A top nuclear power industry lawyer in Britain said that international trade in nuclear fuel necessary to keep the country's nuclear power plants operating could come to a standstill if the country severs ties with the Euratom treaty.
Britain has said it would exit the Euratom treaty with its withdrawal from the European Union in a process that has been called the Brexit plan, which refers to a British exit from the EU. The Euratom treaty covers international cooperation with regards to transport and use of nuclear fuel and materials related to nuclear fuel.
“Unlike other arrangements, if we don't get this right, business stops. There will be no trade,” Prospect Law attorney Robert Cowen, who specializes in nuclear energy, told Members of Parliament on Monday.
“If we can't arrive at safeguards and other principles that allow compliance (with international safety regulations) to be demonstrated, no nuclear trade will be able to continue,” The Guardian quoted Cowen as saying.
Cowen said new deals on international cooperation must be in place within two years or the industry in Britain will be hobbled by the lack of a fuel supply for its nuclear power plants.
Cowen's take on the situation was supported by others. Tom Greatrex, chief executive officer of the Nuclear Industry Association in Britain said there was “a lot to be done,” to put new agreements in place on the scale necessary to keep Britain in the loop regarding international trade.
Energy Minister Jesse Norman also said that the country had its back to the wall considering the amount of time they had to replace Euratom's arrangements with new accords.
“We take this extremely seriously and are devoting serious resources,” to the effort of keeping international trade viable for the industry, Norman said.