

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.
They would, if they weren’t four times more expensive than nuclear, and 13 times more expensive than gas.
It’s certainly one of the issues, but not the only issue. The gas price is close to historical averages now, yet UK electricity prices remain very high.
Russia controls approximately 22% of the world’s uranium conversion capacity and 44% of its enrichment capacity. This is hardly insurmountable. It should spur investment from other nations. China accounts for approximately 70–90% of the global market across all stages of the lithium-ion battery value chain. Does that mean the world should give up on EVs and battery storage? Surely not.
I don’t know what you mean by “stowed away,” but their policy shows they are still very much open to nuclear energy.
France definitely doesn’t need 2-3 times that based on current implementation of renewables.
You won’t catch me defending the speed of large reactor roll-outs. Despite this, and the high costs, it’s still much cheaper than renewables. SMRs will be much faster to deploy, much more flexible, much cheaper, and require much less planning.
China is also building two “mega” coal lignite power plants per week. I don’t think we should use them as a role model.
CO2 production is expected to continue to climb for 50-100 years, and we won’t reach CO2 neutrality for hundreds of years, if ever. A 7-10 year timespan is very little compared to the enormous environmental benefits.
This is a political decision, not one based in science or finance. Despite renewables being far from ready to replace Germany’s nuclear generation, the public voted to switch to much more environmentally damaging gas generation. That gas was primarily coming from a hostile, authoritarian nation. The public voted to place the economic prosperity of Germany in the hands of Russia. It was one of the most tragic examples of democratic self immolation in all of history.
And I fully agree with the author. In 30-50 years when battery technology becomes cost effective at grid scale, we’ll be having a very different discussion.
That’s fair. It expands on the even more flawed LCOE metric which is widely (and incorrectly) used to compare wind/solar with nuclear/gas/coal.
Rolls Royce isn’t due to deliver commercial SMRs until the early 2030s. Until then designs are either bespoke (and expensive, and untested), or using the GE Hitachi BWRX-300, which is also very expensive because it’s only licensed, and built on site to spec. It has many of the same issues as traditional large reactors. GE began licensing that design in 2020, and the most advanced project is I think in Canada, due to be completed in 2028. Once RR figures out their production lines, I think we see huge efficiencies of scale and much easier planning.