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MEAG creating three subsidiaries for Vogtle nuclear funding

The arguments in the complaint, along with general opposition to nuclear plants, include claims that Georgia Power does not really need the federal funding or the project, as well as that the project is not needed since some of the electricity would be sold outside the state as part of the MEAG proposals.

Ray Lightner 

http://www.griffindailynews.com/news/article_d639dc1e-910b-11e3-bcdd-001a4bcf6878.html

The Municipal Electric Authority of Georgia (MEAG) is asking the Nuclear Regulatory Commission to allow it to create up to three wholly owned subsidiaries to help MEAG fund the expansion of the Vogtle nuclear power plant.

The expansion, adding reactors 3 and 4, has already been approved, with MEAG as one of the licensed co-owners, along with Southern Nuclear Operating Company, Georgia Power Company, Oglethorpe Power Corporation and the City of Dalton. MEAG owns 22.7 percent, Oglethorp Power owns 30 percent, City of Dalton owns 1.6 percent and Georgia Power owns the rest.

Southern Nuclear Operating Company operates Vogtle and is making the request, which would allow MEAG to create the three subsidiaries, dividing up MEAG’s 22.7 percent share of the electricity generated by the two new reactors.

The cities of Griffin, Barnesville, Thomaston and Jackson are among the 48 cities and one county across the state that make up MEAG. The request is being made “To facilitate proposed additional, independent financing for one or more of these projects, some or all of MEAG Power’s 22.7 percent undivided ownership interest in VEGP (Vogtle Electric Generating Plant) Units 3 and 4 must be transferred to one or more wholly-owned special purpose entities,” each to still be owned by MEAG, and each named after the already approved projects, M, J and P.

According MEAG Senior Project Manager Paul Warfel, Griffin, Barnesville and Thomaston are part of Projects M, J and P and Jackson is a part of Projects J and P only. Warfel said the request “makes a technical change in the ownership structure for MEAG, but functionally, does not change the agreement that was previously in place with our participants.”

For each of the three projects, MEAG Power has entered into long term “cost passthrough” contracts with the counterparties or offtakers, who are entitled to their proportionate share of any electricity produced by Vogtle Units 3 and 4 and are obligated to pay for their proportionate share of the costs of constructing and operating those units, including funding for decommissioning.

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February 8, 2014 Posted by | Uncategorized | Leave a comment

OP-ED: The Trillion Dollar Road to Armageddon

The US should stop insisting that the non-nuclear nations trust us and do as we say and not do as we do. We need to lead by example and seek the security of a world without nuclear weapons. The US should attend the Mexico meeting and give leadership to the growing international movement to negotiate a treaty to eliminate these weapons once and for all.

By Ira Helfand and Robert Dodge, MD

http://www.huntingtonnews.net/81814

 

In March of last year (2013) the Norwegian government convened a gathering of 129 nations in Oslo for a two-day Conference on the Humanitarian Consequences of Nuclear War.

This week there will be a follow-up meeting in Mexico to further examine the scientific data now available documenting the devastating global impact of even a very limited use of these weapons.

The United States and the other four permanent members of the UN Security Council [United Kingdom, France, China, Russian Federation], who together possess 98% of the world’s nuclear weapons, boycotted the Oslo meeting and have not yet indicated if they will attend the meeting in Mexico.  In a joint statement issued before the Oslo meeting, the P5, as they are called, said that a conference that examined what will actually happen if nuclear weapons are used would somehow “distract” them from their efforts to reduce the nuclear danger.

The administration has expressed particular concern that these conferences will somehow endanger the 1968 Non Proliferation Treaty, which makes it illegal for states which do not possess nuclear weapons to build them.  But Article VI of the NPT also requires the existing nuclear powers to engage in good faith negotiations to eliminate their own nuclear arsenals.

A recent statement by Defense Secretary Chuck Hagel sheds light on the real threat to the NPT. Speaking after a tour of nuclear weapons facilities in Albuquerque earlier this month, Hagel called for the US to ‘upgrade’ its nuclear warheads and the submarines, bombers and missiles that deliver them.
Meanwhile, the Russians are in the middle of a similar major upgrade of their nuclear forces.The Congressional Budget Office estimated in late December these plans would cost $355 billion over the next decade. The Center for Nonproliferation Studies predicts the new weapons will cost $1 trillion over 30 years.

