Panellists at Session 2 of the Singapore Energy Summit
By Chua Shen Hwee
Much attention is given to renewable energy but nuclear power remains important because it addresses the key issues of energy security, energy dependence and climate change, Lady Barbara Judge, chairman emeritus of the UK Atomic Energy Authority, said during the second Singapore Energy Summit on Monday at Singapore International Energy Week 2015.
“Nothing has changed after the Fukushima incident, except that the action [on nuclear energy] has moved to Asia,” said Judge, referring to the meltdowns at the Japanese nuclear power plant after an earthquake and tsunami in 2011.
Klaus Schafer, a board member of E.ON, agreed that nuclear remains an important part of the energy mix and said Germany’s decision to phase out atomic power was unique. An important challenge, he said, is for nuclear energy to be commercially viable to compete with renewable sources and traditional fossil fuel generation.
Judge said she recognised that nuclear energy requires a great deal of public acceptance. Different kinds of nuclear projects were appropriate for different countries, she said, adding that new kinds of small-scale plants may be suitable for small countries such as Singapore.
Dependence on a single source of energy is not ideal for energy security, the panellists said.
Eric Luo, chief executive officer of China’s Shunfeng International Clean Energy, said renewable energy is expected to grow with lower capital requirements and financing costs.
“With capital costs reducing by about 10 times, solar energy does not need government subsidies and can be self-sustainable and compete with fossil fuels,” he said.
Gireesh Pradhan, chairman and chief executive of India’s Central Electricity Regulatory Commission, said while fossil fuels – especially coal – continue to play an important role in the near term, renewables are expected to gain importance in the medium and long term.
Dr. Mohamed Mostafa El-Khayat, acting vice chairman of Egypt’s New and Renewable Energy Authority, agreed and added that investment in research and technology and more reliable forecasting will better enable renewables to compete with today’s cheaper fossil fuels.
About Singapore International Energy Week (SIEW)
In its 8th edition, Singapore International Energy Week is the premier platform in Asia for energy insights, partnerships and dialogue, bringing together the world’s leading conferences, exhibitions and roundtables in one week and one location. SIEW enriches the global energy conversation by convening political, business, academic and energy industry thought-leaders to define and advance the world’s energy challenges, solutions and actions across the spectrum of oil and gas, clean and renewable energy, and energy infrastructure financing.
Please visit www.siew.gov.sg for more information.
About the Energy Market Authority
The Energy Market Authority (EMA) is a statutory board under Singapore’s Ministry of Trade and Industry. Our main goals are to ensure a reliable and secure energy supply, promote effective competition in the energy market and develop a dynamic energy sector in Singapore. Through our work, we seek to forge a progressive energy landscape for sustained growth.
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