The Economic and Regulatory Landscape of Nuclear Power: Implications for Malaysia

Abstract

As Malaysia reconsiders integrating nuclear power into its energy mix, this paper advances the national discourse by analysing the critical economic and regulatory dimensions of its development. Drawing on a comprehensive literature review and field interviews, the study first delineates the prevailing legal, policy, and administrative environment for energy projects. Within this context, it identifies specific market and operational challenges and risks pertinent to nuclear power and proposes eight mitigation strategies. These strategies are strategically linked with the Four Symbols (四象) of Chinese cosmology, presenting a comprehensive, interdependent, and balanced policy framework. The paper further examines the establishment of a robust and efficient regulatory framework for nuclear power, guided by international best practices. Based on this analysis, the study offers recommendations for Malaysia, encompassing areas such as market and operational risks, regulatory frameworks, public engagement and communication, geopolitical realities and strategic partnerships, crucial for navigating nuclear power integration amidst a dynamic energy transition.