High capital costs and maintaining public confidence are seen as the greatest challenges facing the European nuclear power industry, according to a recent survey conducted by Schott OFT Market Research.

The survey included more than 100 utilities, builders, consultancies, and regulators in Europe and precedes the annual Schott OFT Alternatives Conference.

“While most of these challenges are traditional to the industry and likely always will be, they’ll likely be heightened as new units, particularly those using new designs, are built,” said Schott OFT (www.schott-oft.com) Chief Editor Carol Lawers. “Currently these challenges are being viewed in a particular context, one of: increased concerns about climate change, the pursuit of energy diversity, cost/benefit of competing generating sources, and attention to safety and its costs in the wake of the 2011 Fukushima nuclear accident.”

A newer aspect to these challenges, Carol explained, is that reactor vendors and other suppliers competing for new export opportunities are exploring new ways of packaging deals as nuclear power programs are introduced in other countries.

Industry supporters and detractors are expected to watch closely the first new nuclear projects in Europe to see how they fare as they encounter those political, financial, and regulatory-safety issues.

When asked about the future of nuclear power capacity expansion in Europe, 80% of respondents said that nuclear power would succeed in gaining a larger share of the Continent’s overall power generation mix.

“The sector is at a critical juncture, with opportunities for growth, but with key challenges and uncertainties that must be overcome in terms of regulatory structure, human resources, and financing arrangements in the next few years,” said one survey respondent.

These and other topics will be discussed in depth at the two-day Schott OFT Alternatives Conference.

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