alt Hacker NewsYou should take note that you’re uninformed or intentionally spreading false information and misrepresenting reality.
Fact of the matter is it takes a large upfront investment to build a nuclear reactor and it has a longer time horizon before it becomes profitable in comparison to something like a gas or coal power plant.
It comes down to whether or not the country, government, citizens and country have the ability to think beyond a 4 year horizon or not.
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What about insurance though?
There's no false information there. Nuclear is complex and so expensive that despite 70 years of tinkering and trying it hasn't managed to make a noticeable dent in fossil fuel. It's also slow, with building times up to more than a decade.
France tried it. Now their nuclear operator is €50 billion in the negatives, makes about €3 billion per year in profits and has to invest about €150 billion in new reactors, upgrades, refits and infrastructure.
Nuclear is just not worth the hassle.
Everybody knows about the upfront cost, but the size and long tail of costs after the plant has been built, or when unforeseen events occur, is largely hidden from all financial statements. So much so that people actually believe that nuclear power is cheap, when it's not.
But the truth surfaces of course - you can look at the financials of EDF in France (nationalized in 2022 with 60+ bn euros in debt), KEPCO in Korea (145 bn in debt), or incidents like Asse II in Germany, Sellafield in the UK, Rancho Seco in the US.
Billions of taxpayer money covering costs caused by the nuclear industry, and not appearing anywhere in any statement of estimates of nuclear power costs. Large, double-digit plant operators basically or literally bankrupt.
Different CEOs of the swedish electric company Vattenfall have stated repeatedly that nuclear power is not viable unless the state pays. Here is a recent such statement: https://www.reuters.com/sustainability/climate-energy/swedis...
This to me is the bottom line. If nuclear power was cheap and profitable, people would be in line to build them as soon as they get approval! Instead, they want money.
The truth is that the industry sees no way to profitability here, except when they get access to current and future taxpayer money. This has always been the case for nuclear power and still is.