Nuclear energy is a contentious subject in the western world where its future looks increasingly bleak. While nuclear power plants are still the biggest source of carbon-free electricity in most developed countries, the associated risks easily swing voters towards less ‘dangerous’ sources despite the industry’s excellent track record. The new U.S. administration of President Biden needs to develop a clear policy regarding what it intends to do with the country’s aging fleet. According to S&P Global Platts Analytics, roughly 8 GW is slated for retirement while another 5 GW is at high risk of retirement before license expiration. If these plants were to be closed, the replacement, which most likely would come from gas-fired power plants, could produce 39 million mt/year of CO2, or 2 percent of the emissions in 2016. Last month New York’s 59-year-old 1.04 GW Indian Point nuclear power plant was already closed.
Oil Price 27th May 2021 read more »