So while asking the non-nuclear weapons states to respect the NPT and refrain from building nuclear weapons, the two main nuclear powers are ignoring their responsibilities under the treaty and expending vast sums of money they cannot afford to make sure they have thousands of nuclear weapons for the foreseeable future.

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February 8, 2014 Posted by | Uncategorized | Leave a comment

Picture – Fukushima polydactyl case reported in Japan – A radiation effect?

神風カムイ(@暗黒夜考)

@Kamikaze_Kamui

独り言

今、フクシマ原発周辺や関東を中心に「多指症」という奇形を持つこどもが結構な数確認されていると聞こえてきている。 事故後3~5年で健康被害が顕著になったチェルノブイリの例でみれば、日本でも地獄絵さながらの様相になるだろう。https://twitter.com/Kamikaze_Kamui/status/427057117757853696/photo/1

The link is in Japanese but the picture shows a young baby with polydactyl. I have been searching for polydactyl pictures as evidence to health effects from radiation. I asked for pictures with a local newspaper dated underneath, but this does not meet that simple criteria as it is meant for personal discussion in Fukushima

Here is a bad translation of the text

Monologue

Now, you have heard a child with a malformation called “polydactyly” around the Kanto and Fukushima nuclear power plant around to have been quite a few confirmation. If you look at the example of Chernobyl health hazards became prominent in 3-5 years after the accident, is going to be aspects of the picture just like hell in Japan.

poly

And more on the numbers involved here..

Fukushima: 100 babies with polydactyly are on the waiting list for operation 福島在住の夫婦、震災以降「多指症」の赤ちゃん誕生。受診すると「多指症の子の手術がいっぱいで100人待

Extract
“….When a parent whose baby had been born with polydactyly contacted Fukushima Medical University to ask for an operation for their child, they were told that they were very busy operating on babies with the same condition and had more than a hundred on their waiting list. They were also told they would have to wait another one or two years before the operation could be performed, as the bones in the fingers and hands need to be well developed….”

facebook 西片 嘉奈子91823:28

手術をしてもらおうと福島県立医科大学を受診したら
「今、多指症の子どもの手術がいっぱいで、100人近い順番待ちなんです」と、言われたそう。結局のところ骨が形成されてきてからじゃないと手術出来ないから、後1~2年待ってからの手術になると。

https://nuclear-news.net/2013/09/29/fukushima-100-babies-with-polydactyly-are-on-the-waiting-list-for-operation-%e7%a6%8f%e5%b3%b6%e5%9c%a8%e4%bd%8f%e3%81%ae%e5%a4%ab%e5%a9%a6%e3%80%81%e9%9c%87%e7%81%bd%e4%bb%a5%e9%99%8d%e3%80%8c/

 

February 8, 2014 Posted by | Uncategorized | Leave a comment

Is the UK`s Nuclear backed pension bubble about to burst? – New scientific research may be the pin that pricks!

Pension panic in the city of London! But don’t worry because they are set to rip off the UK Tax payers!

Op Ed

By Arclight2011

posted to nuclear-news.net

8 February 2014

Geraldine Thomas and Richard Wakeford gave us reassurances that there would be no health effects to the Fukushima Daichi nuclear accident but Geraldine continues to deny a link concerning the recent spate of thyroid cancers concerning the children of Fukushima. Lady Barbara Judge urges a nuclear restart in Japan as she continues to head the UK`s year or so involvement in decommissioning the Daichi nuclear complex.

RW at Fukushima 2

geraldine.thomas

The UK Science media centre was called in by DECC UK government to “manage” the disaster and set up a Japanese Science media centre run by th e UK`s SMC employed psychologist. He used very biased scientists based in Australia using very biased science professionals to play down the Fukushma health and ecology effects.

Strangely. Ian Fairlie uses Richard Wakefords research to prove a noticeable increase while Richard Wakeford says that under 100 mSv/y as a total dose is OK for adults and children alike “has no statistical significance”.

A Research team uses Geraldine Thomas`s own research at the Chernobyl Tissue bank to prove a genetic link to thyroid cancer and ionising radiation whilst she is telling the world via the BBC and other media outlets that the thyroid cancers cant be because of the nuclear accident because the original doses were too low.

