Released October 26, 2021 | GALWAY, IRELAND
en
Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--The European Union (EU) is facing a new split over its approach to the future of nuclear power as 10 nations call for it to be classed as a low-carbon energy source.
Led by France, an open letter to the EU entitled "Why Europeans need nuclear power" signed by 10 member states, has called for nuclear power to be included alongside renewables in the transition away from fossil-fuel-based energy. They argue that nuclear power is needed not only to support the region's binding, global warming reduction targets but also to combat the kind of energy price spikes afflicting most European nations and industries right now. By changing its current status to a sustainable investment in the EU taxonomy, it would be eligible for funding and support under the European Green Deal. The letter was signed by the economy and energy ministers of Bulgaria, Croatia, Czechia, Finland, France, Hungary, Poland, Romania, Slovakia and Slovenia.
"Nuclear power must be part of the solution," the letter stated. "While renewable energy sources play a key role for our energy transition, we also need other emission-free energy sources to meet our needs, at a sufficient and a constant level. Nuclear power is necessary. It already accounts for about half of the European carbon-free electricity production."
It added: "Climate change is not the future's, but today's leading battle. In its last report on climate change, the IPCC made its predictions very clear: our 1.5°C to 2°C target for global warming by the 21st century will never be reached, unless deep reductions in greenhouse gas emissions occur in the coming eight years. The rise of energy prices have also shown how important it is to reduce our energy dependence on third countries as fast as possible. Supply tensions will be more and more frequent and we have no choice but to diversify our supply. We should pay attention not to increase our dependency on energy imports from outside Europe."
Industrial Info has been tracking the recent surge in European energy prices and the impact on industry. For additional information, see September 23, 2021, article--Soaring Gas Prices Hit European Chemicals and Steel Sectors and October 4, 2021, article--Norway's Equinor Ramps up Gas Exports to Help EU Crisis.
The letter stated: "Nuclear is a key affordable, stable and independent energy source. Firstly, because it prevents European consumers from being exposed to the volatility of prices, as we currently face with gas prices. Secondly, because it contributes decisively to the independence of our energy and electricity supplies. It is an available carbon-free energy that can deliver a wide amount of competitive electricity without increasing our dependencies to third countries' energy supply. For more than sixty years, the European nuclear industry has proven its reliability and safety. It is one of the most regulated sectors in the world, with 126 nuclear power reactors operating in 14 Member States."
The EU is deeply divided over the future of nuclear power. France is Europe's largest nuclear nation, relying on it for 70% of its power, while neighbouring Germany is on track to phase out all of its nuclear fleet by 2022. Industrial Info is tracking 16 grassroot nuclear projects in Europe worth a potential US$179 billion, with a further 26 unit addition projects worth US$137 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for related project reports.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
Led by France, an open letter to the EU entitled "Why Europeans need nuclear power" signed by 10 member states, has called for nuclear power to be included alongside renewables in the transition away from fossil-fuel-based energy. They argue that nuclear power is needed not only to support the region's binding, global warming reduction targets but also to combat the kind of energy price spikes afflicting most European nations and industries right now. By changing its current status to a sustainable investment in the EU taxonomy, it would be eligible for funding and support under the European Green Deal. The letter was signed by the economy and energy ministers of Bulgaria, Croatia, Czechia, Finland, France, Hungary, Poland, Romania, Slovakia and Slovenia.
"Nuclear power must be part of the solution," the letter stated. "While renewable energy sources play a key role for our energy transition, we also need other emission-free energy sources to meet our needs, at a sufficient and a constant level. Nuclear power is necessary. It already accounts for about half of the European carbon-free electricity production."
It added: "Climate change is not the future's, but today's leading battle. In its last report on climate change, the IPCC made its predictions very clear: our 1.5°C to 2°C target for global warming by the 21st century will never be reached, unless deep reductions in greenhouse gas emissions occur in the coming eight years. The rise of energy prices have also shown how important it is to reduce our energy dependence on third countries as fast as possible. Supply tensions will be more and more frequent and we have no choice but to diversify our supply. We should pay attention not to increase our dependency on energy imports from outside Europe."
Industrial Info has been tracking the recent surge in European energy prices and the impact on industry. For additional information, see September 23, 2021, article--Soaring Gas Prices Hit European Chemicals and Steel Sectors and October 4, 2021, article--Norway's Equinor Ramps up Gas Exports to Help EU Crisis.
The letter stated: "Nuclear is a key affordable, stable and independent energy source. Firstly, because it prevents European consumers from being exposed to the volatility of prices, as we currently face with gas prices. Secondly, because it contributes decisively to the independence of our energy and electricity supplies. It is an available carbon-free energy that can deliver a wide amount of competitive electricity without increasing our dependencies to third countries' energy supply. For more than sixty years, the European nuclear industry has proven its reliability and safety. It is one of the most regulated sectors in the world, with 126 nuclear power reactors operating in 14 Member States."
The EU is deeply divided over the future of nuclear power. France is Europe's largest nuclear nation, relying on it for 70% of its power, while neighbouring Germany is on track to phase out all of its nuclear fleet by 2022. Industrial Info is tracking 16 grassroot nuclear projects in Europe worth a potential US$179 billion, with a further 26 unit addition projects worth US$137 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for related project reports.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
