Latest news with #carbonfree
Yahoo
2 days ago
- Business
- Yahoo
Europe Reconsiders Nuclear Energy Policies
Europe is embracing nuclear energy with a new vigor. Even the most historically staunch nuclear opponents are softening their restrictions on the carbon-free form of energy production as the continent continues to pivot away from oil and gas imports and toward energy independence in the long shadow of Russia's invasion in Ukraine and the European energy crisis that followed. In March, the government of Italy made a significant step toward overturning the nation's 40-year ban on nuclear power production. In April, leadership in Spain indicated that they would be open to reconsidering the phase-out of nuclear plants in that nation. And just this month, Denmark followed Italy's lead in publicly announcing the legal revisitation of its nuclear ban, and Germany – Europe's starkest nuclear energy adversary – agreed to drop its opposition to nuclear power in European Union legislation, in cooperation with France. A German official called the move 'a sea-change policy shift' that will remove roadblocks and increase efficiency in energy policymaking within the European Union. According to a report from CNBC, 'The renewed European interest in nuclear shows how some countries are hedging their bets in pursuit of more energy independence.' However, it's also related to the 'hidden cost' of balancing and transporting electricity from renewables, the outlet reports. While solar and wind remain much cheaper alternatives for power generation, their rapid expansion in European grids has not been without challenges. Last month, one of the worst blackouts in European history crippled power grids across Spain and Portugal, and many think that the rapid buildout of renewable resources in that region could be to blame. While official reports on the cause of the blackout are still in investigation stages, critics have been quick to point to the fact that around 70% of Spain's electricity production at the time of the blackout, and that Spain's solar capacity growth has outpaced the rest of Europe by a factor of two. Furthermore, the pivot toward renewable energy has caused some volatility in European energy markets, where prices have occasionally dropped below zero over the past year. While these price crashes are great news for European consumers, who have been battered by high utility bills in recent years, they're bad news for the sector and the climate, as they can discourage further investment in renewable capacity expansion. Despite these challenges, solar and wind remain critically important to Europe's energy independence and for climate goals. But leadership is clearly looking for a stop-gap while renewable-charged grids get their sea legs. 'Solar and wind are still the cheapest and fastest way to drive the green transition, and that remains our focus. But we also need to understand whether new nuclear technologies can play a supporting role,' Lars Aagaard, Denmark's minister for climate, energy and utilities, was quoted by CNBC. A lot of this renewed attention to nuclear power is focused on the rollout of small modular reactors, rather than traditional nuclear plants. This relatively nascent technology offers a lot of advantages for countries like Denmark and Italy who phased out their nuclear workforces, and thereby national nuclear expertise, years ago. Unlike full-scale nuclear power plants, which require years of design and planning, these small modules are built in a factory setting and assembled on-site with a relatively small crew, and require little oversight. 'We have no recent experience with nuclear power, and we lack the necessary knowledge regarding safety and waste management. That's why we must begin a serious analysis — not to replace solar and wind, but to see whether new nuclear can complement our energy system in the future,' Aagaard said about Denmark's aversion to traditional nuclear development. By Haley Zaremba for More Top Reads From this article on
Yahoo
4 days ago
- Business
- Yahoo
AI Data Center Boom Boosts CEG Outlook; BMO Raises Target to $337
BMO Capital recently raised the price target on Constellation Energy Corporation (NASDAQ:CEG) to $337 from $291 and kept an Outperform rating on the shares. CEG generates and sells electricity in the United States. The rise of AI data centers has given new importance to utility firms that have been the best performers in the S&P 500 over the past few months. In a research note, the analyst highlighted that the company reported an in-line Q1, and the most important takeaway for Constellation and the broader sector was management's discussion that they were nearing long-term agreements with customers to their available carbon-free supply. A close up of a wind turbine producing electricity as the sun sets. In earnings for the first quarter, CEG posted earnings per share of $2.14. The revenue over the period was $6.69 billion, up more than 8% compared to the revenue over the same period last year. The firm also reaffirmed the full-year 2025 Adjusted (non-GAAP) Operating Earnings guidance range of $8.90 - $9.60 per share. While we acknowledge the potential of CEG, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CEG and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 33 Most Important AI Companies You Should Pay Attention To and 30 Best AI Stocks to Buy According to Billionaires Disclosure: None. Sign in to access your portfolio
