Cheap natural gas from fracked shale is stalling a nuclear power renaissance in the United States, reports The Economist.
The Economist: "Far from building new reactors, utilities are closing existing ones. Also in May, Dominion power shut a nuclear plant in Wisconsin that was licensed for another 20 years, 'based purely on economics'.
"The culprit is the price of natural gas, which fell from over $13 per million British thermal units in 2008, when many of the applications to build new nuclear plants were lodged, to just $2 last year. Although it has since recovered to over $4, America’s huge reserves of shale gas should stop it from rising much for years to come. That makes some old nuclear plants costlier to run than gas-fired ones."
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