Global Energy News Roundup: August 10

The Forum on Energy weekly news roundup brings together a mix of global energy stories from around the web. It is published every Thursday and is available on Twitter via @forumonenergy

Long-Term Nuclear Power Potential Remains High, According to the IAEA

The International Atomic Energy Agency (IAEA) released a new report projecting that the long-term potential of nuclear power will remain high. The Agency believes that if recognition of nuclear energy as a low carbon fuel source continues to grow, and technology in the sector also continues to advance, then the demand for nuclear power will increase. The report also predicted that global expansion of nuclear power is likely to slow down in the coming years, but that the concern for climate change will drive increased investment into the sector. The specific predictions are “an increase from 2016 levels by 42% in 2030, by 83% in 2040 and by 123% in 2050. The low case projects a decline in capacity by 12% in 2030 and 15% in 2040 before rebounding to present levels by 2050.”

Source: The International Atomic Energy Agency

Another Step Towards the Reopening of Yucca Mountain

On August 8, the Nuclear Regulatory Commission voted to begin the “information gathering” phase of the process that is required for approving a license for the nuclear storage site at Yucca Mountain in Nevada. The Nuclear Regulatory Commission also approved the use of $110,000 of funding for activities that will lead to the construction of the Yucca facility. “These next steps involve information-gathering activities related to the suspended adjudication on the application,” the regulatory agency said in a statement. “These activities will enable efficient, informed decisions in support of executing any further appropriations of funds for the High-Level Waste Program.” Next steps now include a meeting of the licensing-support advisory committee that will allow the Commission to gather input from advisory panel members and also the public.

Source: The Washington Examiner

U.S. Energy Secretary Perry Has A New Deputy

Last week the U.S. Senate confirmed Dan Brouillette to be deputy secretary at the Department of Energy. Mr. Brouillette is a former Energy Department official who served under the George W. Bush administration. From 2001 to 2003, he worked as the Energy Department’s assistant secretary for congressional and intergovernmental affairs and has also served as chief of staff for the House Energy and Commerce Committee. In the private sector, Brouillette was vice president at Ford Motor Co., and headed its policy and government affairs team from 2004 to 2006. Notably, Brouillette is just the second U.S. Department of Energy official to be confirmed by the senate this year.

Source: The Hill

Small Modular Reactors Receive Positive Press

In an article published by CNBC, NuScale Power’s small modular reactors are described as “technology that could help to alter the way we think about nuclear power.” The article highlights the advantages of small modular reactors, including the smaller reactor size and lower capital investment. Jose N Reyes, co-founder and CTO of NuScale described how small modular reactors can lead to cost reductions and also far safer nuclear plants.

Source: CNBC