A Munich-based think tank, the Ifo-Institut, has expressed interest in re-examining the possibility of reviving nuclear power in Germany after the federal election. “The new government should have an independent assessment of whether it would be possible to reactivate nuclear power plants and at what cost” said Karen Pittel, head of the Center for Energy, Climate, and Resources at the Ifo-Institut, in an interview with the Spiegel. Germany could gain an additional source of weather-independent, carbon-free, and affordable electricity through nuclear energy.
However, the economist expects the government to have to foot the bill for a nuclear renaissance. “It is likely that the state would have to subsidize the reactivation of nuclear power plants or at least guarantee a certain payment for the electricity over several years” Pittel said.
Pittel dampened expectations that the reactivation of the three recently shut-down nuclear power plants would significantly lower the wholesale prices of electricity in Germany. The price at the power exchanges is always set by the most expensive power plant, she explained. “They are usually gas power plants, unless the output from renewable energy sources does not suffice.” She added, “Three additional nuclear power plants would only marginally influence the price.”
The scientist is also skeptical about the construction of new nuclear reactors. “A new nuclear power plant of the size of Isar 2 would cost around 15 to 20 billion euros, according to past European experiences” Pittel said. It could take at least 20 years for such a plant to be completed.