Article Image
IPFS News Link • Precious Metals

Uranium Stocks Rise As German Minister Sees Nuclear Power Plant Extension Increasingly Likely

• by Tyler Durden

"We are already in a place where the stress test says: It may be necessary to use nuclear power plants for grid security," Economy Minister Robert Habeck said at a climate conference in Berlin, which Reuters quoted. 

Earlier this month, Chancellor Olaf Scholz's ruling coalition approved measures to extend two of the country's three remaining nuclear power plants through the end of this year and into next if needed, reversing planned shutdowns of the plants. 

The reversal comes as the historic energy crisis in Europe worsens by the week. Leaks in the Nord Stream pipelines may indicate Nord Stream 1 is indefinitely shuttered

Habeck said life extensions of the two nuclear plants are to reduce grid bottlenecks. 

"It's not the amount of electricity, but the distribution of power in the grid," he said, adding he was concerned by the decline of nuclear power from France. 

When asked if lifespan extensions of the two German nuclear plants looked possible, Habeck said: "It is certainly not less likely."