Nuclear energy faces the risk of withdrawing from the European energy market due to pricing

Source: Ministry of Commerce October 24, 2019

Bloomberg News September 26 news. The French power company announced on Wednesday that the investment required for two new reactors in Hinckley, UK, would be 2.9 billion pounds ($3.6 billion) higher than previously forecast, highlighting the rising cost of the industry. In addition, new nuclear power plants in Finland and France have fallen behind schedule and exceeded budget. This is in sharp contrast to the rapid decline in wind and solar costs. According to the \"2019 State of the World Nuclear Industry Report\", the cost of new nuclear projects increased by 23% between 2009 and 2018. Over the same period, utility-scale solar costs fell by 88%, and wind energy costs fell by 69%. In the past, the political trend of continental Europe in support of nuclear power was changing. Governments around the world are looking for low-carbon technologies, but cost issues are increasingly pushing them toward renewable energy.