Italy said "no" to nuclear energy

Italy said "no" to nuclear energy

Italy said "no" to nuclear energy at the national referendum on 12-13 June 2011. Thus, the Italians voted for broader use of renewable energy sources. Against the intention of the Italian government to revive the national nuclear energy program voted over 90% of those, who came to the polls on Sunday.

It is worth noting that the question of using nuclear energy in the Italian economy is not new. In 1987 at the national referendum the Italians also voted for banning nuclear power plants in Italy. Then the referendum was held a year after the Chernobyl disaster.

In 2010 Italy provided 22% of the total electricity needs from renewable sources. But the lion's share of the energy was accounted for hydrocarbons. Italian authorities intended to receive 25% of the country’s energy needs from its own nuclear power plants by 2030. However, the referendum will force the Italian government to increase the share of alternative energy sources.

The market has already reacted to the results of the referendum in Italy. Nearly all Italian "green" energy companies’ shares rose in price. According to www.pv-magazine.com, shares of Enel Green Power increased by 2.9%, KR Energy - by 14%, Kerself - by 11.6% and Pramac - by 11.5%.

It is worth noting that the Italian prime minister, Silvio Berlusconi, on the eve of the referendum said that the country will likely have to refuse from idea of building nuclear power plants.

Alternative energy has actively being developed in Italy in recent years. Today its core consists of solar and wind power. The share of wind power in the total energy production in Italy is about 5%.

Ilya Kalachev

Date: 18/06/2011