Russian and Chinese Designs Dominate Nuclear Reactors, Warns IEA Chief

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Companies in Europe and the U.S. must do a better job of getting nuclear plants constructed on time and in budget, said IEA Executive Director Fatih Birol.

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Governments need to implement policies to"ensure safe and sustainable operation of nuclear plants for years to come," Birol said, and they will need to invest in new technologies. He also warned that for advanced economies to catch up with Chinese and Russian nuclear operations, companies have to become better at delivering nuclear construction projects on time and on budget.

"The nuclear industry must quickly address the issues of cost overruns and project delays that have bedevilled the construction of new plants in advanced economies," Birol said.have become a prime example of the inability of the nuclear industry to execute efficiently.There are nuclear power reactors in 32 countries, and 63% of the energy generating capacity of that global fleet of nuclear reactors is from plants that are at least three decades old.

That existing fleet of nuclear reactors in advanced economies specifically will shrink by a third without intervention, which the IEA admits often requires"substantial investment."

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