Nuclear power became a hot topic this week as President Trump floated a plan to make Ukraine’s energy grid great again by bringing in US “electricity and utility expertise” to take over its plants.
Meanwhile, back at home, as artificial intelligence gobbles up ever more energy, the must-have accessory for major tech companies has become a nuclear power plant (it’s also behind the resurgence of Enron, but more on that later).
Once all the rage for companies pushing an ESG-agenda, so-called “clean energy” like woke windmills and solar panels are being scrapped en masse as big tech finally admits they are unreliable and can’t provide anywhere near enough power.
Microsoft has partnered with Constellation Energy to restart the infamous Three Mile Island nuclear plant – yes, site of a meltdown in 1979, but they’re taking over the site’s other reactor, decommissioned in 2019.
Meanwhile, Amazon, Google, and Meta are also investing in nuclear energy and Apple quietly updated its definition of “clean energy” to include nuclear power last year, broadening its perspective beyond underwhelming solar, wind, and hydroelectric sources.
“The big change is that tech companies went from leading a war on industrial electricity to realizing they desperately needed more electricity,” Mark Nelson, Founder & Managing Director at Radiant Energy Group told me.
“Tech companies spent a decade loudly claiming that they were powered solely by renewables, undercutting both the financial and cultural foundation for the nuclear energy they’ve suddenly realized they need.”
Nationwide the US has 54 commercial operating nuclear power plants in 28 states – although deep blue states have overwhelmingly caved to woke protesters and shut them down.
New York-based nuclear plant, Indian Point – which once provided 25% of the state’s energy – was closed following a campaign from environmentalists in 2021, while California is moving to close its sole nuclear plant, Diablo Canyon, this year.
However, the US must dramatically increase its energy output over the next few years if it’s going to keep up with AI’s demands, estimated to rise from consuming 4% of the country’s electricity to 12%, according to a McKinsey study.
Nuclear energy, when done right, provides a powerful, low-carbon and clean electricity source. The only worry is when things aren’t done correctly (see: Chernobyl or Fukushima) — but with today’s advanced technologies, the risks are less than ever.
While big tech companies are spearheading new investment to develop nuclear sites (previously, energy companies would go it alone), upstart companies seeing the potential dollar signs are also jockeying for a piece of the nuclear pie.
Perhaps the most bizarre? Enron. Yes, the former Texas electricity giant behind the largest accounting fraud of its time has risen from the ashes— and nuclear power is a big part of its comeback.
Enron’s new CEO, 28-year-old Connor Gaydos, gained fame as an internet troll by co-authoring the satirical book “Birds Aren’t Real,” which made the tongue-in-cheek claim all birds are actually government surveillance drones.
Given that, it is hard to know if he was being serious when he told me: “Enron is this young, fresh, innovative place for people to team up and come up with solutions to our biggest problems. And nuclear is the perfect place for us to start.
“The current structure is quickly failing—it’s no longer about whether it would be fun to come up with a solution; it’s a must.”
Sources at the company say he’s serious and the company has filed an application with Texas state regulators to start providing residents with energy. They also hired longtime energy executive Gregory Forego (previously at Constellation) to oversee their move into retail electricity, with plans to expand into northern parts of America over the next few years.
And if Elon Musk’s hypothesis that “the most entertaining outcome, especially if ironic, is most likely” holds true, maybe Enron has a real shot?
This story originally appeared on NYPost
