Una visione globale dell'attuale e futuro ruolo dell'Energia Nucleare nel mix energetico del Regno Unito e dell'Unione Europea

The production of energy is the main source of CO2 emissions, accounting for more than 70% of the global amount. For this reason, the transition towards a clean, affordable and sustainable energy system has been the centre of attention since the beginning of the discussion about climate change mitigation policies at both national and international levels. In the United Kingdom and European Union, the greatest contribution to these targets has been given through nuclear power which is a dispatchable low carbon energy source. Nevertheless, due to radiation concerns, the future of nuclear energy is put at risk. In fact, in absence of further investments to develop new projects or to extend the operating lifetime of existing power plants, in advanced economies the nuclear capacity is forecast to decline by about two-thirds by 2040. For these reasons, nuclear power is, once again, at the centre of the European discussion, with countries divided on whether it should have a role in the future energy mix or not. This thesis consists in the analysis of nuclear’s current role in the energy mix and its possible future deployment. In the first chapter the current state of nuclear energy in the United Kingdom and European Union with their policy trajectories is examined. In addition, the economy of a nuclear plant is analysed, with all its associated costs. Instead, in the second chapter the focus is on the actual role of nuclear power in the energy mix and if it is compatible with an electricity mix dominated by variable renewable energy sources. The impact of nuclear in the energy crisis that is currently hitting the European continent is also studied. Furthermore, future scenarios to reach the decarbonisation of the energy mix are examined with a particular attention on the possible nuclear contribution. Additionally, the issues that might mine the future of nuclear energy are examined both from the economic point of view and the acceptance one. In the third chapter, instead, small modular reactors (SMRs) are observed and studied to see if they may be an alternative to larger ones and if they may play a relevant role in the future energy mix. The examination underwent an analysis both from an economic standpoint and a market one. It emerges from this study that small modular reactors fit better in an energy mix dominated by variable renewable energy sources than large reactors, even if they remain more expensive in terms of capital investment per kWe. Moreover, they are preferable in specific situations where investments are carried out from private investors with limited financial resources or the grid cannot support large reactors for any reason or do not need them. SMRs might also be an attractive alternative for those countries that wish to add nuclear in their energy mix too, the so called “newcomer” countries. However, because no small modular reactor has been built yet, the economic competitiveness and flexibility are still to prove.