The nuclear option: Atomic energy could offer Europe hope, say analysts — but it won't be easy

europe's reliance on imported energy is getting exposed by the iran war and the closure of the strait of hormuz. analysts say nuclear power could be a lifeline, but it won't be easy. upfront costs are huge, waste disposal is a problem, and chernobyl and fukushima still haunt public memory.

nuclear currently makes up just 11.8% of europe's energy mix, while oil and gas account for over a third. france is the exception — over 60% of its power comes from nuclear, and its energy prices are significantly lower than germany's. iea chief fatih birol said nuclear would get a "boost" from the supply crisis. wood mackenzie's chris seiple thinks nuclear has to play a big role, but only if europe finds a cheaper way to build — possibly using chinese technology. that's a political non-starter for now, according to chatham house's chris aylett.

the uk's hinkley point c, its first new reactor in over 30 years, started construction in 2016 and won't finish until the end of the decade. france's flamanville 3 took 17 years. south korea's climate minister kim sung-hwan called the war a "significant turning point" for his country, saying nuclear and renewables will be the "two central pillars" of future supply.

source: cnbc_topnews
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