Platts Survey: High Capital Costs and Maintaining Public Confidence Cited as Greatest Challenges Facing European Nuclear Power Markets
LONDON, May 8, 2013 /PRNewswire/ -- High capital costs and maintaining public confidence are seen as the greatest challenges facing the European nuclear power industry, according to a recent survey conducted by Platts, a leading global energy, petrochemical and metals information provider. The survey included more than 100 utilities, builders, consultancies, and regulators in Europe and precedes the eighth annual Platts European Nuclear Power Conference set for June 26-27 in Warsaw, Poland.
Political risk, long construction periods, regulatory uncertainty and safety concerns were also highlighted as key hurdles before the Continent's nuclear power companies.
"While most of these challenges are traditional to the industry and likely always will be, they'll likely be heightened as new units, particularly those using new designs, are built," said Platts Chief Editor of nuclear publications Tom Harrison, who reviewed the survey results. "Currently these challenges are being viewed in a particular context, one of: increased concerns about climate change, the pursuit of energy diversity, cost/benefit of competing generating sources, and attention to safety and its costs in the wake of the 2011 Fukushima nuclear accident."
A newer aspect to these challenges, Harrison explained, is that reactor vendors and other suppliers competing for new export opportunities are exploring new ways of packaging deals as nuclear power programs are introduced in other countries.
Industry supporters and detractors are expected to watch closely the first new nuclear projects in Europe to see how they fare as they encounter those political, financial, regulatory and safety issues.
When asked about the future of nuclear power capacity expansion in Europe, 80% of respondents said that nuclear power would succeed in gaining a larger share of the Continent's overall power generation mix.
"The sector is at a critical juncture, with opportunities for growth, but with key challenges and uncertainties that must be overcome in terms of regulatory structure, human resources, and financing arrangements in the next few years," said one survey respondent.
These and other topics will be discussed in depth at the two-day Platts European Nuclear Power Conference, which will feature keynote addresses, panel discussions and outlook presentations from notable speakers including the former Prime Minster of Poland Jerzy Buzek and government officials from Poland, European Commission, U.K., Malaysia and China.
A host of private industry representatives are also slated to offer outlook presentations at the June conference, including executives from PGE EJ 1 and PGE Energia Jadrowa, EDF Energy, Vattenfall, CEZ, GE Hitachi, Westinghouse, AREVA and Rolls-Royce, among others. For a complete listing of speakers and for full schedule details, see the conference agenda.
Corporate and industry executives may register to attend the Platts European Nuclear Power Conference at the general registration link. Accredited media may attend the conference as guests of Platts by pre-registering at this link.
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