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Monday, 18 April 2011, 14:30 - 15:30 at UNU-IAS in Yokohama
A Lecture by
Energy Economist, Economy and Environment Group , Institute for Global Environmental Strategies ( IGES )
*Live webcasting of this event will be available here.
Mr. Bhattacharya speaks on the risks of nuclear energy
Photo: Makiko Arima/UNU-IAS
The conventional pricing mechanism used for electricity systematically hides huge investment and other safety risks which are embedded in the overall cost of production. Especially in the case of nuclear energy, safety risks are often ignored from the overall cost estimation which makes it cost competitive. Although consumers are often unaware of these risks, they present a large financial burden on the economy. Renewable energy investment can compensate for the risks associated with the total input costs; such costs being external volatilities of fossil fuel prices, capital costs, operating and maintenance costs, carbon costs and even safety precaution costs which can run into trillions of dollars. Japan could in theory obtain up to 9% of its electricity supply from green sources, as compared to the present 1.37%, based on the utilization of a portfolio risk-analysis evaluation. Explicit comparison of the monetary values of the investment risks of conventional and renewable energy sources shows that renewable energies have high market competitiveness. Based on the findings of our research, we recommend that, as a business objective, investors would benefit by focusing on electricity supply portfolio risk minimization instead of cost. This could also inherently increase the supply of renewable energy in the market and can obviously reduce the dependence on nuclear energy which proved to be unsafe and extremely damaging in the event of large scale natural disaster.
|14:30 - 14:35||Opening Remarks|
|Suneetha Subramanian, Research Fellow , UNU-IAS|
14:35 - 15:05
Renewable Energy as Substitute to Nuclear Energy Supply: A Strategic Policy Decision for Japan
|Anindya Bhattacharya, Energy Economist, IGES|
15:05 - 15:35
Discussion and Q&A
Audio and Video Podcasts of the Seminar
Opening Remarks by Prof. Govindan Parayil, Director of UNU-IAS and Vice-Rector of UNU and Dr. Suneetha Subramanian, Research Fellow , UNU-IAS
Anindya Bhattacharya is an Energy Economist at the Institute for Global Environmental Strategies in Japan. He has around 10 years of experience in the field of international energy policy and economics. His research interests are in the field of regulatory polices of power sector in Asia, international energy trading, renewable energy and climate change. He has been involved in various intergovernmental energy research and implementation projects funded by the international organizations in the Asia Pacific region. He is currently leading the research work on Indian energy policy in the context of Indian National Climate Change Action Plans in IGES. He has a bachelor's degree in Physics and an MBA in Public System Management from University of Calcutta, India and an MS degree in Applied Economics from West Virginia University, USA.
Registration is free and open to the public. For further information, please contact Makiko Arima at arima[at]ias.unu.edu or 045-221-2300.