Media Coverage
Source: Bloomberg | Quint
Media Coverage
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
02.01.22
In 2011, then German-Chancellor Angela Merkel opted to remove all nuclear reactors after the tragic Fukushima disaster in Japan. In “Europe Is Losing Nuclear Power Just When It Really Needs Energy,” Bloomberg | Quint examine how, a decade later, the final shutting down of those reactors comes at what can be considered in many ways the worst possible time.
With “Europe mired in one of the worst energy crises in its history ... Wholesale power prices are more than four times what they were at the start of the coronavirus pandemic. Governments are having to take emergency action to support domestic and industrial consumers faced with crippling bills, which could rise higher if the tension over Ukraine escalates. The crunch has not only exposed Europe’s supply vulnerabilities, but also the entrenched cultural and political divisions over the nuclear industry and a failure to forge a collective vision.”
“It comes down to politics,” said Vince Zabielski, a former nuclear engineer and now an energy partner at Pillsbury in London. “Everything political ebbs and flows, but when the lights start going off people have a completely different perspective.”
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