Spain Under Pressure To Abort Nuclear Energy Phase-out [Barron's]
IBERDROLA SA S/ADR (IBDRY)
NASDAQ:AMEX Investor Relations:
iberdrola.com/shareholders-investors
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Source: Barrons
At the height of enthusiasm for nuclear power in the 1980s, Spain had eight nuclear plants providing 38 percent of its electricity. Now it has five, providing 20 percent of its power. Under the country's nuclear phase-out plans, agreed in 2019 under the government of Socialist Prime Minister Pedro Sanchez, these remaining plants will be closed over the next decade, as the country focuses instead on green energy sources such as solar and wind power. But as the planned closure of the country's oldest and most powerful atomic plant at Almaraz in western Spain in 2027-28 approaches, calls are growing for Spain to follow in the footsteps of other European countries that are reviving their nuclear power. The two reactors at Almaraz generate around seven percent of the total electricity produced in the European Union's fourth-largest economy. Spain's decision to close its plants "was adopted in a completely different industrial, geopolitical, social and economic context" and no long
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