New dawn for nuclear power is distant

Amid signs of a revival in orders for nuclear power reactors, last month’s sale of Westinghouse’s former nuclear division to Toshiba might stand out as a landmark – but not necessarily because the industry seems ready to take off.

There is much talk of a rebirth of the nuclear construction industry, but analysts say that most of it is just that. In the United States, the secretary of energy recently referred to 16 new reactors on the drawing boards, but not one has been ordered, and industry experts do not expect to see any orders until late 2007, at the earliest.

Predicting sale prices for energy is nearly impossible. “Operators would need to be convinced there is a sound and robust business case” for building a plant before they start devoting capital to it, Kernan said. He said there is no evidence yet to suggest that.

IHT