当地时间周五，美国总统特朗普签署了一系列行政命令，旨在放宽对核能的监管并加速核电建设。 行政令要求美国能源部在2030年前建造10座大型反应堆，同时升级现有的反应堆。 特朗普称，"核能是一个热门行业，将把它做得非常大。" 分析师称，特朗普总统预计将发布的指令将放宽反应堆审批，指示关键机构确定联邦土地以进行部署， 并简化核监管委员会下的当前监管路径。 智通财经APP获悉，行政令要求美国独立核监管委员会削减监管措施，加速审批新反应堆和核电站的许 可证。随着人工智能专用的数据中心和加密货币矿场接入电网，美国电力消费预计在2025年和2026年达 到历史新高，结束了近二十年的停滞局面。 行政令还旨在重振美国铀生产和浓缩业务，以应对激增的电力需求。受此影响，铀矿开采企业Uranium Energy(UEC.US)、Energy Fuels(UUUU.US)和Centrus Energy(LEU.US)股价涨幅介于19.6%至24.2%之间， 加拿大矿商Cameco(CCJ.US)上涨近10%。追踪广泛铀相关股票的Global X铀ETF(URA.US)涨幅超过 11.6%。核电公用事业公司星座能源(CEG.US)、Vi ...

Industry Investment Rating - The investment rating for the industry is "Strongly Outperform the Market" [6] Core Viewpoints - The report highlights that Trump is expected to sign an executive order to promote nuclear power, which includes measures to streamline safety approvals and significantly increase nuclear power generation capacity by 2050 [1][2] - The report indicates that the demand for uranium in the U.S. is projected to grow at a rate of 5.7%, with the U.S. accounting for approximately 26.86% of global uranium demand by 2024 [1][2] - The report suggests that the nuclear power command will lead to a significant increase in uranium demand, with estimates for 2030 ranging from 2.1 to 2.6 million tons and for 2050 between 6.4 to 8 million tons [2] Summary by Relevant Sections Investment Highlights - The executive order aims to reduce the environmental assessment period for nuclear plants from 7 years to 3 years and allows for the installation of new reactors at military bases [1] - The report notes that the current nuclear power generation in the U.S. is 100 gigawatts, with a target to increase this to 400 gigawatts by 2050 [1] Market Dynamics - The report emphasizes that the global uranium supply is expected to be in a long-term deficit, with 2022 production at approximately 50,000 tons and new mines being limited [2] - The anticipated increase in nuclear power demand may lead to preemptive stockpiling of nuclear fuel, exacerbating the supply-demand imbalance [2] Investment Recommendations - The report recommends focusing on companies such as China General Nuclear Power Group and Wanli Stone as potential investment opportunities in the nuclear sector [2]

1.基荷重要性提升，核电基荷地位愈发突出 电网正在呈现基荷短缺状态。从电源结构来看，由于新增电源中光伏、风电占主要部分，因此总电源装 机中风电、光伏为主的新能源比例正在逐步提升，火电、核电为代表的基荷电源占比正在逐渐下降。 核电是基荷能源，具有持续稳定电力供应的能力，可以有效缓解新能源波动对电网的冲击。核电与风光 等新能源互为补充、协同发展，可以有效支撑大规模新能源上网消纳，在构建以新能源为主体的新型电 力系统中发挥更大的作用。与风电、水电、太阳能等清洁能源相比，核电受到气候环境的制约和影响较 小，能够全天候满功率运行，对于电网更加友好，因此替代火电作为基荷电源最理想的便是核电。 近年，全球多个国家正在积极推动核电未来发展，重视核电在未来电力中的供应占比，核电在欧洲、美 国、日韩等发达地区和国家或已成为重点部署的电力种类。以英国和韩国为例，均部署核电占比提升相 关战略，英国目标在电力结构中所占的份额将从 15%提高到 25%，韩国在《长期电力供需基本计划 (2022—2036 年)》计划至 2036 年核电在总发电量占比增至 34.6%，成为最大电力来源。 摘要：核电具备"清洁、高效、稳定、相对可控"等属性， ...