Energy security: why Europe is reviving nuclear power

BRUSSELS - In an increasingly uncertain international context, the European Commission yesterday presented a strategy that should contribute to the European Union's energy independence. In particular, Brussels wants to promote innovation in small modular reactors. Meanwhile, the EU executive is considering options to respond to price pressures caused by the war against Iran. It is looking at new forms of flexibility in state aid.

The decision to be "completely dependent on expensive and volatile imports" of fossil fuels has put Europe at a disadvantage compared to other regions, European Commission President Ursula von der Leyen said in Paris. "This reduction in the share of nuclear power was a choice, but I believe it was a strategic mistake for Europe to turn its back on a reliable and affordable source of low-emission energy."

The stance is significant. It was Germany that led the way in abandoning nuclear power. In the wake of the Fukushima accident, the Merkel government decided to gradually shut down nuclear power plants in the country. At the time, Mrs von der Leyen was Minister of Social Affairs. In an interview with Der Tagesspiegel in May 2011, she supported the government's decision, speaking of a 'caesura' and noting that the Japanese accident would have 'consequences for many generations'.

In a communication published yesterday and entirely dedicated to energy independence, the Commission aims to promote nuclear power (currently used by 12 member states) and create new standards in a field that remains a national competence. Brussels is making EUR 200 million available to support the innovation of small modular reactors between now and 2028. Furthermore, it intends to urge banks to invest more by supporting the securitisation of existing loans in the energy sector.

In the shorter term, the EU is called upon to consider measures to calm energy prices, which have risen due to the war in Iran. The idea of suspending the application of the Stability Pact, as in 2022 at the time of the Russian invasion of Ukraine, does not appeal, as was evident from the words of Economy Commissioner Valdis Dombrovskis yesterday. Instead, Brussels is leaning towards adopting new flexibility in state aid, as in 2020 in response to the pandemic. 'We are thinking of temporary and targeted measures,' Energy Commissioner Dan Jørgensen also clarified yesterday.