German sentiment toward nuclear power turning positive

Europe is in the midst of an energy crisis and is desperately searching for reliable, clean sources of baseload energy generation.

Nuclear power fits that bill perfectly, offering one of the lowest carbon-footprints and highest utility rate of all renewable energy technologies currently available.

Germany, being Europe’s largest economy, is responding by extending the life of its three remaining nuclear power plants in what marks a change in sentiment towards the nuclear industry.

This comes only a week after European climate change activist Greta Thunberg said it would be a mistake if Germany was to shut down operating nuclear power plants - marking a change in sentiment from climate change activists on the energy generation technology.

Uranium is the primary fuel source for nuclear power, so we think our US uranium exploration investment GTI Energy (ASX: GTR) is well positioned to benefit from an improved macro outlook for the uranium industry.

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Our key takeaways from the article are as follows:

• German Chancellor Olaf Scholz ordered an extension in the life of the country’s three remaining nuclear plants.
• Germany agreed to phase out nuclear power after the Fukushima disaster in 2011 but the current government has come under pressure to shore up alternative sources of energy that don’t use expensive natural gas.
• Germany’s four transmission operators have also called for all three plants to be kept running until spring to ease Germany’s power crunch.