Against the backdrop of a global energy landscape that is evolving at an unprecedented rate, and driven by the urgent need to transition to secure and sustainable sources of power, the role of nuclear power in the energy mix and on the pathway to net zero has seen a resurgence.
This trend is evident in the volume of policy, regulatory and financial initiatives in nations with a traditionally favourable stance toward nuclear energy, such as the US and UK, with the former’s Inflation Reduction Act (IRA) creating new incentives for nuclear generation through production and investment tax credits, and the latter’s establishment of Great British Nuclear (GBN). Similarly, even conventionally cautious nations such as Japan and South Korea are re-evaluating their previous policies, and some even reversing their plans to phase out nuclear energy.
