EMC Working Papers

• Croatia should commission a Small Modular Reactor (SMR) as a pioneer of new types of nuclear power station

This short policy report considers the opportunities available to the Croatian government for the utilisation of new nuclear technology for domestically produced energy.

As other European countries struggle to balance their desire for a reliable energy supply with their contribution to climate change, recent advances in nuclear technologies present a solution.

Background

• Nuclear power has been demonstrated to be a safe, cheap alternative to fossil fuels
• Emphasis on sustainable economic development necessitates non-carbon energy providers

The global reliance on fossil fuels is a function of our energy needs, and although attempts to reduce demand (such as making internal combustion engines prohibitively costly to operate, or levying large taxes on air transport) may form part of the strategy, appropriate sources of supply still need to be defined.

Fossil fuels such as coal, oil and gas have the benefit of being capable of servicing our energy needs. However, they are a chief contributor to climate change. And as countries attempt to meet the Paris Agreement of keeping global temperature below 2^o above pre-industrial levels, non-carbon energy sources are essential. Renewable sources such as wind or solar are clean, but intermittent, require an uneven geographical distribution, and are prohibitively expensive to fully replace the carbon pollutants.[1] Nuclear energy provides an opportunity on the grounds that it’s capable and clean.  

[1] Although renewable energy has demonstrated encouraging reductions in cost over time, they require massive amounts of land (or sea) which are not always close to the points of energy consumption. According to Eli Dourado there are no solar farms capable of operating at a similar scale to nuclear power stations, and just a single wind farm (in China, with a current output of 8 GW and planned output of 20 GW). See https://elidourado.com/blog/move-the-needle-on-progress/

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 Prepared by ESCP's Prof. of economics Anthony J. Evans with the helpful research assistance from MSc in Energy Management Students Faith Ogedengbe and Lordia Yalley.

Anthony J. Evans is one of Europe's leading Managerial Economics instructors. He has published in a range of academic and trade journals and is the author of "Economics: A complete Guide for Businesses".

Research Topics: Energy Capacity Deregulation