Nuclear energy had been falling further and further out of favor amid falling costs for renewable energy installations. But suggestions of its death have been highly exaggerated. The $1-trillion bipartisan deal that the Senate approved earlier this month envisages $6 billion to support nuclear power. And some utilities are considering mini reactors to support their emission reduction efforts. There is perhaps no better proof that nuclear power would be needed in the net-zero world than the fact that the infrastructure bill—which runs for 2,700 pages—seeks to support existing nuclear plants that are becoming uneconomical in competition with cheap gas and renewables. Apparently, these projects need to be made economical again in order to secure future electricity supply for an economy that, if plans pan out, will run overwhelmingly on electricity.
Oil Price 9th Aug 2021 read more »