The nuclear industry received a further blow today with the publication of the World Nuclear Industry Status Report 2017. This reveals that the last year has seen a catalogue of closures and construction delays as well as bankruptcies. It also reveals that growth in renewables massively outstripped growth in nuclear generation. The report comes on the back of news earlier this week revealing the costs of offshore wind are now far cheaper than the agreed price for energy generated from the troubled Hinkley nuclear power station in Somerset.
Commenting on the release of the report, Molly, who jointly funded it along with other Green MEPs, said:
“I have long supported the World Nuclear Industry Status Report, which is written by scientists to provides a crucial resource for those engaged in the political debate around nuclear power. It presents invaluable facts which get behind the spin put out by the nuclear lobby.
“This latest report shows that far from a nuclear renaissance, the sector is in financial meltdown and plagued with technical difficulties. It is also clear that renewables are the way forward and this is where the smart money is being invested. Globally, wind power output grew by 16% and solar by 30% in the last year, compared to the miniscule 1.4% growth seen by nuclear.
“This report comes hot on the heels of an announcement at the beginning of the week revealing that two offshore windfarms will be built producing electricity for just £57.50 per MWh, compared with the £92.50 per MWh guaranteed for Hinkley’s nuclear power.
“It’s time to ditch Hinkley and other nuclear power stations planned for the UK. The release of the World Nuclear Industry Status report shows clearly that nuclear is an economic liability and financial risk. It is time to embrace renewables as the way to genuine energy security as well as guaranteeing lower energy costs for businesses and consumers.”
See also blog post by Rebecca Harms, co-president of the Greens/EFA group in the European Parliament.