Don't Look Now, But Nuclear Power Is Coming Back

According to Stefan Ljubisavljevic of Macquarie Research, nuclear power has been "making a quiet comeback" as total output this year is expected to be the strongest since 2011. Nuclear power production saw a swift downturn following the 2011 Fukushima disaster. Many power plants either shut down, or revised expansion plans if they were not completely shelved. Ljubisavljevic continued that global nuclear power output has risen three percent from January through July – which actually marked the 26th consecutive month of year-over-year growth. The analyst noted that growth has been coming from nuclear generating countries, such as the USA and France, along with "growth countries" including China and India. Ljubisavljevic also pointed out that low alternative fuel prices (such as gas and coal) will counter the rise of renewable energy that is backed by government policy, and in many cases the need to extend the life of old nuclear plants. Nevertheless, the analyst said that nuclear power will prove to be a "growth industry" and the average cost of nuclear power generation is still below its fossil fuel counterparts. In addition, growing nuclear energy will also support uranium demand which is expected to grow at a two percent compounded annual growth rate through 2020.