nuclear-news

First, on March 28, the Bulgarian government announced it was cancelling the Belene nuclear power plant, construction of which began way back in 1981. This brings to a successful close10 years of resistance to this bad idea. There were death threats against one of the key activists, Albena Simeonova, legal actions, and the involvement of hundreds of activists, volunteers, citizens, experts, politicians and civil servants.

The Bulgarian project finally collapsed over the issue of its cost. The Russian company Rosatom, the plant’s builders, said Belene would cost €6.3 billion. The government said it was unwilling to pay more than €5 bn and so, unable to attract western investment, it pulled the plug.

The very next day the UK’s plans for its own nuclear “renaissance” were hit by the German utilities RWE and E.ON pulling out of the consortium planning to build two new nuclear power plants at Oldbury and Wylfa. The companies expressed “doubts over financing the projects and costs associated with the German government’s decision to abandon nuclear power in the wake of the Fukushima disaster.” This follows French energy giant EDF cancelling another nuclear project just two weeks ago.

Belene and the RWE/E.ON decisions are yet two more examples of how the economics of nuclear power are broken. Since the costs of building new reactors are massive, private investors aren’t interested in the risks.

The long list of nuclear reactor projects cancelled due to lack of financing and shoddy economics just got longer. It has been this way for decades. Even back in the 1970s and 1980s – supposedly the boom years for nuclear power – “half of planned nuclear reactors had to be abandoned or cancelled due to massive cost overruns”…..

As Germany is showing, we don’t need to wait to increase renewable energy.  Solar and wind power are increasing in their efficiency while their costs are falling every day. And, unlike nuclear, they are attracting investment and creating jobs.  http://www.greenpeace.org/international/en/news/Blogs/nuclear-reaction/double-trouble-for-nuclear-power-uk-and-bulga/blog/39858/