BRUSSELS, May 28, 2014 -- Westinghouse Electric Company, a leading voice for the nuclear industry in Europe and worldwide, welcomes the European Commission’s new “European Energy Security Strategy” setting out a series of concrete measures to strengthen Europe’s resilience and reduce its energy import dependency.

Westinghouse strongly supports a strategy to ensure diversity of supply sources and reduce dependency from particular fuels, energy supplies and routes in the long-term. By providing 29 percent of Europe’s primary energy production, without greenhouse gas emissions, nuclear energy is one of the main indigenous sources required to ensure Europe’s transition to an independent, low-carbon and competitive energy mix.

Westinghouse President for Europe, Middle East and Africa Yves Brachet said: “As a reliable base-load supply of emission-free electricity, nuclear power plants in the EU contribute significantly to our energy security. Given that the technology, the components, and the fuel needed for the reactors are all produced in the EU, nuclear energy clearly is an indigenous European energy source. Having been involved in the development of the European nuclear industry since the 1950s we are glad to see that the European Commission recognizes the importance of the sector.”

Regarding the contribution of nuclear energy to the EU’s energy security, Westinghouse underlines three key points:

1. Diversifying nuclear fuel supply to reduce dependence on a single provider.

Some EU member states are currently entirely dependent on nuclear fuel from a single supplier. For the EU to become more resilient, an overall diversified portfolio of fuel supply is needed for all plant operators.

For the production of nuclear the required uranium is readily and reliably available from a variety of countries, including Australia, Canada, Kazakhstan, South Africa, and the United States.

The EU has existing domestic capacity to produce nuclear fuel from imported uranium. Westinghouse is Europe’s leading supplier of nuclear fuel, services and automation and is the only fuel manufacturer for the different types of nuclear reactors (PWRs, BWRs, VVERs and AGRs), making Europe stronger when confronted to energy shocks.

2. Increasing the development of indigenous energy production.

Based on European technology and fuel that is manufactured in Europe, nuclear provides 29 percent of primary energy in the EU28 today, accounting for the largest share of domestic production. Nuclear energy has the added benefit that it is essentially available 24 hours per day, seven days per week, and 365 days per year making it a reliable choice for Europe.

There are 132 operating nuclear power plants in the EU, over 60 percent of which are based on Westinghouse technology.

3. Ensuring stable and affordable energy prices

Due to the low variable costs (such as fuel, operations and maintenance) nuclear energy is one of the most economically predictable, stable and competitive source of electricity in the EU. Data from the International Energy Agency show that nuclear energy can be produced at lowest cost per kWh, thereby keeping energy affordable for citizens and companies in the EU.

With consumers across Europe facing increasingly high electricity prices, and wholesale electricity prices and CO2 prices being low, Europe needs an integrated energy and climate approach which combines economic growth, de-carbonization objectives and energy security.

Westinghouse Electric Company, a group company of Toshiba Corporation (TKY:6502), is the world's pioneering nuclear energy company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Westinghouse supplied the world's first pressurized water reactor in 1957 in Shippingport, Pa., U.S. Today, Westinghouse technology is the basis for approximately one-half of the world's operating nuclear plants, including more than 50 percent of those in Europe.

Contact: Hans Korteweg, Communications & Government Affairs Manager
Westinghouse Europe, Middle East & Africa
+32 (0)2 645-7162 (office) +32 (0)479-75-13-60 (mobile)
kortewh@westinghouse.com