2019-04-29 11:25:00
EUROPE'S NUCLEAR VALUE
WNN - The European nuclear industry sustains more than 1.1 million jobs in the EU and generates more than half a trillion euros in GDP, according to a new study by Deloitte released yesterday. The study was commissioned by the European nuclear trade association Foratom to assess the contribution of the nuclear sector to the overall economy of the EU28 both today and in 2050.
According to the report, each gigawatt of installed nuclear capacity in the EU triggers EUR9.3 billion (USD10.4 billion) in annual investments both in the nuclear and related economic sectors, provides permanent and local employment to nearly 10,000 people and generates EUR4.3 billion in EU GDP. This means that every euro spent in the nuclear industry generates EUR5 in EU GDP and every direct job created in the nuclear industry creates 3.2 jobs in the EU economy as a whole. For comparison, the wind power industry (with an installed capacity of 160 GWe) supports just over 250,000 jobs in Europe and generates EUR36.1 billion in GDP, while the solar power sector supports just over 80,000 (with an installed capacity of 100 GWe).
"As one of the objectives of this study was to provide data on the economic contribution of the European nuclear industry up to 2050, decision-makers now have at their disposal a reliable forecast of the benefits that would be derived from the deployment of 150 GWe of nuclear power capacity throughout the European Union," said Sorin Elisei, senior manager at Deloitte Romania.
Looking ahead to 2050, if nuclear was to continue to account for one-quarter of the electricity mix in 2050 (150 GWe of installed capacity), the study predicts the industry would support more than three million jobs annually, generate EUR576 billion per year in GDP, boost tax revenues by EUR110.2 billion per year and provide households with EUR490.9 billion in disposable income.
"If Europe is serious about decarbonising its economy by 2050, then one-quarter of the electricity produced in the EU will need to continue to come from nuclear," Foratom Director General Yves Desbazeille said. "Not only will this enable the EU to achieve its carbon-free targets, whilst at the same time ensuring it has access to the energy it needs when it needs it, it will also provide a significant contribution in terms of economic growth and job creation."
Those currently employed in the coal industry could be retrained in order to fill the skills gap in the nuclear industry and nuclear can help maintain a European industrial base by providing a steady supply of low carbon power at an affordable cost, the study says.
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Earlier:
2019, April, 26, 10:00:00
NUCLEAR POWER FLUX DENCITY
"In California, one of the sunniest places in the world, it still takes 450 times more land to produce the same amount of electricity from solar as it does from nuclear," he said. "Why do solar panels require 17 times more material, 17 times more land chewed up for mining than what uranium requires? The answer is energy density, which is what makes nuclear power an environmentalist's story."
2019, April, 24, 10:40:00
FRANCE'S NUCLEAR IS IMPORTANT
France's ambitious energy plan will require substantial investment efforts over the next few years. Against this backdrop, the French government has expressed a willingness to propose a new remuneration framework for the existing nuclear fleet - though the timing and details of such a regulatory change remain uncertain and remote. What's more, the French state has opened the option of increasing its stake in EDF (currently 83.7%) by as early as 2019. If, or indeed when, these developments are implemented it could be credit positive.
2019, April, 24, 10:35:00
SMALL NUCLEAR QUESTIONS
The race for investor commitments of cash and eventual market share among developers of small modular reactors (SMRs) globally is on. Developers in the U.S., Canada, U.K., South Korea, Russia, and China, and in other nations are pursuing their technology visions for a variety of designs concepts including light water (LWR), molten salt, HTGR, and other GEN IV types.
2019, April, 19, 09:20:00
U.S. NUCLEAR SECURITY
The US Department of Commerce (DOC) on 15 April submitted to the White House the results of an investigation into the effects of uranium imports on US national security. US President Donald Trump now has up to 90 days to decide whether to act on the DOC's findings and recommendations, which have not been made public.
2019, April, 17, 11:05:00
NUCLEAR FOR BETTER LIFE
Alexey Likhachev reminded the audience that the Forum motto is “Nuclear for better life”. Each sphere of human activity is affected by the achievements of nuclear industry. “Peaceful atom is associated with all aims and goals of UN sustainable development program. This Forum will become a space for discussing newest technologies that will lay the basis for the future of our planet”, Mr Likhachev emphasized.
2019, April, 3, 10:35:00
CHINA'S FUSION POWER
A research centre to support China's push for nuclear fusion power has been approved. It will be able to test large superconducting magnets and filters under operational conditions. The Institute of Plasma Physics of the Chinese Academy of Sciences said that having an integrated research facility for key systems of fusion reactors is "one of the major scientific engineering projects" in the Thirteenth Five-Year Plan.
