The China Mail - Nuclear's EU comeback on show at Brussels summit

USD -
AED 3.672498
AFN 63.500465
ALL 83.283733
AMD 367.003219
ANG 1.790403
AOA 917.000184
ARS 1471.035205
AUD 1.449338
AWG 1.80125
AZN 1.689175
BAM 1.724577
BBD 2.013888
BDT 122.992813
BGN 1.69088
BHD 0.377147
BIF 2984.81535
BMD 1
BND 1.298984
BOB 6.909809
BRL 5.201836
BSD 0.999934
BTN 94.624111
BWP 13.680173
BYN 2.818068
BYR 19600
BZD 2.01104
CAD 1.423225
CDF 2268.99975
CHF 0.81263
CLF 0.023263
CLP 915.590329
CNY 6.790496
CNH 6.81352
COP 3428.35
CRC 455.186766
CUC 1
CUP 26.5
CVE 97.22259
CZK 21.37625
DJF 178.061717
DKK 6.592015
DOP 58.613453
DZD 133.528416
EGP 49.636698
ERN 15
ETB 161.211774
EUR 0.88182
FJD 2.24825
FKP 0.758197
GBP 0.759805
GEL 2.645016
GGP 0.758197
GHS 11.199781
GIP 0.758197
GMD 72.49805
GNF 8761.518452
GTQ 7.627362
GYD 209.162776
HKD 7.840295
HNL 26.755726
HRK 6.640898
HTG 130.744947
HUF 314.087979
IDR 17976
ILS 2.984749
IMP 0.758197
INR 94.412
IQD 1309.878094
IRR 1375049.999798
ISK 126.810208
JEP 0.758197
JMD 157.488647
JOD 0.708978
JPY 161.677495
KES 129.590162
KGS 87.449821
KHR 4017.494974
KMF 430.999856
KPW 900.00035
KRW 1546.34502
KWD 0.30947
KYD 0.833297
KZT 486.623047
LAK 21948.961236
LBP 89556.012134
LKR 337.341005
LRD 182.134827
LSL 16.623945
LTL 2.95274
LVL 0.60489
LYD 6.430933
MAD 9.401479
MDL 17.709096
MGA 4177.101337
MKD 54.353625
MMK 2099.539901
MNT 3580.066416
MOP 8.076099
MRU 39.982188
MUR 48.209966
MVR 15.45971
MWK 1733.881812
MXN 17.6195
MYR 4.137977
MZN 63.902143
NAD 16.623945
NGN 1372.679674
NIO 36.797319
NOK 9.83835
NPR 151.394749
NZD 1.772154
OMR 0.384501
PAB 0.999965
PEN 3.391297
PGK 4.386951
PHP 61.5525
PKR 278.100478
PLN 3.78105
PYG 6099.351442
QAR 3.635217
RON 4.618803
RSD 103.50701
RUB 74.893431
RWF 1468.89467
SAR 3.754889
SBD 8.065041
SCR 13.65272
SDG 600.499082
SEK 9.77475
SGD 1.29826
SHP 0.746601
SLE 24.750204
SLL 20969.503664
SOS 571.478959
SRD 37.482989
STD 20697.981008
STN 21.603509
SVC 8.749173
SYP 110.532098
SZL 16.621989
THB 33.430499
TJS 9.284423
TMT 3.51
TND 2.972467
TOP 2.40776
TRY 46.49775
TTD 6.780184
TWD 31.733017
TZS 2620.502978
UAH 44.88455
UGX 3689.350352
UYU 39.918699
UZS 12024.108178
VES 616.865275
VND 26335
VUV 118.798432
WST 2.761642
XAF 578.424923
XAG 0.016838
XAU 0.000248
XCD 2.70255
XCG 1.802141
XDR 0.716966
XOF 578.417273
XPF 105.162912
YER 238.649503
ZAR 16.61355
ZMK 9001.202706
ZMW 18.024056
ZWL 321.999592
  • RYCEF

    -0.4700

    18.16

    -2.59%

  • RBGPF

    0.9600

    61.3

    +1.57%

  • RIO

    -3.7800

    95.58

    -3.95%

  • GSK

    1.3300

    52.07

    +2.55%

  • CMSD

    -0.1200

    21.96

    -0.55%

  • BTI

    1.8400

    60.74

    +3.03%

  • NGG

    0.6000

    81.57

    +0.74%

  • BCE

    0.3900

    23.04

    +1.69%

  • CMSC

    -0.0500

    22.11

    -0.23%

  • VOD

    -0.0700

    14.05

    -0.5%

  • BCC

    -0.7400

    71.8

    -1.03%

  • JRI

    -0.0200

    12.63

    -0.16%

  • RELX

    0.3800

    31.21

    +1.22%

  • AZN

    4.5900

    181.02

    +2.54%

  • BP

    -0.4500

    39.33

    -1.14%

Nuclear's EU comeback on show at Brussels summit
Nuclear's EU comeback on show at Brussels summit / Photo: © AFP

Nuclear's EU comeback on show at Brussels summit

Promoting nuclear power was long taboo in Brussels, but a high-profile international summit Thursday will send loud and clear the message that atomic energy -- now touted by its champions as key to fighting climate change -- is back.

