Latest market news

EU countries eye 150GW of nuclear capacity by 2050

  • : Electricity
  • 23/05/16

Plans were announced today for ramping up nuclear energy capacity in Europe, following a meeting in Paris between French energy minister Agnes Pannier-Runacher and representatives from 15 other countries taking part in a "nuclear energy alliance".

"We estimate that nuclear energy can supply up to 150GW of power to the EU by 2050, which will require us to build 30-45 new reactors with a high capacity and to develop small modular reactors (SMRs)," Pannier-Runacher said, adding that she is in favour of developing both nuclear energy and renewables. The EU currently has 100GW of installed nuclear capacity, representing 25pc of its electricity mix — a share the minister also wants to keep unchanged by 2050.

Discussions were focused on co-operation around new technologies — including SMRs — as well as the creation of a European nuclear supply chain and the reduction of countries' dependence on Russian nuclear fuel supply. Several countries had already signed a joint declaration on the latter during the G7 meeting last month in Sapporo, Japan.

Members of the nuclear energy alliance signed a joint declaration calling for a European action plan to foster co-operation in the nuclear sector. In total, representatives of 16 countries attended the meeting, with Italy having "observer status" — after nuclear energy recently made its return in parliamentary discussions — and the UK being present as a "guest" in order to "share its experience on the construction of its two European pressurised reactors". European energy commissioner Kadri Simson, who was also at the meeting, said the European Commission remained neutral but considered the meeting as necessary.

The alliance was formed at the initiative of France during a Stockholm summit in February and reiterated at the end of March in Brussels. "This nuclear alliance is being built and deepened, with a format that is designed to last. The minister will probably meet with her partners on the sidelines of the next energy council in Luxembourg," representatives from Pannier-Runacher's cabinet said.

The meeting was organised on the same day as the final vote of the French national assembly on the country's nuclear energy acceleration bill.


Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more