nucleareurope discusses nuclear supply chain at Resourcing Tomorrow Conference

On 4 December 2024, nucleareurope Legal and International Relations Director Berta Picamal participated in a panel discussion on uranium and nuclear’s roles in the energy transition, organised in the framework of the Resourcing Tomorrow Conference taking place in London.

In her intervention Berta gave an overview of current contributions of nuclear to the European energy system and economy, highlighting that nuclear produces close to half of the EU’s low-carbon electricity, with its share increasing at times when renewables production is hindered by lack of wind or sunshine. She added that nuclear also provides around 1 million jobs across Europe, and is key to the EU’s industrial competitiveness, energy security, and affordability.

“The perception of nuclear energy is evolving throughout Europe, and leading to policy changes at national and European levels. We welcome for example the recent inclusions of nuclear in the Sustainable Finance Taxonomy and in the Net-Zero Industry Act” said Berta, adding that many Member States have also announced plans to continue using or invest in nuclear energy.

Berta however stressed that despite the recent positive policy developments, nuclear is still not treated on an equal footing with renewables, and remains excluded from some EU funding and financing tools. Furthermore, the nuclear fuel cycle is not included in the Sustainable Finance Taxonomy, jeopardising efforts towards the development of a European nuclear supply chain.

Berta concluded her presentation by noting that with rising demand for nuclear fuel, countries such as Romania are considering mining uranium and could support a European nuclear supply chain, but that investments in mining projects need to be derisked by speeding up permitting processes and providing a long-term policy vision.