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    "We must work together, through both individual and national actions across the world, to see the current pandemic crisis concluded. Similarly, we must work collectively to enable new energy technologies to be brought forward and used around the world, for safety to remain high and the public and workers to be protected, and to support economic growth, prosperity, and improvements in the quality of life in both OECD countries and emerging economies without sacrificing the global environment."

    William D. Magwood, IV
    Director-General, NEA

     

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    The role of nuclear energy during COVID-19 and beyond

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    Background

    The Coronavirus (COVID‑19) pandemic has had significant impacts on the global economy and energy sector. It has also underlined the importance of electricity reliability and resilience during major disruptions. With governments considering a broad range of options for economic recovery and job creation, it is becoming increasingly clear that stimulus packages have the opportunity to support energy systems that both fulfil these criteria while meeting long‑term environmental goals and energy security.

    The NEA is examining the regulatory and operational impacts of the crisis, and working closely with its members to enable exchanges of policy approaches and best practices around the world. As part of these efforts, the NEA issued four policy briefs and hosted a series of discussions around these policy briefs to explore the role that nuclear energy can play in the post‑COVID‑19 recovery, whilst also supporting the path towards a truly sustainable and environmentally responsible energy future.

    Nuclear power and the cost-effective decarbonisation of electricity systems

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    Nuclear power and the cost-effective
			  decarbonisation of electricity systemsThe NEA encourages governments to take advantage of the post‑COVID‑19 economic recovery to accelerate the energy transition towards meeting climate objectives.

    • Post‑pandemic recovery plans to reconcile climate objectives with economic goals need to put system costs at the heart of energy policy.
    • Nuclear energy projects achieve deep decarbonisation with optimal use of land and mineral resources.
    • Moving to a carbon neutral electricity system without nuclear power would significantly increase system costs and threaten security of supply.
    • Achieving cost‑effective decarbonisation requires structural reform of the electricity market.

    Creating high‑value jobs in the post‑COVID‑19 recovery with nuclear energy projects

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    Creating high-value jobs in the post-COVID-19 recovery
			  with nuclear energy projectsNuclear power is capable of supplying large amounts of low‑carbon electricity and heat cost‑effectively while creating a large number of high‑value jobs in the local and national economies.

    • The post‑COVID‑19 economic recovery is a perfect opportunity to create jobs and economic development while continuing to move ahead with the energy transition.
    • Investing in nuclear energy creates a large number of high‑skilled jobs, accelerates the transition to a low‑carbon economy, and increases energy resilience.
    • Nuclear energy projects are a proven way to create large numbers of long‑term, high‑skilled domestic jobs that pay premium wages.
    • Nuclear projects provide high spill‑over investment into the local and regional economy.

    Unlocking financing for nuclear energy infrastructure in the COVID‑19 economic recovery

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    Unlocking financing for nuclear energy infrastructure in
			  the COVID-19 economic recoveryThe sheer size of nuclear projects might be a barrier in some markets where private investors are looking for short‑term paybacks. However, during a period of economic recovery, large‑scale and long‑term energy infrastructure projects, such as nuclear power plants, can galvanise the social cohesion and economic spill‑overs required to relaunch general economic activity

    • Governments should incentivise investments in resilient low‑carbon energy infrastructure, such as nuclear energy, in the aftermath of the COVID‑19 pandemic.
    • Proper policy and market frameworks to incentivise investment in essential infrastructure that supports low‑carbon electricity security and economic development are needed.
    • Transitional, targeted government support for nuclear energy projects will be indispensable to unlock the benefits of nuclear energy in the post‑COVID‑19 economic recovery.
    • Government support can and should be leveraged to attract cost‑effective private financing to deliver nuclear energy infrastructure projects.
    • There is currently a window of opportunity for governments to support sustained cost reductions in nuclear energy projects through timely new build decisions – thus reinforcing the process of learning by doing and allowing these designs to move along their learning and cost curves.

    Building low-carbon resilient electricity infrastructures with nuclear energy in the post-COVID-19 era

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    Building low-carbon resilient electricity infrastructures
				with nuclear energy in the post-COVID-19 eraDuring the COVID‑19 crisis, nuclear power has continued to generate electricity reliably and around the clock, ensuring the continuous resilient operation of critical services indispensable to cope with the global health crisis and maintain social stability. Nuclear power has been an important source of power system flexibility, helping to maintain electricity security by operating in a load‑following mode, complementing the supply of variable renewable generation.

    • Electricity security is an essential public need, at the same level as food security and access to health care.
    • Nuclear energy is a key contributor to electricity security and already contributes positively to building a low‑carbon resilient infrastructure at the plant and system levels.
    • Nuclear energy, both new nuclear projects and the long‑term operation of existing reactors, can play a key role in the post‑COVID‑19 economic recovery efforts by boosting economic growth in the short term, while supporting, in a cost‑effective manner, the development of a low‑carbon resilient electricity infrastructure in the long term.

    WebChats

    NEA WebChat on the role of nuclear energy during COVID-19 and beyond

    Wednesday, 24 June 2020

    Discussants

    • William D. Magwood, IV, NEA Director‑General
    • René Neděla, Deputy Minister, Ministry of Industry and Trade of the Czech Republic
    • Agneta Rising, Director General, World Nuclear Association (WNA)
    • Brent Wanner, WEO Senior Energy Analyst, International Energy Agency (IEA)
    • Juan Garin, Policy Analyst, Organisation for Economic Co‑operation and Development (OECD) Directorate for Financial and Enterprise Affairs
    • Julia Pyke, SZC Director of Financing, EDF Energy
    • Atte Harjanne, Member of the Parliament of Finland and Helsinki City Council

  • Building low‑carbon resilient electricity infrastructures with nuclear power in the post‑COVID‑19 era
    10 July 2020, 13:00 CEST

  • Nuclear power and the cost‑effective decarbonisation of electricity systems
    16 July 2020, 13:00 CEST

  • Creating high‑value jobs in the post‑COVID‑19 recovery with nuclear power projects
    21 July 2020, 13:00 CEST

  • Unlocking financing for nuclear energy infrastructure
    28 July 2020, 13:00 CEST
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