Outlook Bright for New Nuclear Worldwide

By John Stewart
Director, Policy and Research
Canadian Nuclear Association

The outlook is bright for the global nuclear energy picture, according to speakers and experts at this year’s Nuclear Energy Assembly (NEA) in Scottsdale, Arizona.

Seventy two reactors are currently under construction worldwide, and the World Nuclear Association base case predicts 55 per cent growth in nuclear generation by 2050.

Former U.S. Trade Representative Ron Kirk told the conference, which was attended by Canadian Nuclear Association President John Barrett and CNA policy director John Stewart, the global revival of nuclear energy is a unique opportunity for U.S. trade in both large and small reactor designs and advances critical U.S. interests.

Kirk, who is also co-chair of the Clean and Safe Energy Coalition, cited Commerce Department statistics that show the international nuclear export market will be worth up to $740 billion over next decade. He said most opportunity for new nuclear builds will come from emerging markets.

NuScale CEO John Hopkins told the NEA his company is focusing on attracting investment and that small reactors are now “going to happen.”

Hopkins said the focus now is on replacing coal. There are also small reactor applications in the oil and gas sector, and an active market opportunity in the UK.

Meanwhile, the conference was also warned about potential issues that may come with the globalization of nuclear energy.

U.S. Nuclear Regulatory Commission (NRC) Chair Allison Macfarlane asked for industry’s engagement to help improve regulatory regimes in countries that are new to nuclear.

“I also believe that we each have a particularly important responsibility when it comes to countries considering new nuclear power programs,” she said.

“I would argue that the presence of an effective, independent, well-resourced nuclear regulator is a strength – but perhaps more importantly, the absence of such an organization should be viewed as a threat, both to a good investment and to nuclear safety.”

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