Germany's nuclear lobby says up to six reactors could restart
FRANKFURT, March 5 (Reuters) - Germany's nuclear engineering lobby on Wednesday said up to half a dozen nuclear power stations could in theory be reopened despite closing in 2023 as a result of Berlin's decision to exit nuclear power, as the next government looks to secure cheaper energy.
Germany's conservatives, winners of the February election, said resuming nuclear power generation was an option to tackle high power prices and rising dependency on electricity imports, most notably from nuclear-reliant France.
The operators of the nuclear plants said, however, their closure was final.
Members of the nuclear technology lobby group include subsidiaries of Westinghouse and Framatome as well as part-German owned nuclear engineering services company Nukem (RWEG.DE), opens new tab (EONGn.DE), opens new tab.
"The recommissioning of up to six nuclear power plants is technically possible...The quicker the decision is made, the less money it costs and the sooner the baseload-securing, climate-friendly plants can rejoin the grid," the KernD group said in a statement.
Investment of between 1 and 3 billion euros ($1.07-3.21 billion) per station could pay for recommissioning, it added.
The statement came a day after the German parties hoping to form the country's next government agreed to create a 500 billion euro infrastructure fund and overhaul borrowing rules in a tectonic spending shift to revamp the military and revive growth in Europe's largest economy.
KernD said the operational costs of existing nuclear assets to be reopened would be competitive and the plants worked independently of the weather. Renewable power output was reduced for weeks last year due to adverse weather.
Germany also aims to phase out coal burning in coming years.
"Artificial intelligence, data centers and high tech companies need masses of power, and Germany could deliver," KernD said.
Operators of Germany's closed reactors have ruled out reopening them.
Leonhard Birnbaum, chief executive of E.ON (EONGn.DE), opens new tab, last week said it was unfeasible, stressing decommissioning was in full swing.
Sector peers such as RWE (RWEG.DE), opens new tab and EnBW (EBKG.DE), opens new tab have also cited high costs, lacking availability of staff and fuels and regulatory gaps as hindrances.
($1 = 0.9348 euros)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Record
an hour ago
- Daily Record
Ryanair, Jet2, TUI and easyJet passengers facing '4 hour rule' change
The carriers will no longer have to pay out if their flight is delayed for three hours under new plans. Passengers flying with carriers like Ryanair, TUI, Jet2 and easyJet would no longer be able to claim money if their flights are delayed by three hours. The European Union has put forward proposals that the delay now has to be four hours for compensation to be paid. Until now, if a short-haul flight was delayed by three hours or more and it was the airline's fault, customers would be entitled to compensation. But EU countries have now agreed to increase the amount of time passengers will have to wait before they can claim compensation for a delayed flight after 12 years of negotiations. It also means that those taking long-haul flights would need to be delayed for six hours before they are entitled to any compensation, under the plans. The EU countries agreed to increase the amount of compensation for those delayed on short-haul flights from €250 (£211) to €300, but plan to reduce compensation for long-haul flights from €600 to €500. The decision was made by EU transport ministers last week, reports Birmingham Live. But the proposals have still to be negotiated with the European Parliament before becoming law. Airlines for Europe (A4E) represents Europe's major airlines, including Lufthansa, EasyJet and Ryanair. It said that 70 per cent of flights that end up being cancelled could be saved at a five-hour threshold 'benefiting up to 10 million passengers per year'. In a statement they said: 'Europe has been waiting for transparent and workable passenger rights for 12 years and member states have fallen at the final hurdle to deliver. Member states have diluted the European Commission's original proposal and introduced even more complexity." German lawmakers from the European People's Party said that 'decreasing the rights to compensation for air passengers would be a step in the wrong direction." They went on: "Reimbursement after a three-hour delay has been standard for many years and should remain so." The change would be a significant blow to holidaymakers who are held up at airports across the continent. The UK does have its own rules on air passenger rights, based on EU regulation. They are that airlines must compensate passengers if their flight arrives at its destination more than three hours late and extraordinary circumstances did not cause the delay. There are fears that the plans could affect UK travellers though as it will apply to those flying with an EU carrier. It comes as 16 consumer protection associations from 12 member states are accusing seven low-cost airlines of charging passengers undue fees for their hand luggage. "The European Court of Justice has made it very clear that hand baggage is an integral part of the basic ticket price. Normally, there is no surcharge on the price as long as the hand luggage is of a reasonable size," said Steven Berger, a lawyer with the European Consumers' Organisation (BEUC). "All we're seeing is a proliferation of airlines charging for this baggage (...) we're calling for very clear rules. Passengers must be able to take one piece of luggage, a small suitcase or a rucksack," he added.
