Nuclear energy in an era of total uncertainty: The global market crisis and Serbia's strategy

The world economy has entered a period of tectonic shifts, characterized by a state that can be defined as «total uncertainty». This state differs from classical economic cycles in that it undermines the very fundamental foundations on which long-term forecasts, investment models, and geopolitical strategies had been built for decades.

In nuclear energy — the sector with the longest investment cycles (centuries pass from idea to decommissioning) — this crisis of uncertainty is felt most acutely. Not only the techno-economic indicators or the political consequences of developing peaceful nuclear energy are subject to a categorical reconsideration, but also the very foundations for its existence within the framework of national energy security.

The second blow to the foundations of nuclear energy is dealt by the economic model. The world has entered an era of high inflation, volatility in resource prices, and disruption of supply chains.