As 2025 draws to a close, one conclusion stands out with unusual clarity: nuclear energy has moved from “important” to strategically unavoidable. This shift has not been driven by ideology or narrative momentum, but by the convergence of electricity demand, system reliability, and capital discipline. These forces have reshaped the global energy conversation and set the tone for 2026.
1. Nuclear generation hit new records - and locked In momentum
Global nuclear generation set an all‑time high in 2024 and is on track to exceed it again in 2025. This is not a rebound but a structural shift, enabled by stronger performance across existing fleets, renewed and sustained reinvestment in operating assets, and new reactors entering service. Nuclear is re‑establishing itself as a growth engine rather than a legacy stabiliser.
2. Life extension became a strategic imperative
Life extension moved from a technical exercise to a capital‑allocation priority. Across markets, operators advanced long‑term operation programmes, fuel and materials optimisation, and regulatory‑aligned investment strategies. LTO is now recognised as the fastest and lowest‑risk route to securing firm, low‑carbon electricity this decade, and it remains the essential bridge to future new build.
3. Sector Integration: Data, AI & Energy
AI‑driven electricity demand became structural in 2025, reshaping how systems are planned and how reliability is valued. Nuclear is increasingly viewed as foundational infrastructure for digital economies, a reliability anchor for data‑intensive ecosystems, and a hedge against grid volatility and energy scarcity.
This year also saw the visible engagement of Big Tech and private capital, reflecting a growing recognition that firm power is becoming a strategic constraint. While data centres are not the sole driver of nuclear decisions, their rapid load growth is increasingly shaping planning assumptions and strengthening the case for restarts, life extensions, and future new build in several markets.
Electricity is now recognised as a bottleneck, and nuclear is increasingly recognised as part of the solution. Energy strategy and digital strategy are converging far faster than many expected, placing nuclear at the centre of that intersection.
4. Grid stress become visible - with firm electricity become non-negotiable
This year exposed levels of grid strain that could no longer be dismissed as isolated events. What began as a single evening on the Spanish grid became a pattern across multiple regions, marked by tight reserve margins, rising curtailment of variable renewables, increased reliance on emergency generation, and growing concerns about seasonal adequacy. The conversation shifted from “How much renewable capacity can we add?” to “How much firm capacity do we actually have?” Nuclear’s value proposition sharpened accordingly.
5. Fuel and Supply Chains Moved to the Forefront
A major realisation - particularly for stakeholders outside the sector - was that nuclear cannot scale without secure fuel and resilient supply chains. This drove heightened focus on fuel security and advanced fuels, domestic and allied manufacturing capacity, and the broader ecosystem required for deployment. The “picks and shovels” of nuclear - fuel services, specialised manufacturing, and qualified suppliers - have become some of the most strategically important assets in the sector.
6. Innovation Accelerated Across the Sector
Innovation advanced across the entire nuclear value chain. Throughout 2025, momentum grew around advanced reactors and fuels, new materials and construction methods, robotics and remote systems for inspection and maintenance, early deployment of AI‑assisted workflows to streamline regulatory filings, and digital‑twin technologies that enhance oversight, workforce capability, and plant performance. The trend is unmistakable: this is not about betting on a single technology, but about re‑architecting how nuclear is delivered, regulated, and operated.
7. Nuclear Demonstrated It Is Investable
Perhaps the most consequential shift of the year was the alignment across capital, policy, and industry. Private capital deepened its presence across the value chain. The World Bank reopened pathways for nuclear financing. A global coalition reaffirmed the ambition to triple nuclear capacity by 2050. Roughly 70 reactors are now under construction worldwide. India authorised private‑sector participation, marking a structural shift with global implications. The debate has moved on; the question is no longer whether nuclear fits capital markets, but how effectively we execute from here.
What shifted. What endured. Why 2026 matters.
What shifted was the recognition - across markets, policymakers, investors, and now the digital economy - that firm, low‑carbon electricity is not optional infrastructure but foundational infrastructure. What endured was the sector’s resilience, which not only confirmed nuclear’s relevance but also revealed how quickly sentiment, strategy, and investment can move when fundamentals align.
Looking ahead, 2026 will not be defined by debate but by execution. The momentum is real, the conditions are aligned, and expectations are rising. The task now is to convert this strategic clarity into delivery, scale, and long‑term value.
Wishing you and your families a joyful holiday season and a restorative break.
Ruan Steyn