Text size:

Gone are the days when Berlin's anti-nuclear stance set the tone: in the past two years atomic pioneer France has been decisive in crafting friendlier regulation, and putting nuclear back on the EU's agenda.

Rafael Grossi, the head of the International Atomic Energy Agency (IAEA) which is organising this week's meet in Brussels, is a leading proponent of nuclear as a "clean and reliable source of energy."

"The world needs much more of it," says Grossi, who sees "a growing realisation that nuclear energy is an indispensable part of the solution to some of the most pressing global challenges of our time."

The IAEA's first summit held to promote nuclear energy brings together representatives from some 50 countries -- from the EU but also the United States and China -- and 25 leaders including France's Emmanuel Macron.

"For the past four years, we have been sowing seeds -- they began to grow, and now we are reaping the harvest," said EU lawmaker Christophe Grudler, from Macron's centrist Renew Europe party.

Back in 2021, European Commission chief Ursula von der Leyen made headlines by arguing the EU needed nuclear as a "stable source" of energy -- and Brussels went on to label it among its list of "sustainable" investments.

By early 2023, France was spearheading the launch of a "nuclear alliance" of a dozen EU members including Poland, Bulgaria, Finland and the Netherlands, with a view to weighing on policy.

With notable successes so far: last June, Paris secured a change to EU renewable energy rules to recognise nuclear power as a way to produce low-carbon hydrogen.

In December EU states and lawmakers reached a deal on public aid for investment in existing nuclear power plants, then in February on including nuclear in a law cutting red tape for "net-zero" emission technologies.

Finally, Brussels included nuclear energy in its roadmap to reaching its 2040 climate goals, and in February it launched an industrial alliance to speed up the development of small modular reactors (SMRs).

- Convert the 'momentum' -

With 100 reactors currently in service across 12 countries, nuclear accounts for about a quarter of electricity produced in the EU, and almost half its carbon-free power.

Around 60 reactors are at various stages of planning or construction, one third of them in Poland.

Massimo Garribba, deputy director general at the European Commission's energy department, told a conference Monday he had seen a "change of attitude" among EU members these past 18 months.

"They have become much more outspoken," he said, "but also they have been working together to try and set up an agenda."

The French-led nuclear alliance says that "momentum must now be converted into a comprehensive and enabling European framework for nuclear development" -- including its financing.

Its members want nuclear and renewables put on a strict equal footing without "discrimination" in the bloc's goal of becoming carbon neutral by 2050.

The alliance wants that equality to apply to European Investment Bank financing, to the "Hydrogen Bank" funding instrument set up to boost sustainable hydrogen, and to any revisions of EU rules on renewables.

Despite the EU's more accommodating stance, the nuclear vs. renewables debate is still fuelling a standoff between Paris and Brussels: France failed to meet EU-set renewable targets in 2020, but is refusing to make amends -- arguing that its carbon footprint is low enough thanks to nuclear.

"France will not be paying penalties," warned its economy minister Bruno Le Maire this month. "These goals of having this many wind turbines, that many solar panels -- that's a Europe that we don't want any more."

- 'Theoretical' -

Likewise when it comes to a new French energy strategy that includes no goals for renewables: Brussels wants it to set targets by June, with at least 44 percent of renewables by 2030, against 20 percent now.

France's stance is anathema to many environmental activists -- and to EU countries like Spain, Austria, Germany and Luxembourg which together form a "Friends of Renewables" alliance within the bloc.

"We have never thought about mixing or exchanging renewable and nuclear," Spanish energy and climate minister Teresa Ribera said in December.

Sven Giegold, a German state secretary for the economy, said the promise of nuclear remains largely "theoretical" with many projects at planning stage -- making the case instead for "competitive" renewables.

Rejecting that argument, the centrist Grudler said SMRs will be a reality by 2035, and new generation EPR reactors by 2040.

"That is still a way off, but it's now that we need to create the framework and the financing plans," he said.

W.Tam--ThChM