FAST FIVE: Uranium Stocks Rise As German Minister Sees Nuclear Power Plant Extension Increasingly Likely

Published by on

Uranium Stocks Rise As German Minister Sees Nuclear Power Plant Extension Increasingly Likely Uranium stocks advanced on Tuesday after Germany's economy minister expects to extend the lifespan of the country's last two nuclear power plants to prevent the risks of rolling blackouts in Europe's largest economy this winter.  “We are already in a place where the stress test says: It may be necessary to use nuclear power plants for grid security,” Economy Minister Robert Habeck said at a climate conference in Berlin, which Reuters quoted.  insert screaming_greta.jpg here – zerohedge (@zerohedge) September 27, 2022 Earlier this month, Chancellor Olaf Scholz's ruling coalition approved measures to extend two of the country's three remaining nuclear power plants through the end of this year and into next if needed, reversing planned shutdowns of the plants.  The reversal comes as the historic energy crisis in Europe worsens by the week.

Leaks in the Nord Stream pipelines may indicate Nord Stream 1 is indefinitely shuttered.  Habeck said life extensions of the two nuclear plants are to reduce grid bottlenecks.  “It's not the amount of electricity, but the distribution of power in the grid,” he said, adding he was concerned by the decline of nuclear power from France.  When asked if lifespan extensions of the two German nuclear plants looked possible, Habeck said: “It is certainly not less likely.” Habeck's comments generated bullish sentiment across uranium stocks.

Global X Uranium ETF (URA) rose 5%, led by Western Uranium & Vanadium, Isoenergy, Energy Fuels, Global Atomic, Uranium Energy, and Forsys.  Support for nuclear continues to gain momentum.

And in Germany's case, it could help with grid stability ahead of what's expected to be a cold and dark winter.  Remember we outlined in 2020: Buy Uranium: Is This The Beginning Of The Next ESG Craze.  G7Hedge Tue, 09/27/2022 – 11:41.

Categories: ZH