France calls for Europe to throw its weight behind nuclear power

BLOOMBERG

France wants Europe’s nuclear industry to be recognised as a key force that can help the continent compete with the US and China.
President Emmanuel Macron has pledged to build at least six new reactors in his country and put them into service from 2035. On Tuesday, he called for the European Investment Bank to fund “all low-carbon technologies available, including nuclear,” according to a transcript of his remarks.
The Luxembourg-based bank, which is the lending arm of the EU, has been trying to steer clear of hotly-debated proposals to provide a green label to some nuclear projects. France, meanwhile — which gets most of its electricity from atomic reactors — is spearheading a push to recognize nuclear power as a force to meet climate goals.
The country’s energy transition minister, Agnes Pannier-Runacher, held a meeting in Stockholm with a dozen of her more like-minded European counterparts in an attempt to push for nuclear power to be recognised by legislation as a tool to lower bloc’s emissions.
The countries called for more cooperation between their nuclear sectors in a joint statement published after the meeting. They also insisted nuclear power was important to lower emissions and increase energy security.
Low electricity prices “are key for the competitiveness of our industries,” Pannier-Runacher told reporters after the meeting.