The urgency of the climate crisis means that the world cannot wait for a decade or more to find out whether emerging technologies – such as carbon capture and storage (CCS) – will work, the former chair of Parliament’s energy and climate change committee has warned. In a speech late last week at the 2019 forum of the New Nuclear Watch Institute, which he chairs, ex-MP Tim Yeo outlined his proposals for a European Green New Deal as an emergency response to the climate crisis. “It’s very now clear that the decarbonisation of the power sector must proceed very rapidly if we are going to meet net-zero by 2050. We can’t sit around waiting for an economic form of CCS to become viable in 10 or 15 years,” he said. Adding similar concerns over the timeframe for bringing forward large-scale storage, Yeo said the urgent nature of the climate challenge is a “big opportunity for the nuclear industry” which it has “got to seize”.
Edie 12th Nov 2019 read more »
“We see little economic rationale for new nuclear builds in the US or Western Europe, owing to massive cost escalations and renewables cost-competitiveness, which should lead to a material decline in nuclear generation in those countries by 2040,” S&P Global Ratings Credit Analyst Elena Anankina, said in a statement to accompany the reports. “But developing countries such as China and Russia continue to build new nuclear capacities to supply growing energy demand, supported by funding from the government or from state-related banks and significantly lower construction costs.”
World Nuclear News 12th Nov 2019 read more »