Daily Record
an hour ago
- Daily Record
Cheapest UK supermarket for May 2025 could save shoppers £48 on 82 essentials
The latest Which? comparison has found the cheapest supermarket for a basket of 81 essential items. Getting in the weekly groceries has become fairly expensive over the years. Which is exactly why many households often look for ways to save money. For this reason, Which? runs a monthly price comparison across eight of the biggest supermarkets across the UK, with the latest showing how shoppers can save over £48 in total. For the fifth month in a row, the consumer watchdog's analysis has found that Aldi is once again the most affordable supermarket, charging just £135.48 for a basket of 82 branded and non-branded essentials. It means that the budget German discounter has taken the crown for every single month this year, following on from its major win in 2024 where it was found to be the cheapest supermarket for the whole year. By direct comparison, premium chain Waitrose was once again found to be the most expensive option, with the same basket of items coming in at £184.03 - meaning Aldi shoppers are saving 36 percent and £48.55. However, it is worth noting that, while Aldi held onto its coveted title as the cheapest supermarket, its fellow budget German rival Lidl was hot on its heels, with just 31p more for Plus members (£135.79) and 34p more for regular shoppers (£135.82.) Out of the traditional supermarkets, the May 2025 Which? comparison found that Asda was offering the most affordable prices, coming fourth place with its own basket of 82 items costing £149.94. To emphasise Aldi's savings, it was discovered that loyalty schemes from many major supermarkets were still more expensive, as Tesco Clubcard users were being charged £150.26, while regular customers were being charged £152.35. Meanwhile, Sainsbury's was charging £151.82 for the same 81 items for Nectar members and £155.59 for those not signed up to its loyalty scheme. Join the Daily Record WhatsApp community! Get the latest news sent straight to your messages by joining our WhatsApp community today. You'll receive daily updates on breaking news as well as the top headlines across Scotland. No one will be able to see who is signed up and no one can send messages except the Daily Record team. All you have to do is click here if you're on mobile, select 'Join Community' and you're in! If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'exit group'. If you're curious, you can read our Privacy Notice. Out of the traditional supermarkets, Morrisons was still more expensive, even with a More Card. Those signed up to its loyalty scheme were charged £155.76, while those without would be charged £156.71. It is worth mentioning that the Which? analysis also covers a much larger shopping list of 198 items, although Aldi and Lidl are not included because they do not offer the same availability of branded items. Similar to previous months, Asda once again held onto its crown as the most affordable option for the bigger shop, charging shoppers £485.79. Meanwhile, Waitrose was also the most expensive for this shop, with its total coming in at £559.02. Julie Ashfield, Chief Commercial Officer at Aldi UK, said: 'Which? analysis demonstrates Aldi's determination to provide its customers with quality, affordable groceries as an essential need for the long term. 'We are proud to retain this position of cheapest supermarket for an incredible nineteenth month, allowing our shoppers to save their money for other life essentials.' Full list of prices for a smaller shop of 82 items Aldi - £135.48 Lidl with Lidl Plus - £135.79 Lidl - £135.82 Asda - £149.94 Tesco with Clubcard - £150.26 Sainsbury's with Nectar - £151.82 Tesco - £152.35 Sainsbury's - £155.59 Morrisons with More - £155.76 Morrisons - £156.71 Ocado - £168.48 Waitrose - £184.03 Full list of prices for a larger shop of 198 items Asda - £485.79 Tesco with Clubcard - £496.59 Sainsbury's with Nectar - £498.72 Morrisons with More - £512.26 Morrisons - £517.69 Tesco - £531.95 Ocado - £533.62 Sainsbury's - £537.81 Waitrose - £559.02
Finextra
an hour ago
- Finextra
What is the future of money in Europe?
