World Nuclear Industry Report, Dec 2023

The World Nuclear Industry Report for December 2023 reveals a significant decline in nuclear production, with a global drop of 4 percent. Outside of China, nuclear power generation dropped by 5 percent to a level last seen in the mid-1990s. The report states that nuclear energy's share of global commercial gross electricity generation in 2022 dropped to 9.2 percent, the largest drop since 2012 and the lowest in four decades. The report also highlights that as of mid-2023, there were 407 reactors with 365 GW operating worldwide, which is four less than the previous year and 31 below the peak in 2002. Additionally, seven units were connected to the grid, while five were closed in 2022. In the first half of 2023, four new reactors started up, and five were closed. Major developments in various countries are also mentioned in the report. Belgium closed one reactor, while France experienced a significant drop in nuclear generation. Germany closed its last three operating reactors, South Korean utility KEPCO reported record losses, and the United Kingdom's cost estimate for two reactors at Hinkley Point C reached a staggering $144 billion. Furthermore, the report highlights Russia's dominance in the international nuclear market, with the most reactors under construction, including those in other countries. However, at least 24 ongoing construction projects are delayed, and the majority of projects are carried out by nuclear weapon states or their controlled companies. The report also addresses the Fukushima nuclear disaster, stating that spent fuel removal and debris removal have been delayed, and the controversial discharging of contaminated water to the ocean has begun. In terms of economics and finance, the report mentions that nuclear power is facing increasing pressure from alternative options for electricity generation. It also highlights significant subsidies, public financing, and the high levelized cost of energy for nuclear power compared to other renewable sources. The report emphasizes the underestimated costs of decommissioning reactors and the liabilities for accidents, with the 2011 Fukushima accidents estimated to cost over $223 billion.