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Frost & Sullivan: Nuclear Power on Top of European Energy Agenda, despite Embargoes
The number of new projects is higher now than across the last two decades - Europe unlikely to meet its climate goals if nuclear power is marginalised

LONDON, Dec. 13, 2012 /PRNewswire/ -- The aftermath of Fukushima has raised two key questions in Europe. One: is nuclear power with its attendant waste and safety issues worth having? And, two: can Europe, in the absence of nuclear power generation, reduce its dependency on oil and gas imports and meet its climate targets?

New analysis from Frost & Sullivan (http://www.energy.frost.com), European Nuclear Power Sector, finds that nuclear energy is the answer to meeting aggressive EU targets on carbon dioxide emissions and fossil fuels. Despite the environmental risks, nuclear energy shows potential to reduce emissions and dependence on fossil fuels, and therefore, will be a major contributor to the European energy mix in 2020.

"It is difficult to envisage Europe phasing out nuclear power from its energy mix, despite the antagonistic stance of countries like Germany, Switzerland, Italy and Belgium where there are likely to be embargoes on further nuclear power development," noted Frost & Sullivan Energy & Power Supplies Research Analyst, Neha Vikash. "Nuclear power will play an active role in Europe's energy generation and in meeting the region's environmental goals."

The number of nuclear new build projects, despite Fukushima, is still higher now than across the last two decades – although Asia is leading in numbers, the US has approved its first new build since 1970. France, Finland, the United Kingdom and Sweden have all reaffirmed their commitment to nuclear power. In Central and Eastern Europe, Poland, Romania, and the Czech Republic are also planning to push ahead with new units, following increased safety assessments.

"While there will be shutdowns, member states like the United Kingdom and Finland will push through better safety standards and support new nuclear build over the next four to five years," remarked Vikash. "Apart from new builds, these states will also concentrate on increasing the share of electricity generation from renewables and decreasing their dependence on fossil fuels."

Nuclear energy will remain a prime candidate as Europe mulls its decarbonising options. Carbon capture and storage (CCS) could potentially reduce the dependence on coal and gas. However, this technology is still at a nascent stage with few demonstration projects having been implemented.

Renewables represent the best foreseeable option, but are cost-intensive. Moreover, it is not possible for renewables to compensate for the large-scale energy production currently supported by nuclear sources, until the next decade.

"Dependence on foreign imports, especially gas from Russia, is politically fraught," concluded Vikash. "Therefore, nuclear energy will be among the few alternatives Europe is left with to meet its energy needs while staying on course to meet its climate change goals."

If you are interested in receiving a complimentary brochure of this study, please send an e-mail with your contact details to Chiara Carella, Corporate Communications, at chiara.carella@frost.com.

European Nuclear Power Sector is part of the Energy & Power Growth Partnership Service programme, which also includes research in the following markets: European Wind Energy Markets, Global Prospects for Coal-Fired Power Generation and European Solar Power Markets. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organisation prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us:     Start the discussion

Join Us:           Join our community

Subscribe:       Newsletter on "the next big thing"

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European Nuclear Power Sector
M7D5-14

Contact:
Chiara Carella
Corporate Communications – Europe
P: +44 (0) 20 7343 8314
M: +44 (0) 753 3017689
E: chiara.carella@frost.com

http://www.frost.com

SOURCE Frost & Sullivan

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

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