Global Energy News Roundup: January 18

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 @forumonenerg

The United Kingdom and Japan Work Together on Nuclear Plant Construction

The governments of the U.K. and Japan will work together to create options for joint-financing of a nuclear power station in Wales. The effort signifies a U.K. government that is more open to commit funding from its public in order to build new reactors. The plant, named Wylfa, is being developed by a subsidiary of Hitachi, named Horizon. According to the article “Japan’s Asahi Shimbun newspaper reported last week that the UK and Japanese governments were willing to work with financial institutions to extend as much as $20bn in loans to finance Wylfa, and also to acquire a stake in Horizon.”

Source: The Financial Times

Study Finds Economic Benefit of Nuclear Power Plants

A study on the economics of nuclear energy concluded that nuclear power plants provided large economic benefits to regions where they are located. The study focused on the Columbia Generating Station located in eastern Washington state and operated by Energy Northwest. It found that the nuclear power plant “generates over 9 billion kWhs of emission free electricity every year, enough to power the City of Seattle…All while generating more than $690 million in economic output – over $475 million for Washington State and over $215 million for the rest of the United States.” The study also found that up to 4,000 jobs were supported by the power station annually and contributes $13.4 million in state and local taxes.

Source: Forbes

U.S. Department of Energy Promotes Nuclear Power

Earlier this week, the U.S. Department of Energy listed Five Fast Facts for what to know about nuclear energy. These facts are:

1- Nuclear Power Plants Produced 805 Billion Kilowatt Hours of Electricity in 2016

2- Nuclear Power Provides About 60% of America’s Clean Energy

3- Nuclear Energy is the Most Reliable Energy Source in America
4- Nuclear Helps Power 30 U.S. States
5- Nuclear Fuel is Extremely Dense, keeping the level of used nuclear fuel down. As an example, the DOE stated that “All of the used nuclear fuel produced by the U.S. nuclear energy industry over the last 60 years could fit on a football field at a depth of less than 10 yards.”