Status: 14.12.2021 9:11 a.m.
Is nuclear power good as “green” energy? Berlin and Paris see it differently, the EU Commission will probably take France’s side in its rule book for investors. Not only climate politicians find this questionable.
Europe’s sustainable restructuring, the “Green Deal”, costs hundreds of billions of euros. In order to steer public and private capital on green paths, the EU Commission gives investors recommendations as to which financial instruments they consider to protect the environment and resources – the so-called taxonomy. But renewable energy sources alone are not enough, said President Ursula von der Leyen after the recent EU summit: “We also need a reliable source – nuclear energy – and, during the transition, of course, natural gas. That is why we are setting our taxonomy, as announced in April -Proposal. “
Nuclear power as a sustainable technology – the EU Commission is referring to the reports of its scientific service. According to this, nuclear energy causes practically no greenhouse gases and does not cause any significant damage compared to other energy sources.
German doubts about “green” nuclear power
The German Federal Office for the Safety of Nuclear Waste Management sees it very differently. Department head Jochen Ahlswede accuses the commission’s experts of systematically underestimating the risks of nuclear energy: “Firstly, disposal is unsolved worldwide. Secondly, there is a residual risk of accidents or terrorist attacks during operation, and thirdly, uranium is required for fuel in nuclear power plants, which is often questionable Conditions outside the European Union – and this also generates radioactive waste. ”
That is why it is no longer economically viable to invest money in nuclear energy, says Sebastian Rausch from the Leibniz Center for European Economic Research in Mannheim: “Nuclear power has high construction and capital costs, which, with uncertain and low income in liberalized electricity markets, are likely to continue in the future will not lead to a profitable business model. Even an extension of the reactor life to, for example, 60 years does not improve this assessment significantly. “
Money in nuclear power – no thanks!
Investors are therefore carefully considering whether they should still invest money in this technology – even if the EU Commission should give it the green EU seal, says the economic expert of the EPP group in the EU Parliament, Markus Ferber. He doesn’t believe that international investors suddenly discovered “their love for nuclear energy” and could then sell it to their shareholders as a green investment: “I think that’s presumptuous.”
The climate expert of the European Greens, Michael Bloss, sees the entire EU taxonomy devalued if Brussels actually recommends that the financial markets invest in nuclear facilities: “The idea that we are now giving an orientation on the financial market: What is really sustainable? that doesn’t exist anymore. With that, the whole process, which has been running since 2018, has actually failed. “
France invests in nuclear power
The French government still gives nuclear power a great future. President Emmanuel Macron even wants to invest a billion euros in their expansion and promote the development of new small reactors (SMR). His reasoning: nuclear power makes the EU independent of fossil fuel suppliers and is climate-friendly.
France gets 70 percent of its electricity from the use of nuclear power. The government in Paris is correspondingly keen to facilitate private investments in nuclear energy and to ensure that nuclear power remains state-subsidized.
A first endurance test for the newly evoked Franco-German partnership? Chancellor Olaf Scholz apparently does not want to let it come that far. He emphasizes calmly: “Other countries are pursuing different goals and I think we are not yet together. But everyone is discussing how we can get together. Let’s see.”
The EU Commission stands between the two largest and most important member states on the delicate nuclear issue. A possible compromise: Brussels classifies nuclear power as sustainable only temporarily and with a clear end date. The commission intends to present its rule book by the end of the year.