Crimean conflict reminds Europe - diversification of power sources is a good plan

European nations who vowed to shut down their nuclear plants and turn to renewables or piped in natural gas to provide their energy needs, may be rethinking that decision as the conflict in Crimea unfolds.

Russia supplies Europe with 14% of their of natural gas consumption (source: Deutsche Bank) and being vulnerable to such a neighbor, who is at best unpredictable and at worst aggressive, is never good a good thing -- especially when you are counting on them to keep your lights on.

A country with a diversified power generation portfolio (i.e. coal, nuclear, gas and renewables) has the flexibility to respond to geo-political events with confidence, able to switch direction when required.

Even before this event, Germany felt the impact of reducing coal and nuclear generation with high electricity costs. They are now importing part of their energy needs from nuclear plants across the border in France.  

Ukraine relies on four Russian-built nuclear power plants (15 reactors) for almost half its electricity and fortunately for that country, they’ve kept them operating consistently during the crisis.  

Read more information here about how the conflict raises prospects for nuclear energy.