A key player in a sustainable future
Energy demand is surging, and the need for a reliable and stable baseload of power is a global imperative. Yet nuclear energy, despite its potential, remains shrouded in misconceptions. In a recent episode of The Risk Circuit, Lucy Stanbrough and Kate Fowler unpacked the myths and realities shaping nuclear’s role in the energy transition. Here are the key insights every natural resources sector leader should know.
Catastrophic events like Chernobyl or Fukushima are often the first association with nuclear power, but in reality, these incidents are rare—just three major events across decades of global operations. With over 400 reactors worldwide and millions of operating hours, nuclear ranks among the safest energy sources. In fact, fatalities per terawatt hour are lower than hydropower.
“I love to share this story. I have three kids. And throughout my time inspecting nuclear power plants and working at nuclear power plants, I was pregnant with all three of my children because I had such a high confidence in the safety and the protection of employees, let alone the public, for nuclear. I was getting below background limits, even being inside the reactor building. Plant operators are continuously monitoring the workforce to make sure that they're not exposed to harmful radiation. When we look at the technology side of things, the technologies we have in place today are very safe.” Kate Fowler, Global Head of Nuclear, Willis Natural Resources
Modern plants incorporate passive safety systems that can shut down without human intervention, and next-generation designs are pushing safety standards even further.
Yes, nuclear produces waste—but far less than most imagine. A single plant operating for 40 years generates roughly 700 square feet of spent fuel. “to put this in context, you can power one human’s entire life with a 12-ounce soda can worth of nuclear fuel”, Kate Fowler. Solutions like reprocessing, already used in France, can extend fuel life and reduce waste volumes. While policy and infrastructure need to catch up, the challenge is solvable—not insurmountable.
Operationally, nuclear is a zero-carbon technology. While construction and fuel mining involve emissions—similar to other energy sources—the plant’s lifecycle impact is minimal compared to fossil fuels. And those iconic cooling towers? They emit steam, not smoke. In some cases, nuclear plants have even created positive environmental outcomes, such as warm-water habitats for manatees.
Far from it. The sector is buzzing with innovation with developers exploring different methodologies, improving safety systems, streamlining deployments and grid connections, decreasing waste and improving costs. Globally, there are over 100 new technology developers for nuclear, and a lot of those are in the small modular reactor space (SMR). Nuclear is not a relic—it’s a frontier.
Upfront costs are high, there’s no denying. But on balance, nuclear surpasses other energy sources’ longevity and reliability. Plants can operate for 80–100 years, delivering continuous baseload power—a critical advantage over intermittent renewables. “When we're looking at the levelized cost, nuclear is going to be more expensive than other technologies, but it also has a longer lifespan. If we compare nuclear to solar—the major renewable energy source—you would have to build solar assets at least three times to get the lifespan that you would with nuclear”, Kate Fowler.
When factoring lifespan and grid stability, nuclear’s value proposition becomes clear.
The demand for power is set to grow exponentially. In a recent article, we discuss how nuclear power could be the answer to the big data question. Electricity consumption by data centers is set to double by 2030 and energy required for AI chip production soared by more than 350% worldwide between 2023 and 2024. This trajectory is showing no sign of slowing. Powerful AI supercomputers need powerful data centers, and a powerful solution for energy.
“It’s time to move beyond myths and embrace nuclear as part of a resilient energy future.”
Kate Fowler | Global Head of Nuclear, Natural Resources
Nuclear energy is not the villain of the clean energy narrative—it’s a vital player. As industries grapple with rising power demands and decarbonization goals, nuclear offers a safe, scalable, and sustainable solution. The challenge lies not in technology, but in perception, policy, and investment.
Leaders must challenge outdated narratives and explore the potential of nuclear as part of a resilient energy mix. “It’s time to move beyond myths and embrace nuclear as part of a resilient energy future”, Kate Fowler.
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