Von der Leyen: Less nuclear power a "strategic mistake" in retrospect

Electricity prices are “structurally too high,” said EU Commission President Ursula von der Leyen this morning in Paris. She also expects robotics and AI to provide a significant boost, which depends heavily on electricity availability and costs. “Europe is neither an oil nor a gas producer. When it comes to fossil fuels, we are completely dependent on expensive and volatile imports,” said von der Leyen at the “second World Nuclear Energy Summit” in the French capital. Nuclear power and renewable energies can cover energy demand together, said von der Leyen.

“While in 1990 a third of European electricity was generated from nuclear power, this share is now only about 15 percent,” said von der Leyen. The current Commission President and CDU politician sat in the Merkel II cabinet as Minister of Labour during the German cabinet's decision on the nuclear phase-out after the Fukushima disaster. “This reduction was a decision,” said von der Leyen. “And in retrospect, it was a strategic mistake for Europe.”

Revival of Nuclear Power

Von der Leyen emphasized that this must change. Europe wants to be part of the revival of nuclear power. The combination of nuclear energy and renewable energies is crucial for affordable, resilient, and European electricity supply.

The EU Commission intends to present further measures for affordable and clean energy late this afternoon. Among other things, more detailed plans for small modular nuclear reactors (SMRs) will be presented. These are expected to be available in the early 2030s and flexibly supplement the electricity system.

Von der Leyen announced financial guarantees of 200 million euros today, sourced from emissions trading. This is intended to further incentivize investments in the technology. “The nuclear race is on,” said von der Leyen this morning in Paris. But Europe has everything it needs to lead in it.

The EU Commission President did not comment on where the nuclear fuel required for the power plants would come from. Currently, EU member states are dependent on uranium ore supplies from other regions of the world for the operation of their existing nuclear power plants. According to the World Nuclear Association, not a single EU country is among the 12 largest uranium-producing countries. The largest deposits are located in Australia, Kazakhstan, Canada, Namibia, Russia, and Niger.

(mack)