The future of energy: are competitive markets and nuclear power the answer?

International energy expert Professor Stephen Thomas of the University of Greenwich will examine whether nuclear power and competition are the solutions to Britain's future energy needs in his inaugural lecture on 4 February.

The World Nuclear Industry Status Report 2009, co-authored by Professor Thomas, found that nuclear power provides only two per cent of the world's total energy consumption and that the industry is in decline despite talk of a renaissance.

Professor Thomas says: "Current and planned building projects of the nuclear industry are becoming increasingly expensive. The European Pressurised water Reactor, for example, the flagship of the world's largest manufacturer of reactors, AREVA NP, which is currently in construction in Olkiluoto in Finland, has so far exceeded planned costs by at least 75 per cent. In the UK we need to examine whether the government will be able to meet its promise to provide nuclear power without public subsidy,
and to its planned timetable.

"The severe winter of 2009/10 will provide a stern test for the competitive gas and electricity markets, especially their ability to provide reliable, affordable supplies. If the result is that large numbers of consumers fall into debt or, worse, die of cold, while the energy companies make handsome profits, the perception that opening up these industries to competition has been a success will disappear."

Members of the public are invited to the lecture which is at 6pm, Thursday 4 February at the University of Greenwich in Room 80 Queen Anne Court, Old Royal Naval College, Park Row, London SE10 9LS. Refreshments will be served from 5.30pm in Room 63, and again at the end, when Professor Thomas will be available to discuss his work. To book a place please phone 020 8331 9083.

Stephen Thomas is Professor of Energy Policy at the Public Services International Research Unit (PSIRU), part of the university's Business School. His research focuses particularly on the liberalisation of energy markets and economic and policy issues surrounding nuclear power.

For further information, interviews and images please contact:
Hester Brown, Press Officer
020 8331 7663
hester.brown@greenwich.ac.uk