Clean Power Plan to Boost Nuclear Power in USA

Uranium (Nuclear Minerals) / Nuclear Power - Economics, Design, & Industry

Date posted: 08/04/15

A core element of the Clean Power Plan allows the states to take credit for future carbon-free electricity generated by nuclear power in meeting the significant carbon dioxide emission reduction targets being set in the Plan. Such credits will apply from nuclear power plants currently under construction or that will be proposed and commence construction in the future. The nuclear power industry, the core end user for uranium, is already in a strong growth phase. According to the World Nuclear Association, there are 67 new nuclear reactors under construction globally today, representing approximately 19% capacity growth over the existing operable nuclear power plant fleet. Of these new facilities, most are in China, Russia and India. The U.S. has the fourth most reactors under construction at five. Another five nuclear plants are currently proposed for the U.S. The unique role of nuclear power in providing carbon-free base-load power is likely to see additional growth to come. The Clean Power Plan for the U.S. is a great boost to the potential for nuclear power to grow in what is currently the largest nuclear power producing country in the world, said Alexander Molyneux, Chairman of Azarga. He went on to say that the Plan highlights the importance of future uranium supply particularly when we consider the U.S. will have a significant domestic supply shortfall.