Funding new nuclear: What price risk transfer?
VIEW ON DEMAND: While the UK pushes on with new nuclear financing structures, doubts remain about how to deal with cost overruns and de-comissioning risk.
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Nuclear power stands at a critical point in the energy transition. It can produce large amounts of low-carbon baseload power. But it has a troubled record of cost overruns and safety failures.
While debate rages about whether solar, wind and storage can compensate for the loss of coal and oil capacity, the big nuclear developers are trying to convince governments that a new generation of reactors offer the best chance to meet rising power demand and decarbonisation goals.
Nuclear's future is cloudy. Japan, in the wake of the Fukushima disaster, is proceeding cautiously with the restarting of its fleet, while Germany plans to retire its fleets, even if lignite-fired units are its only alternative.
But the US has been generous in providing loan guarantees for new nuclear, and the United Arab Emirates has pressed ahead with a nuclear power programme. And the UK recently approved a new financial regime for new nuclear construction.
Joining Proximo to look at the outlook for nuclear, its opportunities and challenges are three experienced market figures.
Thomas Hopkins, Proximo (Moderator)
Jason Crowell, managing partner, Peace | Crowell
Steven Barnes, executive director, Cranmore Partners
Elena Anankina, senior director, Standard & Poor's