Nucleareurope releases action plan to stimulate EU nuclear investments

"For more than 70 years, nuclear has delivered stable, clean power across Europe," Nucleareurope says. "Today, with electrification accelerating, data centres multiplying, industries racing to decarbonise and global pressures intensifying, its value is clearer than ever. In this context, nuclear brings concrete and measurable benefits to all EU countries, regardless of whether these countries have nuclear facilities or not. It provides firm, dispatchable clean power that stabilises the grid and complements renewables. It strengthens Europe's energy sovereignty by reducing dependence on imported fossil fuels. It supports industrial decarbonisation with decarbonised electricity, heat and hydrogen. And it anchors a world-leading European value chain that supports 900,000 skilled jobs."

In the latest Communication on the European Commission's eighth Nuclear Illustrative Programme (PINC), published in June last year, the European Commission assessed that lifetime extensions and new large-scale reactors planned by member states will need investment of EUR241 billion (USD279 billion) by 2050 - with more needed for small modular reactors and advanced modular reactors. It says that installed nuclear capacity is projected to increase from 98 GW in 2025 to 109 GW by 2050.

"Unleashing the power of nuclear will require a technology neutral, long-term policy framework," Nucleareurope says. "Furthermore, a series of concrete policy steps at EU level are needed to further support these investments, reduce time delays and cost overruns."

The trade body has now published an action plan aimed at creating the right policy environment to maximise the contribution of nuclear.

The plan centres around five main policy groupings: a long-term policy vision to stimulate net-zero with nuclear; an equitable financial framework to stimulate investments in nuclear; an accelerated regulatory framework to speed up nuclear deployment; investing in the entire fuel cycle to ensure security of supply; and a policy framework sustaining a supply chain based in Europe.

"We need to decarbonise our economy, secure our energy supplies, protect our industrial competitiveness and keep our energy affordable," said Xavier Ursat, Nucleareurope President. "As an industry we are committed to helping Europe overcome these challenges. Nuclear is key in this respect. It is a homegrown technology that will ensure energy sovereignty. Its low emissions make it the ideal partner in decarbonising our economy. It is also affordable and available 24/7."

"As highlighted under the latest Nuclear Illustrative Programme, significant investments will be required over the next two decades in order to ramp up the deployment of nuclear projects," added Nucleareurope Director General Emmanuel Brutin. "Our action plan outlines how EU policies can really help stimulate these investments, bringing significant benefits to the entire EU."