The global energy crisis has revived interest in nuclear power plants

The sanctions regime, which caused a disruption in the supply of hydrocarbons, as well as unfulfilled hopes for wind generation in Europe and Asia, led to a multiple jump in prices and caused a full-scale global energy crisis. In the face of uncertainty, many countries have again turned their attention to nuclear generation – this year, for the first time in the last 10 years, the volume of investments in nuclear technologies has increased.

“The course towards achieving carbon neutrality by 2050 in Russia and in the world as a whole has not been canceled. But the ways to achieve the stated goals are different for all countries,” said Russian Energy Minister Nikolai Shulgin at the Russian Energy Week 2022 forum, which opened in Moscow. According to him, our country has one of the most balanced energy balances in the world, but this will soon change. Today, the share of low-hydrocarbon generation in it – nuclear and hydroelectric power plants – accounts for about 39%, while 47% is created by gas generation. By 2050, the share of clean nuclear generation will increase to 25% of the country’s total energy balance. Another 38% will come from gas, 20% from hydroelectric power, and 10-12% from renewable energy sources (renewable energy sources, wind, solar, tides – “MK”).

Aleksey Likhachev, CEO of the state corporation Rosatom, noted several controversial trends that have gained momentum in the global energy market. First, the approach to decarbonization in the West in recent years has been superficial and vulgar. “We need to fix the carbon footprint throughout the entire life cycle of a particular energy source, from mining to disposal. And then we will get a completely different picture,” Likhachev explained. Secondly, it is necessary to take into account the technological parameters of generation, its stability and duration of operation. He recalled that nuclear facilities have a hundred-year period of use. Thirdly, when comparing the effectiveness of sources, one should look at the final price for the consumer.

“The ideal energy balance should be based on several types of generation. But with a strategic approach, one of the priorities is nuclear generation. Moreover, Russia is a world leader in this area,” the CEO of the state corporation emphasized. In his opinion, the unique project to create a fourth-generation nuclear reactor BREST-300, launched in Seversk, will strengthen these positions. “Nothing like this is being developed in other countries. In 2026-28, we must launch this unique project in hardware,” Likhachev added. Thanks to the latest BREST-300 closed cycle reactors, nuclear scientists will be able to practically forget about uranium mining and radioactive waste disposal.

Huge prospects are also opening up thanks to small modular reactors with a power of up to 300 MW, including microreactors of 10 MW. Here Russia is also at its best. For example, only our country has an operating floating nuclear power plant, Akademik Lomonosov, moored in the Chukotka port of Pevek. China and Argentina are also far advanced in creating similar know-how.

Another landmark project for our country began in Kaliningrad, where Rosatom is building a large plant for the production of energy storage devices. With its launch, a new energy storage industry will appear in the national economy,” Likhachev said.

Significant successes have been achieved by Russian nuclear scientists abroad as well. In Belarus, with the participation of Rosatom, the first stage of nuclear power plants with water-cooled reactors of the third generation of increased safety was launched, thanks to which 9.3 billion kWh were generated. “With the commissioning of the second power unit of the station, about 18 billion kWh will be generated annually, which is about 40% of the country’s total domestic electricity demand,” said Belarusian Energy Minister Viktor Karankevich.

IAEA Deputy Director General Mikhail Chudakov in his speech confirmed the growing interest in nuclear energy throughout the world. After the Fukushima accident, the popularity of nuclear technology declined. However, this year, for the first time in the last 10 years, the volume of investments increased by 10%. “Over the past 30 years, about $500 billion have been invested in nuclear energy. According to our forecast, by 2050 there should be 873 gigawatts of installed capacity at nuclear power plants. And to achieve this goal, another $3 trillion needs to be invested in the industry,” the expert said.

In the conditions of the energy crisis, the attitude towards a reliable, environmentally friendly and economically profitable source, which are nuclear power plants, has changed. For example, Japan decided to restart its nuclear reactors. California authorities have extended the life of the last operating nuclear power plant for another 5 years. In Germany, they are discussing the possibility of postponing the closure of nuclear power plants in case of a shortage of energy resources. Switzerland and Belgium radically revised their attitude towards nuclear power plants.

“Currently, 32 countries operate nuclear power plants and about 30 have announced plans to develop nuclear technologies,” said Chudakov. – This is an absolute record. Among them there are countries that even a year ago did not think about nuclear energy: Sri Lanka, Estonia, Zambia. Only Austria said a categorical “no”. It is no coincidence that during the last quarter, electricity and gas bills for residents of this Alpine republic tripled: from 300 euros to almost 1 thousand. To avoid social revolt, the Austrian government issued a check for 500 euros to each resident until the end of the year in the form of compensation. A sort of “voucher for light and warmth.” And no one knows what will happen next.

According to the expert, the explosive interest in nuclear generation arose largely due to the sanctions regime and the destruction of the hydrocarbon supply system. The prices for coal, gas, oil, and electricity have risen many times over. The growing population of the inhabitants of the planet also affected. In a number of African countries, the population has doubled within 20 years. People want to live in comfort, so there is an increase in migration. It is necessary to build new generations or new waves of immigrants from Africa to Europe will follow.

“In the context of high volatility in hydrocarbon prices, there is by and large no alternative to nuclear power plants,” Chudakov is sure. According to him, large hydroelectric stations have already been built in suitable places. But many countries are not complaining about the lack of water. So, today, many hydroelectric facilities in China and Brazil operate at half capacity. Because of the drought, many countries in Latin America abandoned their plans to build hydroelectric power plants in favor of nuclear power plants.

There are also problems with RES. For example, in December last year in Northern Europe, where there are many huge wind farms, a complete calm suddenly set in, as a result of which electricity prices rose sharply. South Korea, succumbing to fashion, has also begun to develop wind generation. The country is mountainous, so we decided to install windmills on the shelf. But they were immediately attacked by seagulls, who chose the islands for recreation. The designer simply did not take this moment into account, and the output efficiency fell.

Jordan, which has given preference to solar generation, is increasingly complaining about sandstorms that reduce the efficiency of panels. And you can wash off the sand only with water, which is already in short supply. “Therefore, many countries are leaning towards nuclear energy, which is famous for its cheapness, predictability and stability,” Chudakov concluded.

In addition to nuclear power plants, experts and investors also believe in the future of fusion. There are interesting projects in Russia, China and France. In the US, private companies have invested about $20 billion in fusion technology. No one is throwing money down the drain. But on nuclear technologies – willingly and with a long-range aim.