With fossil fuel prices hitting new highs and increasing concerns about global warming and security of oil & gas supplies, nuclear power is on the rise. Even staunch green advocates are turning to nuclear power as a viable means to reduce greenhouse gases. Asian countries in particular are driving this trend, although Western Europe and North America are showing new interest. China, Russia, India, Japan and South Korea have all committed to expanding their nuclear power resources. Even in the US, where no nuclear plant had been seriously considered since the Three Mile Island accident in 1979, Congress has enacted incentives for new nuclear plants and several power companies have started the proposal process to build new nuclear power plants.
The price of uranium, nuclear power's feedstock, has tripled since 2003 and uranium producers are rushing to reactivate their uranium mines. While 70% of the world's oil reserves and 40% of the world's natural gas reserves lie in the volatile Middle East, uranium reserves are located in stable countries, such as Australia and Canada. Nuclear power is one avenue for industrialised countries to reduce their dependence on oil and gas imported from unstable areas. Although the nuclear power industry still has issues to address - safety and security, waste storage and disposal, NIMBY syndrome, for example - there is wide agreement that nuclear power must play a vital role in the power industry's future fuel mix.
How PricewaterhouseCoopers (PwC) can help you
Many of PwC's clients are major nuclear power operators, plant construction contractors, nuclear services companies, uranium producers or nuclear waste management bodies and some are already in the forefront of the nuclear revival. We have a global network of practitioners who understand the nuclear lifecycle: planning, construction economics, market analysis, operation, waste management, decommissioning and disposal. We provide services to stakeholders in the nuclear industry, including governments, vendors, utilities and back-end players. We are experienced in developing public policy solutions and have a strong understanding of investors and lenders' attitude toward nuclear projects, regulatory frameworks, financial hedges and instruments to support nuclear investments.
We have provided client services in the following areas:- Project investment appraisal
- Business strategy and planning
- Market assessment and analysis
- Trading business (market positions)
- Privatisation
- Transaction advice
- R&D planning and prioritisation
- Financing post closure costs
- ISO certification (environment and sustainability)
