LONDON, Oct 5 — The share of nuclear power in global gross electricity generation fell below 10 per cent last year to the lowest in around four decades, an industry report showed today.

Nuclear energy generated 2,653 terawatt hours of electricity last year, accounting for 9.8 per cent of global generation — the lowest since the 1980s, the annual World Nuclear Industry Status Report (WNISR) showed.

Proponents of nuclear say as a low-carbon power source it could be vital in helping countries meet climate targets, but several plants around the world are coming to the end of their life expectancies and many new ones have faced delays.

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The most nuclear power in the world is generated in the United States, followed by China.

As of mid-2022, 411 reactors were operating in 33 countries, four less than a year earlier and 27 below a 2002 peak of 438.

The slow pace of new projects coming on stream has meant the average age of reactors is around 31 years old.

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Out of 53 reactors under construction currently, at least half of the projects are delayed. Five new units became operational in the first half of this year, while eight closed last year.

Global investment in new nuclear construction projects last year was around US$24 billion (RM111 billion), accounting for 6.5 per cent of total investment of US$366 billion in non-hydro renewables projects.

Nuclear power is also losing ground to renewables in terms of cost as reactors are increasingly seen as less economical and slower to build.

The levelised cost of energy — which compares the total lifetime cost of building and running a plant to lifetime output — fell to US$36 per megawatt hour (MWh) last year for solar photovoltaic from US$359/MWh in 2009, while the cost for wind fell to US$38/MWh from US$135/MWh, the report showed.

However, nuclear power costs rose by 36 per cent last year to US$167/MWh from US$123/MWh in 2009. — Reuters