector in Europe, and in the rest of the world, will grow", the commissioner said.
Elsewhere, EU Science and Research Commissioner Janez Potocnik called on European countries to collaborate in the field of nuclear research.
Speaking at an international conference on 'nuclear energy for a new Europe' in his home country of Slovenia on 5 September, the Commissioner argued that satisfying Europe's demand for energy requires a comprehensive research effort focused on a broad range of energy technologies, including nuclear.

'Nuclear power provides approximately one-third of Europe's electricity and is by far the most significant source of [...] carbon-free generation available today. It makes a major contribution to limiting our greenhouse gas emissions and enhances both our independence and security of supply,' said Mr Potocnik.
Click here for the full text of Potocnik's speech.

Technorati tags:

Comments

Popular posts from this blog

Activists' Claims Distort Facts about Advanced Reactor Design

Below is from our rapid response team . Yesterday, regional anti-nuclear organizations asked federal nuclear energy regulators to launch an investigation into what it claims are “newly identified flaws” in Westinghouse’s advanced reactor design, the AP1000. During a teleconference releasing a report on the subject, participants urged the Nuclear Regulatory Commission to suspend license reviews of proposed AP1000 reactors. In its news release, even the groups making these allegations provide conflicting information on its findings. In one instance, the groups cite “dozens of corrosion holes” at reactor vessels and in another says that eight holes have been documented. In all cases, there is another containment mechanism that would provide a barrier to radiation release. Below, we examine why these claims are unwarranted and why the AP1000 design certification process should continue as designated by the NRC. Myth: In the AP1000 reactor design, the gap between the shield bu...

Nuclear Utility Moves Up in Credit Ratings, Bank is "Comfortable with Nuclear Strategy"

Some positive signs that nuclear utilities can continue to receive positive ratings even while they finance new nuclear plants for the first time in decades: Wells Fargo upgrades SCANA to Outperform from Market Perform Wells analyst says, "YTD, SCG shares have underperformed the Regulated Electrics (total return +2% vs. +9%). Shares trade at 11.3X our 10E EPS, a modest discount to the peer group median of 11.8X. We view the valuation as attractive given a comparatively constructive regulatory environment and potential for above-average long-term EPS growth prospects ... Comfortable with Nuclear Strategy. SCG plans to participate in the development of two regulated nuclear units at a cost of $6.3B, raising legitimate concerns regarding financing and construction. We have carefully considered the risks and are comfortable with SCG’s strategy based on a highly constructive political & regulatory environment, manageable financing needs stretched out over 10 years, strong partners...

Wednesday Update

From NEI’s Japan micro-site: NRC, Industry Concur on Many Post-Fukushima Actions Industry/Regulatory/Political Issues • There is a “great deal of alignment” between the U.S. Nuclear Regulatory Commission and the industry on initial steps to take at America’s nuclear energy facilities in response to the nuclear accident in Japan, Charles Pardee, the chief operating officer of Exelon Generation Co., said at an agency briefing today. The briefing gave stakeholders an opportunity to discuss staff recommendations for near-term actions the agency may take at U.S. facilities. PowerPoint slides from the meeting are on the NRC website. • The International Atomic Energy Agency board has approved a plan that calls for inspectors to evaluate reactor safety at nuclear energy facilities every three years. Governments may opt out of having their country’s facilities inspected. Also approved were plans to maintain a rapid response team of experts ready to assist facility operators recoverin...