On Tuesday, a bill was approved by lawmakers to expedite the building of new nuclear reactors in France. Garnering 399 votes in favour and 100 against, the bill received support from a majority of MPs spanning various parties, but received some opposition from the radical left.
The law— once enacted, will streamline administrative procedures, which will ultimately accelerate nuclear reactor construction timeframes by at least two years. Also, the previous cap on nuclear energy constituting 50% of France’s electric mix was been lifted, and enhanced penalties will be in place for unauthorized entry into nuclear plants, with a maximum of two years imprisonment.
The legislation is in line with the government’s goal of bolstering renewable and nuclear energy to further the energy transition. However, environmental groups criticized it for overlooking ecological and climatic needs, with Greenpeace voicing concerns about reactor construction pace, safety, and anticipated water use conflicts.
The move also coincides with Europe’s “nuclear alliance,” which currently consists of 16 member nations committing to create a European nuclear industry that will eventually produce 150 GW by 2050.
Information for this briefing was found via Euractiv France. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.