Skip to main content

The EU cannot decide if nuclear power is a clean power.

 

Nuclear plant
The EU remains dead­locked over whether to recog­nise nuc­lear power as equal to renew­able energy, as France and Ger­many sparred at a sum­mit yes­ter­day.

French pres­id­ent Emmanuel Mac­ron told journ­al­ists after a meet­ing with Ger­man chan­cel­lor Olaf Scholz that he was hope­ful of find­ing an agree­ment with Ger­many, which is one of the sev­eral coun­tries oppos­ing French efforts to have nuc­lear recog­nised as a low-car­bon energy source.

But no accord was reached.

Ger­many is not opposed to the use of nuc­lear in the pro­duc­tion of hydro­gen, which was the topic of a joint declar­a­tion with French min­is­ters on Janu­ary 22. But Ber­lin is not will­ing to treat nuc­lear energy as equi­val­ent to renew­ables such as wind or solar, which would give it priv­ileged access to EU fund­ing.

Ursula von der Leyen, European Com­mis­sion pres­id­ent, said on Thursday that nuc­lear could «play a role» in Europe’s decar­bon­ising effort, adding that only «cut­ting edge» nuc­lear tech­no­logy might get access to sim­pli­fied rules and incent­ives in the EU’s recently launched draft Net Zero Industry Act. In France’s camp, Pol­ish prime min­is­ter Mateusz Mor­awiecki said nuc­lear power should be eli­gible for EU fin­an­cing. Nuc­lear energy «abso­lutely should be given the same status as we do not have tech­no­logy to store energy from renew­ables».

Warsaw last year dis­cussed part­ner­ing with the US and France to develop nuc­lear power in Poland in line with its plans to com­mis­sion its first nuc­lear plant in 2033.

Mor­awiecki slammed the EU’s efforts to decar­bon­ise its eco­nomy, however, say­ing the bloc should slow its efforts to reach net zero emis­sions in line with coun­tries such as Rus­sia and China.

www.sba.tax

Labels:

Comments

  1. Joseph25 March 2023 at 11:46

    Nuclear power, in its current form, can't be equal to renewable energy no matter what some may say. If it's improved, maybe. Right now we should focus on increasing production of renewable energy at a steady pace, reliable pace. And we must also realize that we will most likely need nuclear power for at least 10 years.

    ReplyDelete
    Replies
    1. Arthur25 March 2023 at 11:55

      If we constantly bash nuclear power and consider it the root of all evil we won't get anywhere. So I agree, let's invest in renewable energy and turn it into our main energy source, but do it over time, not in 1 year. Let's build something good, that will last. And yes, we still need nuclear power for the time being.

      Delete

Post a Comment

Cloud Bookkeeping

Google has launched its Bard chat­bot.

  Google has launched its Bard chat­bot in a move to rival OpenAI’s pop­u­lar Chat­GPT, as it seeks to make up lost ground in the race to com­mer­cial­ise gen­er­at­ive arti­fi­cial intel­li­gence tech­no­logy. Google said that Bard, which provides answers to text­based ques­tions, will be run sep­ar­ately from its Google Search engine. In recent weeks, gen­er­at­ive AI has also been integ­rated into widely used pro­ductiv­ity applic­a­tions, such as Google’s Work­space includ­ing Google Docs and Gmail, and Microsoft’s Office 365 soft­ware, as well as into pop­u­lar apps such as Duolingo, allow­ing mil­lions of people to start inter­act­ing with the tech­no­logy. «We want to get feed­back and gradu­ally phase up the num­ber of people who have access to Bard, and the reason for that is we want to be able to test and learn from that before we roll it out very widely,» said Zoubin Ghahramani, vice-pres­id­ent of Google Research. Bard is built on top of Google’s AI tech­no­logy known a...
3 comments
Read more

HS2 cost cuts new routes and add delays.

 Trans­port depart­ment offi­cials have begun work on «Project Sil­ver­light» sug­gest­ing the high­speed rail scheme might face four addi­tional years of delay. The planned High Speed 2 rail line faces fur­ther delays of up to four years and more cuts to the project under plans being drawn up by min­is­ters to rein in its bal­loon­ing costs. The extra delays to the coun­try’s biggest infra­struc­ture project would mean that it would not be com­pleted until as late as 2045 — 12 years after ori­gin­ally planned. «This is a func­tion of infla­tion; we are hav­ing to find huge sav­ings because the cost of everything the depart­ment is already doing will have become so much more expens­ive by then,» said one gov­ern­ment offi­cial. In Octo­ber, the FT repor­ted that the Treas­ury had asked HS2’s man­age­ment team to identify poten­tial cuts or «scope reduc­tions» to the high-speed line. Trans­port depart­ment offi­cials have sub­sequently begun work on Project Sil­ver­light aimed at fi...
4 comments
Read more

Doubt on CS's collateral.

  Credit Suisse provided an emergency $140mn loan to Greensill Capital based partly on invoices to companies that deny ever doing the business stated on the documents. The Swiss bank provided the loan in October 2020, less than five months before the collapse of Greensill, a supply chain finance firm that counted former British prime minister David Cameron as a senior adviser. Invoices issued by metals magnate Sanjeev Gupta’s Liberty Commodities and sold to Greensill formed part of the collateral for the loan, according to documents seen by the Financial Times and people familiar with the transaction. Yet several of the parties named on the invoices have told the FT they did no business with Liberty. GFG has consistently denied any wrongdoing. Credit Suisse’s loan had a clause dictating that the collateral value had to be equal to or greater than the $140mn borrowed. The terms of the debt agreement only allowed invoices on Green-sill’s balance sheet to count towards this tally if t...
2 comments
Read more