What if we need to take another look at nuclear power?

Nuclear energy has a very bad reputation, and ever since Chernobyl, it has earned the fear it inspires. However, this hasn't stopped many countries from continuing to invest in it because they need it to function. In Catalonia alone, it accounts for more than 50% of the energy we generate. The Fukushima earthquake, now 15 years old, gave ammunition to anti-nuclear activists, and several countries, including Germany and Spain, began denuclearization plans, relying on seemingly stable gas and oil reserves and the possibility of adapting to renewable energies for long-term sustainability. The war in Ukraine, which cut off the supply of Russian gas, and now the Gulf War, have changed things.

In fact, the debate about whether this closure decision was premature has been ongoing for some time. Japan, for example, is trying to reopen its closed nuclear power plants, and now more than ever, it will have incentives after the halt in gas and oil shipments through the Strait of Hormuz. German Chancellor Friedrich Merz has already said it was a mistake, although he doesn't see it as reversible. The United Kingdom is building new, more modern nuclear power plants, which will be the most expensive in the world. And France, which has always remained committed to its nuclear program—also with regard to weaponry—is encouraging Europe to invest more and is pressing for the veto to be lifted. With the war in Ukraine, which significantly lowered expectations for the great green revolution anticipated for this decade, investments in the sustainable transition decreased, and not only did some countries have to return to coal, but the European Union itself included nuclear power as "green energy"—referring to radioactive waste—which has been increasing over time. The world needs and consumes ever more energy, but there are still no real alternatives to fossil fuels, and these are becoming increasingly difficult to secure. That's why a pragmatism is taking hold in Brussels, one that they will likely end up paying for in the long run.

The war in Iran has further reignited the debate, and this could ultimately have repercussions for the immediate future of Catalonia's nuclear power plants. The sector is closely watching what happens at the Almaraz plant in Extremadura, which is the first scheduled to close, with the first reactor at the end of this year and the second at the end of next year. The owning companies (Iberdrola, Endesa, and Naturgy) have asked the Spanish government to postpone the closure until 2030, and if this is granted, it will affect the other plants, including the three in Catalonia, which maintain they can continue operating for another ten years with the necessary investments. The debate is open, and there are reasonable arguments in all cases because, certainly, as we also explained in today's report, safety has steadily increased, and the nuclear sector is one of the most innovative in the energy sector. In any case, we cannot be maximalist. For the moment, we need energy, and nuclear power is still necessary. This is especially important because significant investments in distribution and storage networks are needed to make renewable energy more reliable. Any decision must take all variables into account.