Meanwhile, Prof Suzuki (New head of the secretive and sinister Fukushima “Medical” “Hospital”) now is saying they can not prove a link to radiation and thyroid cancer.

Needless to say, Imperial College University has much to gain in funding after Geraldines visit to Fukushima in Sept 2011 (to sell the Chernobyl tissue bank services to the Japanese health establishment) (fronted at the time by the renowned liar Prof Yamashita (now replace by Prof Suzuki who also lies). Shockingly, Geraldine intimated that she could destroy the samples because she only uses the data .. In the Fukushima symposium (still on video on the web) she actually said that she could destroy the samples and later in correspondence she claimed in correspondence with me that she meant that in context to mean that no useful data could come from them after her analysis. However, the findings of a thyroid cancer radiation link via genetic testing means that she was wrong on that point! And the protesting Fukushima victims outside the 2011 Fukushima Symposium were right to protest.

Lady Barbara Thomas JudgeThe UK media has mentioned that “Lady Barbara Judge will save our pensions” in reference to the blinkered investment in nuclear that ignored all alternatives like the aluminium fuel cell (UK inventor ) solar, wind etc. Instead only large energy use solutions were allowed with little or no investment in any other options

So, how deep is the nuclear/pension bubble you might wonder? I think that ALL the smart money went into it in the three years after the 2008 financial crash. That’s why there has been a rallying of nuclear PR. Instead of showing respect for the nuclear victims they are going to attack them like the experience found in the Semey region of Kazahkstan where radiation victims carry genetic passports and are discouraged from having children. This issue was not discussed on Pandoras Promise as the makers and supporters of this film are likely seeing their pensions threatened.

This tie between the financial sector to the nuclear sector are tight because of this bad investment. But not to worry the big 6 insurance giants in the UK came up with a plan to cover their bad assets. They got the government to invest 28 billion pounds sterling into “nuclear research”, a possibly risky bet but the nuclear companies like Rolls Royce stand to get a lot of this money as are suitable pro nuclear universities and towns in the UK. Then, the Insurance corporations invest in a loan to the government of 25 Billion pounds sterling in infrastructure investment that will see them see a profit and hopefully secure everyone’s private pensions. Of course the tax payer gets the bill but the big pension and investment corporations get out of a loss making situation. The bubble sets to burst on a beleaguered UK Tax payer.text-my-money-2

Keeping this brief I will just say that the UK sent a cricket team to near the Daichi wrecked nuclear site a day before the Japanese were “awarded” the Olympics, they have helped cover up the scope of the disaster using “charities” and the likes of the BBC, one of whose directors used to work for EdF. And AREVA, EdFs sister company has extensive nuclear decommissioning contracts at Daichi as well as the UK companies and universities.

the UK like the USA also relies on the Japanese for investment and its co-operation with the nuclear fuel cycle and likely nuclear armaments too! I suspect that the worlds pensions are tied to this technology. The big money in nuclear is now in fuel rod reprocessing with the profits expected to be double the profits of the operating nuclear power plant. Are these MOX fuel rods causing the excess wear on the French nuclear fleet? or are they burning the rods for longer?

As the real truth comes out concerning the health damage caused by this dangerous technology, comes to light and more people are able to trace the cause of their cancers/illness and nuclear corporations are sued out of existence, who will be left “holding the empty pension money bag”?

February 8, 2014 Posted by | Uncategorized | 7 Comments

Thyroid cancer cases increase among “young people” in Fukushima

The 75 young individuals with confirmed or suspected thyroid gland cancer, including one who was later diagnosed with a benign tumor, averaged 14.7 years in age when the Great East Japan Earthquake and tsunami triggered the meltdowns at the Fukushima No. 1 nuclear power plant in March 2011.

http://ajw.asahi.com/article/0311disaster/fukushima/AJ201402080047

February 08, 2014

THE ASAHI SHIMBUN

The number of young people in Fukushima Prefecture who have been diagnosed with definitive or suspected thyroid gland cancer, which is often associated with radiation exposure, has risen to 75, prefectural officials said Feb. 7.

That is 16 more than in November, when figures were last released. The number of definitive cases rose by seven, from 26.

