Nuclear power: Expensive, hazardous and inequitable
By all accounts, nuclear power has had a bad year. In March, Westinghouse, the largest historic builder of nuclear power plants in the world, declared bankruptcy, creating a major financial crisis for its parent company, Toshiba. The French nuclear supplier, Areva, went bankrupt a few months earlier and is now in the midst of a restructuring that will cost French taxpayers about €10 billion. Its reactor business is being taken over by a clutch of companies, including the public sector Électricité de France, which is itself in poor financial health.
In May, the U.S. Energy Information Administration announced that it expects the share of nuclear electricity in the U.S. to decline from about 20% in 2016 to 11% by 2050. The newly elected Presidents of Korea and France have both promised to cut the share of nuclear energy in their countries. And the Swiss just voted to phase out nuclear power.