Uranium futures rose above $53 per pound in September, the highest since mid-May as the uncertainty regarding energy supplies across the world drove governments to double down in alternative energy sources.
Japanese Prime Minister Fumio Kishida ordered the development of new nuclear reactors to strengthen the country’s energy security and lower carbon emissions.
On top of that, the Japanese Nuclear Regulation Authority has approved 17 existing reactors to be reactivated, while six reactors have already restarted operations. The move signals a historical pivot as the country regains confidence in nuclear energy following the 2010 Fukushima power plant meltdown.
Further, California Governor Newsom proposed extending a $1.4 billion loan to extend the life of the Diablo Canyon power plant until 2025, while Swiss politicians launched a petition to revise country’s nuclear energy policy and avoid power plant shutdowns.
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