A prerequisite for sustained nuclear renaissance.
Colette Lewiner is executive vice president and global leader of the energy, utilities and chemicals sector at Capgemini. Email her at: colette.lewiner@capgemini.com.
After being out in the cold for many years, nuclear energy is again being embraced as an important source for large-scale energy production. Media, academics, and industry alike have popularized the phrase “nuclear renaissance.” Four converging trends have made this possible: tight energy supply and demand balance, security of energy supply, climate-change related issues, and the maturation of the nuclear power industry.
With safety as its central focus, the industry will be well positioned for the nuclear renaissance.
Supply and Demand
Globally, long-term primary energy supplies are tight, especially oil and gas. Limited resources and insufficient investment over the past 20 to 30 years were compounded by increasing demands from fast-growing developing economies. As a result, oil prices were subject to speculation and record highs. The present economic recession has led to a strong decrease in oil prices during the past months, based on the anticipated reduction in energy demands in both developed and developing countries. However, prices likely will rise again in the longer term and when the economic crisis ends.