Weekly Reports | Oct 12 2021
As the weekly spot uranium price falls for the third consecutive week, the importance of nuclear power was reinforced by governments in Japan and the UK.
-UK brings forward decarbonisation target, while Japan recommits
-ASX-listed Alligator Energy reports increasing long-term supply interest from utilities
-Uranium spot price falls over -9% for the week
By Mark Woodruff
A new plan by the UK government brings forward the commitment to a fully decarbonised power system by 15 years to 2035. A target of 2050 was originally set out in the December 2020 Energy White Paper.
The White Paper identified nuclear power would help achieve a four-fold increase in clean electricity generation, needed to achieve the country’s net-zero target by 2050.
The new plan focuses upon building a secure, home-grown energy sector (including nuclear energy) that reduces reliance on fossil fuels and exposure to volatile global wholesale energy prices.
According to Tom Greatrex, Chief Executive of the Nuclear Industry Association, “the target requires urgent investment in a new generation of nuclear stations for clean and reliable power.” He further suggests “the government needs to legislate for a new financing model and give its clear backing to large and small nuclear projects."