Nuclear

The nuclear industry worldwide has suffered from the impacts of three well publicised accidents. Three Mile Island, Chernobyl, and Fukushima where the reasons were clear and avoidable. However, emotion took charge of many Governments decisions and new projects are very scarce and Germany banned nuclear operations with the effect of making their country even more dependent on Russian gas, which, following the invasion of Ukraine, they are now having to relieve by other means.

The German decision was despite the fact that for decades their neighbour, France has generated more than 70% of needs from nuclear stations, exporting surplus to the UK because of the hour difference in peak needs. The UK still has around 20% of its power from either home produced or imported nuclear power. Once built nuclear stations are carbon free but take at least a decade to complete at a very high capital cost, but they are ideal for baseload, a fact acknowledged by the recent Government Energy Strategy.

The UK Government has recently changed the financing formula which may encourage nuclear investment. The then Prime Minster Boris promised 10 Nuclear stations, an echo of Mrs T. I hope they happen, but they will not solve the current energy price crisis.

The Government have also put money into Small Nuclear Reactors (SMRs) which have the potential to be built in factories and transported to a large facility to provide the energy needs of say a shopping centre or large office or factory. They are akin to the nuclear power units in submarines and ships that have operated trouble free for many years.

Further reading: https://www.rolls-royce.com/innovation/small-modular-reactors.aspx#/