The European Union’s nuclear sector currently contributes €251.2 billion annually to the region’s economic output and sustains more than 883,000 jobs, according to a recent report commissioned by Brussels-based industry association Nucleareurope and prepared by Deloitte. The study evaluates both the current and potential future economic impacts of the EU’s nuclear industry as the bloc seeks to meet its energy security and decarbonization goals.
The report analyzed the direct and indirect economic benefits of the EU’s existing nuclear capacity, which currently stands at approximately 106 gigawatts electric (GWe). In addition to its significant economic contribution, the sector also generates around €47.6 billion in public revenues each year. The study was designed to offer policymakers a comprehensive view of the nuclear sector’s economic role and to project its potential contributions through 2050 under varying capacity scenarios.
The analysis examined three nuclear capacity scenarios for 2050: maintaining capacity at 100 GWe, increasing it to 150 GWe, and expanding it to 200 GWe. Under the highest scenario of 200 GWe, annual economic output could rise to over €383 billion, supporting nearly 1.6 million jobs across the EU. Even a more moderate expansion to 150 GWe would deliver more than €330 billion in annual economic output and sustain approximately 1.5 million jobs.
Nucleareurope emphasized that these projections provide policymakers with valuable insights as they consider future energy strategies. The organization noted that while the potential benefits are substantial, actual outcomes will depend on the timely execution of new reactor construction plans. “The decision-makers now have access to a reliable forecast of the benefits that would be derived from the deployment of a 200 GW nuclear power capacity throughout the European Union,” Nucleareurope stated.
Emmanuel Brutin, Director General of Nucleareurope, highlighted the broader implications of nuclear investment, stating that nuclear energy represents one of the few net-zero value chains firmly anchored within Europe. He added that expanding nuclear capacity would not only boost economic growth and job creation but also strengthen energy security and advance the EU’s decarbonization objectives. Brutin called on the European Commission to create a supportive policy framework that encourages long-term investment in nuclear power, referencing instruments such as the Nuclear Illustrative Programme (PINC) and the next Multi-annual Financial Framework.
In April, the European Commission initiated a four-week public consultation to gather feedback on the investment needs of the EU’s nuclear sector. This consultative process allows stakeholders and the public to contribute their views, with the collected input set to inform the Commission’s upcoming update of the PINC, scheduled for release before the end of 2025. – By MENA Newswire News Desk.