The number of nuclear plants operating globally is at a 30 year low. New nuclear plants struggle for investment thus development and upkeep. Proponents of nuclear power say that, as a low-carbon power source, it can be of utmost importance in helping countries meet their climate goals, but several plants around the world are meeting their end and many new ones are facing delays.
Of the 52 new plants being built globally at least 33 are behind schedule, while not a single new project came online in the first half of 2020. This year nuclear plant operators have suffered the consequences by the COVID-19 pandemic with lockdowns causing low electricity demand and reducing power prices significantly. Nuclear power was not able to avoid the impacts of the pandemic, though in most cases reactors have continued to produce electricity.
Global nuclear power generation went down by about 3% in the first quarter of 2020, caused by lower electricity demand. In the first quarter of 2020, most of the reductions in nuclear power were caused by lower electricity demand, alongside planned permanent closures of nuclear facilities. Electricity consumption in certain regions is not likely to reach pre-pandemic levels for many months.
The European Union had the largest reduction in the first quarter of 2020. Lower demand led to nuclear output reductions in several countries, France being the most notable, where nuclear power generation went down by 10%. Multiple reactors were taken offline as demand fell. Shutdown of nuclear power plants also led to reductions. Nuclear power has also been an important source of power in France, Germany, Belgium, the Slovak Republic and Sweden. In Germany output fell by 17%, as steps are taken towards a complete nuclear power phase out by the end of 2022. In the United States, nuclear output went down by 2%.
Low electricity cost and demand have continued throughout 2020. The lockdown has also impacted nuclear power construction activity and slowed it down by a significant amount. The completion of numerous projects is likely to be pushed by a few months to 2021, which includes two reactors in China and one in Finland. Other construction delays are likely to happen in France, the UK and the US. Nuclear power is not a preferred source of electricity as of currently, and it seems that not many countries will implement nuclear power on a higher scale any time soon.