0 This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. The following article is an excerpt from The Future of European Fintech 2025: A Money20/20 Europe Special Edition. In the European payments space, emerging technologies are taking the lead to define what the next big thing will be in banking. Where is the future of payments leading, and how will it benefit the consumer and propel the industry forward? The answer is manifold, as new forms of AI, digital assets, and quantum computing are modernising banking. What does the future of money look like? As decentralised finance (DeFi) has become more prevalent, there has been calls for further supervision and regulation on DeFi activity. According to Reuters, DeFi protocols spiked to $7.3 billion in January 2024, the highest since 2023. Market capitalisation of DeFi rose to $77 billion from $72 billion in December 2023. DeFi is expected to grow at a CAGR of over 46% between 2024 and 2032, and was valued at $14.35 billion in 2023. DeFi refers to financial activity facilitating by smart contracts and blockchain, without a centralised system to mediate asset custody. DeFi has major potential in revolutionising payments using blockchain capabilities, as due to the open nature of the accounts it allows for flexible liquidity. However, accounts do not need to be verified on DeFi transactions, meaning that payments and asset movements can remain anonymous. This leads to uncertainty and security risk, which is why guidelines and regulation are essential to keep DeFi in check. Ahmed Badr, chief operating officer at GoCardless, commented: 'DeFi and the introduction of digital currencies has the potential to be transformative. CBDCs, in particular, may drive the next level of simplification, for example allowing for more transparent and efficient exchanges of value directly from one account to another.' Julija Fescenko, head of marketing and communication at Magnetiq Bank, said that there is no doubt that 'the future of money in Europe is digital', furthering that progress being made on CBDCs in Europe is a stepping stone between traditional banking and DeFi. Fescenko stated: 'DeFi and CBDCs are transforming the very foundation of money. While DeFi provides borderless and programmable financial services, it also brings concerns regarding security, compliance, and systemic risk. In contrast, CBDCs could enhance the effectiveness of monetary policy and payment efficiency, but they must be designed to protect privacy and coexist with commercial bank money. Fintech companies will need to adapt to this dual landscape by investing in compliance technology, interoperability layers, and digital asset management solutions to stay competitive.' Smart contracts are increasing in usage, utilised by retailers to manage supply chains and by individuals in trading. Smart contracts are digital contracts stored on blockchain, they automate the execution of a predetermined agreement. The actions that a smart contract can execute are numerous, from releasing funds to sending notifications. Like most DeFi tech, smart contracts do not require a third party to review the transaction, actions are carried out according to the agreement made by the two parties. The automated aspect of the transaction make it immediate, and therefore instant, and by operating on encrypted blockchain it ensures that the transaction is secure. Another key innovation is crypto payments. According to the Payments Markets Report 2025, cryptocurrency payments has surpassed 560 million users in 2024, and 60% of those surveyed stated they were interested in using digital currencies for payments. Quantum computing is also on the horizon for becoming the next big trend. Quantum computing is expected to make waves in four key sectors: chemical, pharmaceutical/life sciences, financial services, and transportation/mobility, estimating a $2 trillion valuation by 2035. According to McKinsey, the quantum computing market could reach $173 million by 2040, having seen £42 billion in investment globally. What is the role of predictive analytics and AI in the emerging payments space? Predictive analytics and AI are drivers of the payments revolution, and can be implemented throughout the transaction process accomplishing a significant reduction of risk and enhanced customer experience. Tom Moore, head of financial services at Moore Kingston Smith cited how AI be implemented in multiple areas of payments: 'When it comes to the user experience, AI can help optimise contactless payment processing by predicting peak transaction times and allocating resources accordingly, to ensure smooth and efficient operations. For digital wallets, analysing these spending patterns could enable companies to offer personalised offers and discounts or provide users with insights into their spending habits and future payments.' As Moore illustrated, AI integration in personalisation and customisation can improve user experience. Furthermore, AI can be used to process large datasets to detect fraud, find fraudsters, and identify unusual spending patterns. AI monitoring of BNPL can