Over 65 GW, or 23%, of the existing nuclear fleet in advanced economies could be retired by 2030, eroding the low‐carbon foundation for electricity supply provided by nuclear power and underlining the need for faster innovation of new generation reactors, the International Energy Agency has warned.

In its annual World Energy Outlook, redesigned this year as a “guidebook” for world leaders attending the forthcoming Cop26 climate summit in Glasgow, the IEA predicted that by 2040, about three‐quarters of the current nuclear fleet in advanced economies will exceed 50 years of operations, and this looks “very likely to lead to a wave of retirements”.

The agency said innovative nuclear power technologies, such as small modular reactors, could offer shorter construction and approval times for new capacity, as well as expanding opportunities for nuclear power beyond electricity, for example for heat and hydrogen production. However, innovation efforts need to be accelerated to improve their prospects.