"After decades in the doghouse because of environmental, safety and cost concerns, nuclear power is enjoying a renaissance of expectations," said Pascal Colombani, chairman of the Atomic Energy Commission at the four-yearly conference.

"Many countries now give prominence to it as a clean and efficient energy source and clearly the industry in bubbling with new hopes and plans," he added.

With the world's population expected to increase 50 percent to 9.3 billion in 2050 from 6.1 billion in 2001, energy is forecast to increase at the same pace.

As no single energy source can be sustainable by itself, nuclear power can contribute to creating a sustainable energy system, the industry says. Furthermore, nuclear power plants do not emit any greenhouse or acid rain gases and are protected from oil and gases price swings. They also reduce a country's dependence on imports of gas or electricity, a factor that led to Finland's decision to build a nuclear power plant.

"Security of supply and energy independence will become much more important issues in the decades ahead," said Jose Luis Gonzalez Martinez, chairman of the European Nuclear Council.

Nuclear power is the European Union's largest single energy source for power generation, illuminating every third light bulb at low operating costs as many existing nuclear power plants have already been paid for.

But many of Europe's nuclear plants will reach retirement age in the next 20 years, and with about 10 years to 12 years needed for the permit process, companies will have to take the decision to build new plant within the next five years, said Gert Maichel, chairman and chief executive of Germany's second biggest utility RWE Power .

Financial troubles at the UK's largest power generator and nuclear power British Enrgy PLC after losses due to a dramatic fall in power prices following the deregulation of the energy markets, should not be an obstacle to atomic investment, Maichel said.

Instead it highlighted the shortcomings of "special barriers to entry" imposed by states. "There lies the assumption that nuclear can not be produced cheaply enough to counter the downside of the electricity market. But you have to have the right conditions to give enough incentives to make nuclear happen," Maichel told reporters at a press conference.

"British Energy was burdened with a carbon tax in spite of fact that it does not produce any carbon. Governments should put aside these inconsistencies and make the playing field level so that nuclear gets its chances," Maichel said.

"We do not ask for subsidies but a level playing field," he added.

The CEA's, Colombini also said consistent energy regulation was also needed for investment in the capital intensive industry. "What is needed is stability as far as regulation is concerned. If at governmental level there is enough vision that a California situation does not happen, then nuclear (power) has more than its chance," Colombini said.