The 75 are among 254,000 individuals for whom results of thyroid gland tests have been made available to date.

Only residents of Fukushima Prefecture who were aged 18 or under at the time of the 2011 Fukushima nuclear disaster are eligible to receive the thyroid gland tests administered by the prefectural government.

The latest figures include the results from 28,000 more individuals compared to the numbers released in November.

Medical and government officials in Fukushima say they do not believe the cases of thyroid gland cancer diagnosed or suspected in the 75 young people in the prefecture are linked to the 2011 nuclear accident.

Hokuto Hoshi, who chairs a panel that discusses matters related to the prefectural survey on the health impact from radiation on Fukushima’s residents, referred to the fact that cases of thyroid gland cancer in children who lived near Chernobyl only began to increase four to five years after the 1986 nuclear accident.

Doctors at Fukushima Medical University said they will start analyzing genes in cancerous thyroid glands surgically removed from children to try to ascertain if radiation played a role in the pathology of their cancer.

“We hope to look for unknown types of gene mutations, other than those known to be associated with the generation of thyroid gland cancer, to study if they could serve as markers for determining if the cancers were induced by radiation,” said Shinichi Suzuki, a professor of thyroid gland surgery with the university.

Even if exposure to radiation does increase the occurrence of thyroid gland cancer, it will take years before such a relationship can be established, whereas no method is currently available to determine whether individual cases of thyroid gland cancer were induced by radiation, Suzuki added.

The 75 young individuals with confirmed or suspected thyroid gland cancer, including one who was later diagnosed with a benign tumor, averaged 14.7 years in age when the Great East Japan Earthquake and tsunami triggered the meltdowns at the Fukushima No. 1 nuclear power plant in March 2011.

(This article was written by Teruhiko Nose and Yuri Oiwa.)

ARCLIGHT NOTE

Highlight bits by Arlight2011 (on the Japan Times article they referred to the children as “persons” and here in this article they are “individuals“, “Residents”  and even”young people“. Is it just me or are these media companies trying to NOT say the word “children” ? At least in this article we see the word at the bottom of the article connected to the word “Fukushima”  (well done Asahi)…. Also there are genetic test to check for ionising radiation but they were stopped by the Japanese government about 6 months ago on the grounds that illegitimate children might be found!The Japanese government wanted to have an “Ethics” debate about it.. the only problem was that the blood test has to be done within three years and now we are coming up to the three year anniversary the Ethics debate still remains silent and on the shelf.. But there are other avenues like this one;

https://nuclear-news.net/2014/02/07/courts-will-be-able-to-prove-radiation-as-cancer-causer-by-dna-evidence/

Also, on this weeks “Nuclear Hotseat” is mentioned that there was a study done on the Chernobyl Tissue Bank samples that also was able to help clarify relevant cancer statistics to the damage that Chernobyl caused in surrounding countries. So what is Dr Suzuki (above) meaning when he says no test available? mitigating future litigation perhaps? On the downside Asahi hasn’t clarified that the 75 children figure is only up to December or “end of last year” as has been reported.. this skews the figures in favour of the nuclear industry imo)

February 8, 2014 Posted by | Uncategorized | Leave a comment

Turkey – FARMERS PROTESTS MINISTER OF DEVELOMENT – “only the state can make the decision but you are entitled to your opinions” – Yilmaz says

Development Minister Cevdet Yilmaz attended the meeting in Sinop, was greeted by opponents of the nuclear power plants.

Development Minister Cevdet Yilmaz attended the meeting in Sinop, was faced by opponents of the planned nuclear power plants. Stating that they do not want nuclear power plant in Sinop. Groups voicing their response, to Minister Yilmaz’s speech did get much time.
Development Minister Cevdet Yilmaz, the governor’s office and the North Anatolian Development Agency (KUZKA) organized by the Sinop 1 Development attended the Workshop.

Minister Yilmaz, a group in the hall during the speech a group in the hall stood up and challenged the plans for new nuclear power plants. Before responding he listned to them.

“we do not want nuclear power plant in Sinop,”

he tried to calm the screaming group. The Group of Ministers has continued the conversations which were interupted regularly. After about 5 minutes the  group left the hall.

