France to Build New Nuclear Reactors

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French President Emmanuel Macron announced that France will build new nuclear reactors, as part of its plan to lessen its dependence on foreign energy supplies, keep prices under control, and meet global warming targets.

Purchasing power has topped concerns in opinion polls five months before the upcoming presidential elections, as energy prices rise, affecting the prices of goods. Macron's initiative is meant to keep prices "reasonable".

"We are going, for the first time in decades, to relaunch the construction of nuclear reactors in our country and continue to develop renewable energies," Macron said in a televised address to the nation.

Macron had announced a shift to small modular nuclear reactors on October 12, as part of his 5-year, €30 billion "France 2030" investment strategy. The shift is also meant to rival China and Russia, as these reactors are more adaptable for purposes other than energy production, and would allow it to win lucrative new markets.

Europe energy prices

Europe is currently grappling with increases in energy prices, prompting countries to plan ahead to avert problems in the future.

The UK is building the world's longest power transmission grid, relying on solar energy fields to be built in Morocco, while Germany already accelerated an exit scheme for nuclear reactors following the 2011 Fukushima nuclear disaster in Japan. 

The French government is expected to announce the construction of up to six new pressurized-water reactors within the coming weeks.

Early in his presidency, Macron pledged to reduce the nuclear footprint in France's energy sector from 75% to 50% by 2035.