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RTNominal down1.740 -0.040 (-2.247%)

12/11/2019 17:33

Nuclear power output likely to rise marginally in 20 years

[ET Net News Agency, 12 November 2019] Nuclear power generation should remain a part of
the global energy mix despite challenges related to tightening regulations, safety
concerns, aging asset bases, and increasingly volatile energy markets, says S&P Global
Ratings in reports published today titled: "The Energy Transition: Nuclear Dead And Alive"
and "The Energy Transition: Different Nuclear Energy Policies, Diverging Global Credit
"We see little economic rationale for new nuclear builds in the U.S. 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," said S&P's credit
analyst Elena Anankina.
"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."
Nuclear currently accounts for 10% of global power generation.
A carbon-free generation that existing nuclear assets provide, combined with steady
growth in renewables, will be important at least over the next few decades to meet climate
goals and to support stable electricity supply given intermittent nature of renewables,
the report says. Nuclear emits no CO2, is a reliable energy source and promotes grid
The post-2040 outlook for the nuclear industry will depend on the development of
broad-scale energy storage solutions--through batteries or hydrogen--and smart grids, as
well as on government support.
"We expect the credit trajectories of nuclear companies worldwide to differ depending on
national energy policies and the degree of state support for nuclear, said Anankina.
Other important credit drivers include merchant exposure, asset efficiency,
construction risk, waste, and end-of-life management, as well as the availability of
long-term offtake contracts, subsidies, or funding from government-related entities. In
most countries, the cost of nuclear construction has dramatically increased in the past
decade to meet more drastic security and safety requirements. (KL)

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