EU Chief Calls Nuclear Phase-Out a "Strategic Mistake", Launches €2 Billion Revitalization Plan for SMRs and Innovative Nuclear Technologies
Ursula von der Leyen, President of the European Commission, stated in a speech at the Nuclear Energy Summit in Paris that the EU’s significant reduction in the share of nuclear power over the past decades was "a strategic mistake". She announced new financial support for innovative nuclear technologies and the EU’s Small Modular Reactor (SMR) strategy, which aims to bring the next generation of nuclear reactors into operation in Europe in the early 2030s.
Von der Leyen revealed that the EU will provide €200 million (approximately $232 million) in financial guarantees through the Emissions Trading System to support the development of innovative nuclear technologies. Meanwhile, the EU officially launched the Small Modular Reactor Strategy, which is built on three core pillars:First, establishing simplified regulatory rules. A "regulatory sandbox" will be created for enterprises to test new technologies, and cross-border rules will be unified in cooperation with member states to ensure that technologies can be "easily deployed across Europe as soon as they are safe".
Second, mobilizing investment. The €200 million guarantee will be used to reduce risks, send a clear signal to the market, and attract private capital into the low-carbon nuclear energy sector.
Despite divergent attitudes towards nuclear energy within the EU — only 13 out of 27 member states operate nuclear power plants, and countries such as Germany and Austria were once staunch advocates of nuclear phase-out — the trend is now shifting. A growing number of member states are planning to build new nuclear power capacity, and some are even re-examining their previous phase-out policies. According to a report commissioned by Nucleareurope, the EU’s nuclear power industry has an installed capacity of approximately 106 gigawatts, contributing €251.2 billion to the EU economy annually, generating around €47.6 billion in public revenue, and sustaining more than 880,000 jobs.
Von der Leyen emphasized that as a reliable, affordable low-carbon baseload power source, nuclear energy should work alongside renewable energy as a pillar for safeguarding the EU’s energy independence, supply security and economic competitiveness. "Nuclear energy is reliable and can provide electricity 24/7, 365 days a year. Europe has always been a pioneer in nuclear technology, and we believe the next generation of nuclear reactors can become a high-tech, high-value export for Europe," she said.
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