TOKYO — February 19, 2025 — Anthropocene Institute Director of Data Science, Guido Núñez-Mujica, addressed attendees at the Asia Pacific Nuclear Energy Conference today, speaking about the unexplored economic benefits of nuclear power. 

He noted that concerns about waste management, safety, and regulatory challenges have dominated discussions about nuclear energy. While these are undoubtedly important, they have overshadowed a critical aspect of nuclear power: its immense positive economic and social potentials. Núñez-Mujica explained that it's time for us to shift the narrative and recognize nuclear energy as a viable power source and a force for economic growth, public health, and even tourism.

The Hidden Economic Value of Nuclear Energy

A well-documented but often overlooked fact is that nuclear energy saves lives. Between 1971 and 2009, 1.84 million premature deaths were prevented due to nuclear power replacing coal and natural gas plants. More recent estimates push this number closer to 2.5 million. Yet, these life-saving benefits are rarely factored into the economic assessment of nuclear power plants.

Consider the staggering health costs associated with coal-fired power generation. A study in Pennsylvania estimated that coal generates $28 million in health costs per terawatt-hour. In Ohio, a single coal plant was linked to over $4 billion in yearly health-related costs. If that plant were replaced with nuclear power, those billions of dollars in health costs would disappear. Yet, these savings are not reflected in nuclear's economic evaluations, leading to the continued misconception that nuclear energy is too expensive.

"We need to calculate the difference, quantify the human impact of that and assign a number to it and say, 'Our power plant has saved this many lives, has prevented this many illnesses, and has saved this many billions of dollars because it's going to be a number in the billions. Human lives matter. They have value," Núñez-Mujica said. 

Carbon Reduction and the Financial Windfall of Nuclear Energy

Nuclear power's role in reducing carbon emissions is another overlooked financial advantage, according to Núñez-Mujica. He noted that when Finland's Olkiluoto 3 reactor came online, coal consumption dropped by 80% in a single year. Carbon emissions plummeted by nearly 60%, translating to potential carbon credit revenue between $120 million and $290 million annually. "In 50 years of functioning, and now we know that a nuclear power plant can function 80 years or more, the plant could generate $8 billion or $6 billion depending on the yearly inflation or increase on the price of the carbon," he explained. 

He believes governments and industries must start treating nuclear energy as crucial in meeting climate targets. If carbon exchanges do not recognize nuclear power's contributions, the industry should push to create independent carbon trading systems that fairly value its role in emission reduction.

Price Stability and Energy Security

Núñez-Mujica explained that another significant benefit of nuclear energy is its ability to stabilize electricity prices. The volatility of fossil fuel prices, exacerbated by geopolitical conflicts such as Russia's invasion of Ukraine, causes unpredictable spikes in electricity costs. Nuclear energy provides a consistent and reliable energy source to mitigate these fluctuations.

Data from Finland shows that electricity prices skyrocketed when Olkiluoto 3 was temporarily shut down. When it came back online, prices dropped significantly—even turning negative sometimes. The economic impact of such price stabilization is enormous. If a nuclear plant can reduce electricity prices by just one cent per kilowatt-hour over 40 years, it could save consumers billions of dollars.

Nuclear-Powered Tourism and Innovation

Núñez-Mujica mentioned the potential for nuclear power facilities to attract tourism. "Why can't we build something around a nuclear power plant that's either for tourists this way, or it can be a water park or a natural preserve?" he asked. Facilities could integrate visitor centers, water parks, wildlife preserves, or even spa resorts that utilize waste heat from the plant. He noted that in Florida, the St. Lucie Nuclear Plant has become a sanctuary for manatees, attracting wildlife enthusiasts. Instead of being hidden from public view, nuclear power plants could be transformed into sources of local pride and economic development.

How Do We Unlock These Benefits?

For too long, nuclear advocates have been on the defensive, focusing on justifying nuclear energy rather than highlighting its positive contributions. It's time to shift the conversation.

• Quantify the Benefits: More research is needed to accurately measure nuclear power's economic contributions. From public health savings to carbon credit revenue, every dollar saved and every life protected should be factored into nuclear power's return on investment.

• Change the Narrative: Industry experts and advocates must communicate nuclear energy's benefits more effectively. It's not just about avoiding negatives like waste and accidents; it's about embracing nuclear's positive impact on society.

• Incentivize Carbon Credit Trading: Nuclear power's role in carbon reduction must be recognized in global carbon markets. If existing exchanges don't accommodate it, the nuclear industry should create its own.

• Embrace Public Engagement: Nuclear energy must be more transparent and accessible. From educational outreach to tourism-friendly facilities, the industry should work to build public trust and enthusiasm.

The Future is Nuclear—If We Make the Case

The world faces a climate crisis, energy instability, and economic uncertainty. Núñez-Mujica noted that nuclear energy offers a solution to all three, but only if its benefits are properly acknowledged and utilized. 

Concluded Núñez-Mujica, "We need to be proud of what we do. We need to be out there and say, 'Nuclear saves lives. Nuclear can reduce carbon in the air. We can make money out of it. We can make beautiful, fun things with it.'"