analyse transaction and social media history of an applicant to determine credit-worthiness. Carl Slabicki, executive platform owner, treasury services at BNY Mellon noted: 'In contactless payments, AI can help detect and prevent fraud in near-real-time through enhanced anomaly detection techniques. For Buy Now, Pay Later (BNPL) services, AI could be used to help assess credit worthiness more accurately and predict repayment behaviors, which could in turn lead to more inclusive lending and reducing default rates. Overall, AI and predictive analytics may make payments more secure, efficient, and tailored to individual needs.' Vibhor Narang, executive director of structured solutions cash management and transaction banking at Standard Chartered Europe, mentioned that corporate payments will be transformed by the integration of AI, in allowing treasurers to forecast cash flow, liquidity planning, proactive risk management. Narang highlighted that AI can analyse diverse data sets to predict market shifts and how to navigate economic volatility. Narang detailed: 'Algorithmic models are redefining FX trading and crossborder payment execution. Adaptive FX algo strategies manage currency exposures and optimise trade execution, cutting costs and operational friction. Adoption of enriched data standards like ISO 20022 amplifies AI's impact by providing richer, structured payment data, fuelling deeper insights and automation across the payments value chain. In this new era, the future of corporate payments belongs to those who transform predictive intelligence into strategic foresight-turning treasury and payments functions from cost centres into engines of competitive advantage.' Wendy Reedshaw, chief digital information officer at NatWest Group, commented on how NatWest is employing AI: 'GenAI tools are helping reduce the number of times a colleague needs to intervene in a transaction. As these tools mature, we expect they will underpin smarter, safer, and more seamless payment innovations, delivering simpler, more personalised services at even greater scale.' How can FIs navigate the regulatory complexities that accompany innovation? 'It's important to ensure that these innovations align with national and European financial regulations. Lawmakers and regulatory bodies play a crucial role in this journey, thoughtfully creating legal frameworks that prioritise security and compliance. By doing so, we can truly unlock the full potential of AI while safeguarding personal data and ensuring financial security,' postulated Fescenko. The European regulatory landscape is defined by age-defining regulations such as DORA, MiCA, and PSD3 that create a foundation for growth in a controlled environment, that outlines the risk involved. These frameworks are designed to provide clarity where before there was confusion, and to provide step-by-step guidance on adoption for financial organisations seeking to integrate new technologies. European governments are taking the lead in driving growth, as seen as the adoption of CBDC pilots for the Digital Euro and Digital Pound, and push for digital finance to be held up by governments. Conor McNamara, EMEA CRO at Stripe, commented: 'Compared to other parts of the world, the EU offers diverse local payment methods, and it's a great example of how regulation can boost entrepreneurship. We've seen this first-hand with PSD2—a regulation that enabled many global leaders in fintech, built from Europe. That said, this isn't a time for complacency. Digitalisation will change money movement drastically in the coming decade. And we generally support more choice and competition in the market and a variety of payment methods. Stablecoins are one of them, and a digital euro could potentially be another. The one thing we'd say is that speed matters— stablecoins are being used every single day by businesses across the globe, so if Europe is serious about the digital euro, turning it into a real thing soon will be key.' Narang explained that regulatory guidelines are essential in shaping how innovation moves in the industry: 'DeFi's rapid evolution demands a balanced regulatory response: mitigating risks like smart contract vulnerabilities and financial crime, while preserving its potential to democratise access to finance. At the same time, the development of a digital euro and expansion of regulatory sandboxes across Europe are enabling both fintechs and established institutions to experiment, collaborate, and innovate within a clear, supervised framework. Adoption of harmonised data standards, such as ISO 20022, will further empower AI-driven analytics and seamless cross-border payments. 'As I see it, Europe's leadership in fintech will be defined by its ability to build trust, foster responsible innovation, and create a regulatory environment where bold ideas become reality-without compromising security or stability. By harmonising oversight, incentivising public-private collaboration, and embedding ethical guardrails, regulators can ensure Europe remains the global benchmark for responsible and transformative fintech innovation.'
