I’m much more optimistic about nuclear power in Europe. Given the high pricing volatility induced by renewables and the gas supply shock after Russia’s invasion of Ukraine, nine European countries are now intending to build new reactors. Even Denmark is softening its stance on nuclear power, with the entire right wing bloc proposing lifting the ban. France intends to build 14 new reactors by 2050. While conventional reactors are expensive, they’re four times cheaper than solar and wind with all costs imputed. Further, we are about to enter a new age of SMRs, and all preliminary data suggesting a per unit capex cost of almost half, and the ability to extend networks as needed far more flexibly to better align with modern grids comprised of more renewables.
I’m much more optimistic about nuclear power in Europe. Given the high pricing volatility induced by renewables and the gas supply shock after Russia’s invasion of Ukraine, nine European countries are now intending to build new reactors. Even Denmark is softening its stance on nuclear power, with the entire right wing bloc proposing lifting the ban. France intends to build 14 new reactors by 2050. While conventional reactors are expensive, they’re four times cheaper than solar and wind with all costs imputed. Further, we are about to enter a new age of SMRs, and all preliminary data suggesting a per unit capex cost of almost half, and the ability to extend networks as needed far more flexibly to better align with modern grids comprised of more renewables.