Nuclear power stocks hit highs on anticipated surge in demand - Nikkei Asia
Nuclear power stocks hit highs on anticipated surge in demand - Nikkei Asia
TOKYO -- An influx of investor money into nuclear power has lifted stocks tied to the industry and sent uranium prices to a 16-year high amid renewed interest in the energy source from a growing number of countries.
The recent COP28 climate talks included a pledge to triple nuclear power capacity from 2020 levels by 2050, signed by over 20 nations such as Japan, the U.S. and the U.K. -- as well as Morocco and Ghana, which have no plants in operation. Sweden, Sri Lanka and Kenya are moving toward building nuclear power facilities.
Related Knowledge Center: ENERGY BASICS: nuclear
Nuclear energy provides almost 20 percent of the U.S. electricity supply. Advocates have called for an expanded role for nuclear as an emissions-free fuel source. But the economics of building new reactors are daunting. In addition, lingering safety concerns are an institutionalized part of the calculation of nuclear regulation, and highly radioactive nuclear waste remains a can that public officials have been inclined to kick down the road. The Energy Information Administration projects a sharp decline in nuclear power generation over the next decade, as new nuclear plants — two are planned — are more than offset by anticipated retirements of several operating reactors.