May 26 Uranium prices: countries split on future use of nuclear power

By Leia Toovey / May 26, 2017 / www.economiccalendar.com / Article Link

It is unanimous that we can expect nuclear power use to increase in the future, but a close examination of different countries' plans for nuclear power use shows a very split perspective.

While dozens of nuclear power plants are currently under construction, they are located primarily in developing countries: with China and India leading the way.

China and India are fully embracing a nuclear future, but Europe is moving away from nuclear power as part of its energy mix. In Europe, the decommissioning of nuclear power plants is picking up steam. The Swiss recently voted to phase out nuclear power. Germany made the same decision in 2011.

This week at the 8th Annual Nuclear Decommissioning & Waste Management Conference when participants were asked where they see the biggest opportunities in nuclear decommissioning and waste management over the next five years, 57% said Germany. Next in line was the UK (30%), then France (2%), and Sweden and Switzerland both received a 2% vote, according to the World Nuclear News.

While Europe may be moving away from nuclear power, demand from China and India is expected to more than compensate. While Europe may be in the position to use less nuclear power, in many countries around the world nuclear power is the most economical and environmentally friendly way to increase electricity generation.

This week, The Minerals Council of Australia urged the Australian government to consider nuclear power in its future. Speaking at the Paydirt South Australian Resources and Energy Investment conference MCA's executive director for uranium, Daniel Zavattiero, said: "There remains strong potential for nuclear energy in Australia's power mix. We have a well-established Australian uranium industry and we have a platform for a bigger conversation around harnessing this baseload energy opportunity." There are currently no operating nuclear power plants in Australia.

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