E&E News
23-05-2025
- Business
- E&E News
Wisconsin OKs gas-fired power to offset coal closures, serve data centers
Wisconsin's largest utility received approval from state regulators Thursday to add almost $1.5 billion of new gas-fired generation to supply new data center demand as it shutters existing coal plants. The three-member Public Service Commission, all appointees of Democratic Gov. Tony Evers, voted unanimously to conditionally approve the projects proposed by Milwaukee-based We Energies over opposition from consumer advocates and environmental groups who argued that the utility was overlooking cheaper, cleaner options. The issue before the PSC highlights a tension across the country. States have established emissions reductions goals, yet face political pressure to attract economic investment, specifically 'hyperscaler' data centers like the ones proposed along Wisconsin's Interstate 94 corridor. Advertisement Such is the case in Wisconsin, where Evers during his first term laid out a goal of achieving 100 percent carbon-free electricity by 2050. But the governor sees data centers — and especially a $3.3 billion Microsoft data center campus in Mount Pleasant, Wisconsin, outside Milwaukee — as a huge economic win for the state.
E&E News
21-05-2025
- Business
- E&E News
TVA jumps ahead in utility race for small nuclear permit
The Tennessee Valley Authority asked federal regulators Tuesday to approve its plans to build an advanced nuclear reactor, making it the first utility to do so. Although the Clinch River small modular reactor (SMR) project in Oak Ridge, Tennessee, is still officially exploratory, TVA's Nuclear Regulatory Commission permit application pushes it closer to reality. SMRs are designed to be factory assembled. They have not yet been deployed in North America. 'Submitting the construction permit [application] is a tremendous step forward for American energy innovation and for getting more carbon-free resources online in the Tennessee Valley when industry is demanding more energy and more carbon-free sources of energy,' said Cortney Piper, executive director of the Tennessee Advanced Energy Business Council. Advertisement SMRs are often hailed as the future of nuclear power, promising enhanced passive safety features, cost reductions by developing an assembly line process, and greater flexibility for siting. Silicon Valley is investing in the technology due to its low emissions and potential to power rapidly growing data centers, while lawmakers hope it will provide the 24/7 reliability of nuclear power with a lower price tag.
Reuters
19-05-2025
- Business
- Reuters
Bipartisan group of US lawmakers introduce bill to boost nuclear power
WASHINGTON, May 19 (Reuters) - U.S. senators from both major parties introduced a bill on Monday aimed at offsettingChina and Russia's growing influence on international nuclear energy development. The United States has more nuclear power capacity than any other country, but China is quickly developing domestic reactors and Russia is working deals with countries in Southeast Asia and other regions. The administration of U.S. President Donald Trump has debated draft executive orders aimed at boosting its control over approvals of nuclear reactor projects currently handled by an independent agency. While it is uncertain the orders will make it to Trump's desk, they also seek assessments on recycling nuclear waste, a process opposed by proliferation experts. Both parties support nuclear power amid forecasts that electricity demand will surge for years from artificial intelligence data centers. Republican Senators Jim Risch and Mike Lee are sponsoring the legislation along with Democrats Martin Heinrich and Chris Coons. Nuclear power is virtually carbon-free and provides high-paying jobs. But development of reactors is plagued with delays and high costs and the source produces radioactive waste. The International Nuclear Energy Act would support an office to boost nuclear exports, financing, the harmonization of regulations, and the standardization of licensing. It would work to set up a fund financing projects key to national security. It would require a cabinet-level biennial summit on safety and security and relationships between industry and government. "If the U.S. doesn't lead on nuclear energy development, Russia and China will," Risch said in a release, adding that nuclear power provides the U.S. "tools we need to compete with these authoritarian aggressors." "Achieving American energy dominance will require us to streamline our nuclear exports, foster our relationships abroad, and bring the full weight of American industry to bear in out-competing our geopolitical adversaries," Lee said.
