Pros and Cons

Benefits and disadvantages of nuclear power

• Technological risks - as advances in nuclear technology take place, so too do the potential risks of failures.  With every new design comes testing and regulatory approvals which could take up to 20 years.
 
• Environmental risks - plutonium has a reputation for being one of the most dangerous substances known to man.  When reprocessing, there is a grave concern over what to do with surplus plutonium.  The International Atomic Energy Agency ("IAEA") is working on possible solutions.  The second problem is radioactive waste disposal.  Finding appropriate disposal sites is bound to stir up local populations, whilst methods of disposal are heavily scrutinised and unlikely to yield results in the near future.

• Safety Risks - accidents at power plants can be catastrophic although they do not occur often.  Studies in the UK and US have shown that the likelihood of someone living next to a nuclear power plant dying from the accidental release of radioactivity is less than one in a million.  Nevertheless, in order to minimise the risks of accidents occuring, plants should be built according to strict standards, under supervision of the appropriate regulatory bodies and operated under constant monitoring. 

• Political Risks - Governments are under pressure from several lobbying groups, each with its own views on nuclear energy.  World events also greatly influence government policies on nuclear power.  Prior to 1973, oil was a cheap and stable source of energy, but it is no longer perceived this way after the oil shock, making nuclear energy a more acceptable choice for future energy policies. 

• Economic Risks - Nuclear energy, like all energy sources does not strictly abide by economic analyses and cost forecasts.  However, economic calculations can help in improving judgments by giving different scenarios and calculating based on varied assumptions.  The two principal economic factors to be accounted for are capital cost and project time.  These vary from country to country, depending on uncertainties and relative variables.  The sheer costs involved have been an overriding reason for the large role played by governments in nuclear power.