The Nuclear Conundrum

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

Date posted: 01/27/16

Jeff Desjardins reports that the nuclear industry today certainly has its immediate challenges. Construction costs had already been a long problem, but the incident at Fukushima complicated matters even further. The industry and regulators were forced to take a second look at its safety practices and plant designs, creating uncertainty for the sector. As of today, 2006 still remains a peak for global nuclear power generation in terms of total output, and it has steadily declined since then. There is also another creeping issue for the industry that is raising eyebrows. According to The World Nuclear Report, there are 391 nuclear reactors in operation throughout the world. However, the median age of these reactors is now 28.8 years, due to the majority of power plants being built between 1970 and 1985. The design specifications for most nuclear reactors envision an operating lifespan of 30 to 40 years. In the U.S. specifically, nuclear utilities are initially licensed for 40 years. Near the end of that initial time frame, they can apply for an additional 20 years. There are many experts who believe that older reactors are not a problem and most operators are doing what they can to extend the life of their reactors.