The Economics of Nuclear Power
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The Economics of Nuclear Power is a 2007 report commissioned by Greenpeace which argues that many countries have seen nuclear construction programs go considerably over budget. It explains that the nuclear power industry is facing limited interest in its technology, escalating costs, construction delays, and safety failings. Europe's newest reactor in Finland, at the Olkiluoto nuclear power plant, is 18 months behind schedule and €700 million over budget.[1][2] Stephen Thomas, an author of the report and professor of energy policy at Greenwich University, has stated:
- The nuclear industry has always made unfulfilled promises; history reveals a damning testament to its failure. Pursuing a new programme of nuclear reactors would deny us the opportunity to make the necessary investment in renewable technologies and energy efficiency to meet future energy needs in a viable and sustainable way.[1][3]
The report concludes that nuclear power has often been linked to high subsidies, complex technology and safety concerns, making it a 'dangerous distraction' to finding better ways of tackling global warming.[1][3]
