Nuclear

Energy and environment ministers from the Group of Seven (G7) economically advanced nations, including the United States, agreed to ramp up electricity generated by renewable energy sources to accelerate the transition away from fossil fuels. Yet the ministers, recognizing global demand shifts amid Russia’s war in Ukraine and the particular energy needs of meeting host…

Global natural gas demand remained weak as floating inventories built at sea and prices in Europe and Asia continued falling as the week got underway.  The May Title Transfer Facility (TTF) shed a penny on Monday, while spot LNG prices in Asia dropped below $12/MMBtu to their lowest point in nearly two years.  In Europe,…

The Department of Energy (DOE) has conditionally awarded $1.1 billion in federal funding to Pacific Gas and Electric Co. (PG&E) to support extending operations at California’s last remaining nuclear power plant. PG&E’s 2.2 GW Diablo Canyon Power Plant (DCPP) in San Luis Obispo County provides about 17% of California’s carbon-free electricity and 8.6% of the…

More than a dozen non-governmental (NGO) and environmental organizations are challenging the European Union’s (EU) decision to label natural gas and nuclear as sustainable investments under a law adopted in July. The EU taxonomy under the Climate Delegated Act (CDA)  is a classification system established to clarify which investments are considered sustainable. The groups opposing…

Despite South Korea’s plan to boost the use of nuclear energy in the country’s power generation mix by 2030, LNG will continue to play an important role in the government’s new energy strategy.  President Yoon Suk-yeol was elected in March and is a strong supporter of nuclear energy. He plans to reduce the country’s dependence…

California’s final legislative session finished late Wednesday, passing to Gov. Gavin Newsom a bill to give the state’s last nuclear plant, Diablo Canyon Power Plant (DCPP), a new lease on life by extending the retirement date by several years.  Newsom said late Wednesday the DCPP’s continued operations were “critical” in “making sure we have energy…

Japan expects to reduce its reliance on Russian liquefied natural gas (LNG) imports, but it’s unlikely to happen quickly, officials said. The Group of Seven (G-7), an inter-governmental political forum, has been considering ways to punish Russia following its invasion of Ukraine. The G-7 consists of Canada, France, Germany, Italy, Japan, the UK and the…

France plans to build at least six nuclear reactors, and possibly another eight, under the latest national low carbon strategy unveiled by President Emmanuel Macron earlier this month. The strategy is designed to eventually replace fossil fuels like natural gas with nuclear and renewables to achieve the country’s 2050 net zero target.  Six European Pressurized…

New natural gas and nuclear energy projects could be classified as “green” investments to help the European Union (EU) reach its net-zero emissions target by 2050, according to a draft proposal by the European Commission (EC) published this month. Regulations proposed under the EC’s taxonomy draft, part of a set of policy initiatives called the…