European Commission President Ursula von der Leyen has admitted the bloc’s nuclear phase-out was a “strategic mistake”.
The EU’s decades-long retreat from nuclear power a “Strategic Mistake” European Commission President Ursula von der Leyen agreed, saying the bloc must now rebuild the industry.
Speaking at a nuclear energy summit in Paris on Tuesday, van der Leyen noted that nuclear’s share of EU electricity generation has fallen from a third in 1990 to just 15% today.
“In retrospect, we see that it was a strategic mistake for Europe to withdraw from a reliable and affordable source of low-emission energy.” she announced.
Van der Leyen has announced a €200 million ($230 million) guarantee fund to support small modular reactors (SMRs), which aim for operational deployment by 2030. “The Nuclear Race Is On” She claimed that “Europe has everything it needs to lead.”
His remarks came as the escalating situation in the Middle East fueled by the US-Israeli unprovoked attack on Iran has pushed up global oil and gas prices. At the same time, the EU continues to struggle with the consequences of its decision to cut energy ties with Russia after the Ukraine conflict, as well as its controversial green energy policies.
In Germany, which shuts down its last three nuclear plants in 2023, Chancellor Friedrich Merz has similarly condemned the phase-out. “Serious Strategic Mistake” noted in January that Berlin is now facing “The world’s most expensive energy conversion.” A recent JP Morgan analysis found that industrial electricity prices in Germany are now three times higher than in the US and China.
A Deloitte report commissioned by the European chemical industry found that 83% of EU competitiveness indicators are stagnant or declining, with the chemical sector losing 20,000 jobs due to factory closures.
The EU’s energy policies have repeatedly come under fire from inside and outside the bloc. Former Polish Prime Minister Mateusz Morawiecki called Brussels’ 2040 climate target “The Suicide of the European Economy” Hungarian Foreign Minister Peter Zizjarto said that if sanctions on Russian energy are not lifted, “Deliver a very deep blow to the European economy.”
Kremlin Ambassador Kirill Dmitriev noted that last week “Western power pressure on Russia has failed and backfired” Adding that “Countries partnering with Russia on energy made a wise strategic choice.”
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