Plugged In: the energy news podcast Nuclear’s latest comeback: is it permanent?
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Mar 20, 2025 In this discussion, William D. Magwood, IV, Director General of the Nuclear Energy Agency, sheds light on the nuclear energy revival amid rising decarbonisation goals. He delves into the complexities of financing new reactors and the roles of public and private sectors in absorbing risks. The conversation also touches on the promising potential of small modular reactors (SMRs) for energy security, alongside challenges in uranium supply chains. Magwood highlights the evolving safety and regulatory landscapes that could shape the future of nuclear energy.
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Policy Shift After COP26
- COP26 shifted focus from targets to concrete plans, forcing countries to reassess how to meet emissions goals.
- Energy security concerns after the Ukraine war combined with climate pressures to boost global interest in nuclear.
Resemblance To 1970s Drivers
- Current nuclear interest resembles the 1970s reaction to supply shocks rather than the 2005 technology push.
- Countries now prioritize reliable, affordable power and energy security, making nuclear more attractive.
Why Countries Like SMRs
- Many countries prefer SMRs because they fit smaller grids, lower capital needs, and staged deployment.
- Some SMR designs are ready now while others will mature later in the decade.