Fortum’s Post

“Let’s be very clear: renewable energy can be firmed by a combination of batteries, pumped hydro, a small amount of peaking gas, and other means. Doing this is two to three times cheaper than nuclear power, even accounting for transmission costs.” – Rod Sims, Chair of The Superpower Institute https://lnkd.in/ghBUs5ne As the conversation around nuclear energy intensifies, it’s crucial that the debate is grounded in the latest economic realities. The Superpower Institute Chair, Rod Sims, highlights that while nuclear power costs remain stable or are rising, the cost of renewable energy has dramatically declined, giving Australia an immense economic advantage due to our abundant solar and wind resources.

Day-ahead prices reached a record low of -€5.76 per megawatt-hour in an Epex Spot auction, prompting several French nuclear plants to go offline ahead of the weekend, As a result, Electricite de France, a state-owned utility company, has been compelled to deactivate several nuclear reactors. Already, three plants have been halted, with plans to take three more offline. This occurrence is not uncommon and often happens on weekends in France, as well as being observed across Europe, including in Spain and the Scandinavian region. #renewableenergy #sustainableenergy #energymarket #windenergy #climatechangesolution #businessstrategy

Yep! that's correct but when the sun is not shining, and the wind isn't blowing the old coal and baseload plants are making the hay they were losing when the intermittent energy is hogging the grid. Add long term storage and I guarantee that the energy is much dearer than coal. And if you take into account our old renewable energy friends need replacing the equivalent of 3 times during the life of Coal and maybe 4 for Nuclear the picture becomes clear. Our Government's of all persuasions have seriously let us down here and we need to change direction before we get to a tipping point (if we haven't already) that our power systems are fast becoming not fit for purpose.

⚛️Repowering Coal to Nuclear Added to the National Electricity Plan 2040-2060 The National Electricity Plan 2040-2060 now includes repowering (retrofitting) coal-fired power plants into nuclear by as a potential strategy to transition towards cleaner energy. While the government has not yet specified how many coal plants could be retrofitted, further studies are required to determine the feasibility and scope. Based on my initial assessments, I would estimate that approximately 30 GW of coal-fired power plants could be viable candidates for retrofitting to nuclear. Currently, a collaborative study led by ITB and the Repower Initiative is underway to evaluate the feasibility of converting a 600 MW coal plant in Java into a nuclear-powered facility. I personally think that though the study is not yet completed but we make a good argument while doing the study to the government that they put it on. The findings of this study are expected to be submitted to the government by February 2025 as a policy brief, marking a significant step toward implementing this innovative solution. RUKN 2025-2060 (page 27) b. Options for Converting Coal-Fired Power Plant Fuel "Technologically, the fuel used in coal-fired power plants can be replaced with fuels that utilize new and renewable energy sources, such as biomass, ammonia (fuel switching), or **nuclear** through retrofitting coal-fired power plants. By choosing retrofitting, the technical and economic lifespan of coal-fired power plants can be extended, allowing the share of new and renewable energy to continue to increase by utilizing existing assets, which can reduce the social impact of shutting down coal-fired power plants."

South Korea is set to establish its first #nuclear hydrogen production plant by 2027, following an agreement signed by eight major corporations, including Hyundai Engineering & Construction Co.,Ltd., Samsung C&T Corporation, Doosan, and Korea Hydro & Nuclear Power (KHNP). In a previous article we looked at the levelized cost of electricity (LCOE) from nuclear in the East-Asian country. In 2023, the Korea Power Exchange reported a cost of just $39.65 per MWh for nuclear, as compared to $101.65 per MWh for coal, $154.27 per MWh for LNG – and a hefty $121.11 for renewables (mostly rooftop solar, so high installation costs as well as quite poor local solar conditions). By 2027 Rethink expects the average Capex of an #electrolyzer to sit just below $1,000/kW. When combined with just under $40/kWh electricity Opex, the price of pink hydrogen will round up to $2.7/kg – other assumptions include 42,000 hours of operation, 50 kWh/kg electrolyzer efficiency, price of water of $0.185 per kg of #hydrogen produced and a maintenance cost of merely $0.08 per kg output. https://lnkd.in/ekVatPUQ

Even on the most optimistic outlook, nuclear power won’t be ready in time for the exit of Australia’s coal-fired power stations. And the imperative to replace that retiring coal generation is with us now. “In fact, the old notion of “baseload” generation which runs constantly, then supplemented with “peaking generation” for the daily peaks in demand, simply does not reflect the way our power system works today, or into the future. “When the sun is shining and wind is blowing, renewable generation produces energy at zero marginal cost, and “baseload” energy simply can’t compete. It is either pushed out of the market entirely, or has to sell its energy at a loss if it can’t flex up and down to absorb the peaks and troughs of variable renewable supply.” Head of AEMO Daniel Westerman

Gas is Great. Nuclear is better. Nah - just gagging. Excellent and easy to read article from RenewEconomy that puts any myths of this nature to the sword. But why let facts stand in the way of political cynicism?? https://lnkd.in/gENXXR4X

Nuclear Energy, a Potential Attractive Opportunity for Vietnam's Energy Future. VSBF 2024 - The journey towards Net-Zero transition has become an inevitable and irreversible trend to meet market demands. This journey will reshape the economy and open up new markets for certain industries. At the Forum, experts discussed "Nuclear Energy" – An attractive opportunity for Vietnam's energy future. Success in developing the power sector has played a very important part in making Vietnam an attractive FDI destination and achieving impressive economic growth, manufacturing exports, and seizing the digital revolution. However, the power sector faces significant challenges in the coming years. This situation indicates an urgent need to invest in increasing power production in the near future. Yet, Vietnam's two fundamental strengths, coal power and hydropower, are no longer available. Meanwhile, the government's commitment to net-zero emissions by 2050 is respected. In this context, nuclear power is a distinctive strategic choice for two reasons: • First, new-generation nuclear technology, small-scale (250-300 MW), is absolutely safe and can be deployed relatively quickly (taking about 3-5 years). • Second, nuclear power with stable 24/7 electricity generation capacity helps the national power system increase its ability to integrate wind and solar power; thereby promoting the development of renewable energy. To meet energy security requirements and bring the power sector's net emissions to zero, experts believe that nuclear power will be a priority choice for Vietnam in the coming time. #VSBF2024 #EY #Buildingabetterworkingworld #GreenEnergy

A recent report by CSIRO and the Australian Energy Market Operator highlights that renewable energy, especially solar and battery storage, remains the most cost-effective option for new electricity generation in Australia. Nuclear energy, on the other hand, is significantly more expensive and would require substantial investment and a long lead time. The draft GenCost 2024-25 Report emphasizes that renewables have been the lowest-cost new-build electricity-generating technology for seven years. As Australia faces global energy challenges, renewables offer a more immediate and affordable solution compared to nuclear energy.