RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2020-06-02 14:45:00

LOW-CARBON NUCLEAR RECOVERY

LOW-CARBON NUCLEAR RECOVERY

WNN - 01 June 2020 - Investing in nuclear power as part of the post-virus recovery would help stimulate the economy and ease the path towards carbon neutrality, World Nuclear Association said on 29 May, following the ministerial roundtable on Mobilising Investments for Secure and Sustainable Power Systems that was co-hosted earlier that day by the International Energy Agency (IEA) and the UK government.

The event, which was co-chaired by Fatih Birol, IEA executive director, and Kwasi Kwarteng, UK Minister for Business, Energy and Clean Growth, examined the short and longer term impacts of the COVID-19 pandemic on the electricity sector and what the crisis means for evolving opportunities and risks facing power sector investments. It was one in a series leading up to the IEA's Clean Energy Transitions Summit, which will take place on 9 July.

Commenting on the many speeches heard during the ministerial roundtable, Agneta Rising, director general of World Nuclear Association, said: "The global nuclear industry is ready to do its part to make sure we come out of this pandemic stronger, cleaner and more resilient than ever before. Nuclear energy can play a key role in the post-COVID recovery by boosting economic growth, creating jobs and supporting the development of a cost-effective, low-carbon, resilient electricity infrastructure."

There is a "window of opportunity", she said, for governments to support the many new nuclear build projects already planned. "Nuclear power must be included in the journey towards carbon neutrality. If not, there will be threats to the security of supply, and the transition towards a low-carbon future will be considerably more expensive. The electricity system of the future must take into account the full costs and benefits of different forms of generation," she added.

Speaking at the meeting, Jean-Bernard Lévy, CEO of EDF, highlighted the potential contribution of new nuclear. Each gigawatt of nuclear capacity avoids two to four times more emissions than equivalent capacities of other electricity technologies, which is thanks to its reliability and high capacity factors, he noted. A new nuclear project is also good for employment, he said, with construction of an EPR creating about 4600 skilled jobs. It would boost the economy, particularly for local industries.

Nuclear power has been an important source of power flexibility in Europe during the current pandemic, as highlighted recently by the IEA in its Global Energy Review 2020.

Mark Menezes, undersecretary of energy for the US government, emphasised that reliable, resilient, carbon-free baseload power continues to be important, noting that the world won’t reach its clean energy goals without nuclear. IEA analysis, he said, had shown that lifetime extensions of existing reactors are the lowest cost low-carbon source of additional generation.

In a joint statement, Birol and Kwarteng said participants in the meeting had "expressed concern" over the finding by the IEA World Energy Investment report that capital spending in the power sector is set to drop in 2020. Global investments in low-carbon generation, grids, flexibility and storage are "out of step" with the needs of sustainable and resilient power systems, they added.

Clean energy transitions will be a key focus, they said, in the lead up to the UN’s next round of climate talks - COP26 - "and beyond". The UK is the host of COP26, which because of the pandemic is to be held one year later than scheduled, in November 2021.

-----

Tags: NUCLEAR, POWER, DECARBONISATION
Chronicle:
LOW-CARBON NUCLEAR RECOVERY
2021, July, 9, 12:04:00
HYDROGEN RUSSIA AND CIS, Moscow, 20-21 October 2021
International Conference and Exhibition ‘Hydrogen Russia and CIS’ brings together more than 200 senior executives of hydrogen production plants from Russia and the CIS
LOW-CARBON NUCLEAR RECOVERY
2021, July, 9, 12:00:00
ARGENTINA'S NUCLEAR SMR
Before work was suspended, it was in line to be the world’s first operating SMR. The government licensed it as a prototype in 2009.
LOW-CARBON NUCLEAR RECOVERY
2021, July, 9, 11:55:00
CHILE'S COAL GENERATION DOWN
In June 2021, the Chamber of Deputies of Chile has approved a bill that prohibits the installation and operation of coal-fired power plants.
LOW-CARBON NUCLEAR RECOVERY
2021, July, 8, 12:50:00
OIL PRICE: NEAR $73
Brent slipped by 23 cents, or 0.3%, to $73.20 a barrel, WTI were down 33 cents, or 0.5%, at $71.87 a barrel.
LOW-CARBON NUCLEAR RECOVERY
2021, July, 8, 12:45:00
OIL PRICES 2021-22: $72-$67
We expect rising production will reduce the persistent global oil inventory draws that have occurred for much of the past year and keep prices similar to current levels, averaging $72/b during the second half of 2021 (2H21).
LOW-CARBON NUCLEAR RECOVERY
2021, July, 8, 12:40:00
EUROPE CLIMATE RULES
According to draft proposals seen by market sources, the CBAM will replace the current system of free carbon allowances for metals sectors, and tighten allowances in the European Emissions Trading System generally, a bone of contention for some.
LOW-CARBON NUCLEAR RECOVERY
2021, July, 8, 12:35:00
ASIA INDEXES DOWN ANEW
The Hang Seng index (.HSI) led losses with a 1.9% drop, its eighth consecutive session in the red, with more falls in internet giants Tencent (0700.HK), Meituan (3690.HK) and Alibaba (9988.HK) as the sector reels from sweeping Chinese regulatory scrutinty.
All Publications »