Majority of reactors in nuclear power plants in the European Union are at risk of shutting down by 2030 unless about 50 billion euros ($56 billion) are invested in extending their service life, European Energy Commissioner Kadri Simson said on Tuesday
BRUSSELS (Pakistan Point News / Sputnik - 30th November, 2021) Majority of reactors in nuclear power plants in the European Union are at risk of shutting down by 2030 unless about 50 billion Euros ($56 billion) are invested in extending their service life, European Energy Commissioner Kadri Simson said on Tuesday.
"Today, the average age of the EU nuclear fleet exceeds 30 years. And according to our analysis, without immediate investments, around 90% of the existing reactors would be shut down around the time when they will be needed the most: in 2030," Simson said at the World Nuclear Exhibition.
To "safely" extend their lifetime, the EU will require to urgently invest between 45-50 billion euro, she noted.
"And to keep roughly the same nuclear generation capacity as today more than ten Member States are planning about 400 billion euro in investments for new capacity installed by 2050," she added.
Simons said that nuclear power was the most prevalent low-carbon and stable source of energy, which could ensure the bloc's energy security, reduce reliance on fossil fuels and help reach climate targets. She further called for timely investments to make nuclear energy production in Europe possible and competitive.
