Nuclear key to Europe’s competitiveness
Brussels, 9 September 2024: Published today, Mario Draghi’s report on The Future of Europe’s competitiveness makes clear that nuclear is an essential component of the energy mix. According to the report, technology-neutrality and leveraging all available solutions such as nuclear will accelerate decarbonisation in a cost-efficient way.
“The report highlights the key role of nuclear in helping decarbonise the economy and achieve security of supply in a cost-efficient way” states Yves Desbazeille, nucleareurope Director General.
According to the report, the use of long-term solutions such as Power Purchase Agreements (PPAs) and Contracts for Difference (CfDs) can decouple the remuneration of nuclear and renewables from fossil fuel generation and protect end users from more volatile fossil fuel prices. It also underlines the importance of technology neutrality and the need to massively mobilise both public and private finance.
The in-depth analysis which accompanies this report also underlines the importance of ‘new nuclear’ in terms of ensuring reliable supply and promoting “the EU’s leadership in the nuclear industry”. This is reflected in the recommendations for the electricity sector (Figure 15), which state: ”Maintain nuclear supply and accelerate the development of ‘new nuclear’ (including the domestic supply chain).”
“We fully support the conclusions of the report which are in-line with our manifesto issued in June. We therefore encourage the next European Commission to take these proposals on board with the goal of strengthening Europe’s competitiveness”.
About us: nucleareurope is the Brussels-based trade association for the nuclear energy industry in Europe.
The membership of nucleareurope is made up of 15 national nuclear associations and through these associations, nucleareurope represents nearly 3,000 European companies working in the industry and supporting around 1,100,000 jobs.
More information:
- Jessica Johnson, Communications and Advocacy Director: jessica.johnson@nucleareurope.eu
- Andrei Goicea, Policy Director: andrei.goicea@nucleareurope.eu
