Although nuclear power plant construction continues at an active pace worldwide, Westinghouse’s declaration of bankruptcy is perhaps the latest indicator of the health of the U.S. nuclear industry and its considerable challenges. While China and Russia maintain vigorous new build programs both domestically and internationally, current reactor construction projects in the U.S. have suddenly been put in doubt, as the existing fleet faces growing economic pressures from low wholesale electricity prices. In such an environment, the U.S. may need to expand collaboration with its traditional civil nuclear partners, such as South Korea, to preserve its presence in the global market and reinforce strong international norms and standards in nuclear energy.
