Nuclear Power: It's An Exciting Time

This is an exciting time to be in the nuclear industry. Capacity factors are the highest they have ever been and still rising. Outage durations are falling and nuclear electricity production costs are low in comparison with some other forms of generation. Because of our reliable record of operation, the public attitude in some parts of the world has improved.

Low production costs and energy security issues are fueling a renewed emphasis on nuclear power. The nuclear industry is responding with plant life extensions and power uprates. Even though many plants have been operating for 20 years or more, given the current conditions, these plants are valuable assets that need to be preserved.

Nuclear utilities are facing modernization challenges, particularly in the areas of component repairs and replacement and electrical and I&C upgrades. As a result of low production costs and high capacity factors, nuclear power plants can generate the revenue necessary to make these modernization investments.

To meet these modernization challenges, nuclear plants are looking to service providers for assistance in helping them evaluate the existing condition of their plant and the aging mechanisms at work to make recommendations on what needs to be done to achieve long-term operational success. They are expecting suppliers to develop the most economical and safe solutions and to guide them in prioritizing these issues based upon susceptibility to failure, aging, repair versus replacement options and replacement lead-times, to name a few. These large and diverse scopes are leading some utilities to form long-term alliances with a vendor.

In addition to preserving their existing assets, utilities have begun the long-term planning for new nuclear power plants to meet future electricity needs with safe, reliable, and environmentally friendly generation. Multiple technologies are in development around the world and it is generally believed that a new nuclear power plant will be contracted within years.

For those of us who have been in this business for a number of years, the recent turn of events is not only invigorating but also a welcome recognition of all the industry's hard work over the years to prove the viability and necessity for nuclear power generation as a part of the energy mix.