So, Yilmaz responded

“No one, society in general about no right to speak. Different segments of the differences of opinion can be but there is only one society in general, talk about not entitled to. Every developed country has nuclear power plants.

It is the best thing for the state. Tourism and nuclear  at the same time are possible. nuclear will do no harm to either Sinop or   Sarikum nature reserve,”he said.
A Bad translation of the full article here, I have found no other english translations of this event. The title seems to represent what he was saying but i am open to corrections.… arclight2011

http://www.habermonitor.com/en/haber/detay/opponents-of-nuclear-power-plants-the-ministe/285200/

VIDEO HERE

February 8, 2014 Posted by | Uncategorized | Leave a comment

Deformed fruits and vegetables discovered near Fukushima – is this for real?

We have seen some evidence of increased mutation rates in plants and barn swallows in Fukushima, but we have not had the funding to do the sort of rigorous science that is necessary to examine such questions in a convincing manner” says Timothy Mousseau, a biology professor at the University of South Carolina (USC) who is currently studying fauna near Fukushima.

“The vegetable photos are suggestive but, at present, are only anecdotal. Follow-up studies need to be conducted by qualified researchers to verify the validity of these observations.”

http://www.naturalnews.com/041331_Fukushima_radioactive_contamination_fruit_mutations.html
(NaturalNews) New images have surfaced depicting what appears to be some of the more heinous radioactive consequences of the 2011 Fukushima Daiichi nuclear disaster. A slide show recently posted by MSN.com reveals deformed tomatoes with bulbous growth defects; cucumbers with unsightly leaves growing out of their flesh; disturbingly misshapen eggplants; peaches with elephantiasis-like outgrowths; unnaturally massive heads of cabbage; and Siamese corn that splits off into two cobs, all the consequences, say some, of Fukushima’s ongoing nuclear fallout.

The pictures were allegedly first collected by a Korean news outlet from people living within close proximity to the shuttered Fukushima plant. All sorts of fruits, vegetables and other plants are portrayed in the photo album as bearing potentially radiation-induced growth defects, which has stirred concerns about the safety of Japanese produce. Though it cannot be definitively proven that these produce defects are a direct result of the Fukushima disaster, some say they are still a cause for concern.

“Among the ‘mutant vegetables’ is a giant tomato apparently bubbling with tumors, a five-fingered turnip, and two peaches which have grown into figures of eight,” explains the U.K.’s Daily Mail about the unconfirmed photo set. “Two gardeners hold cabbages aloft — one a normal size, the other at least four times bigger. And in one picture a cucumber seems to have formed into a strange hybrid with leaves erupting from the base.”

You can view the full photo album here:
http://now.msn.com

Since being published, however, the legitimacy of the photo set has been called into question, and MSN.com even issued a correction claiming that the deformed produce was not the result of Fukushima. But the basis for this correction was even more hearsay from an unidentified website in Japan, which declared the images unrelated to Fukushima. As of this writing, there appears to be no definitive proof either way to confirm the source of the disfigured fruits and vegetables.

“We have seen some evidence of increased mutation rates in plants and barn swallows in Fukushima, but we have not had the funding to do the sort of rigorous science that is necessary to examine such questions in a convincing manner” says Timothy Mousseau, a biology professor at the University of South Carolina (USC) who is currently studying fauna near Fukushima.

“The vegetable photos are suggestive but, at present, are only anecdotal. Follow-up studies need to be conducted by qualified researchers to verify the validity of these observations.”

High levels of nuclear radiation still being recorded near Fukushima

Meanwhile, some of the highest levels yet detected of radioactive cesium-134, cesium-137, strontium-90 and other nuclear isotopes were recently recorded in and around the Fukushima plant, including in ocean waters. The Tokyo Electric Power Company (TEPCO), which operates the plant, has also reported that new steam plumes have been seen rising from the damaged reactor buildings, which is already increasing estimated cleanup costs.

“The government-backed National Institute of Advanced Industrial Science and Technology said decontamination work in Fukushima prefecture will cost up to 5.81 trillion yen ($58 billion), far more than the 1 trillion yen the government has so far allocated,” explains a recent Channel News Asia report.

Sources for this article include:

http://abcnews.go.com

http://www.dailymail.co.uk

http://www.technologyreview.com

http://www.channelnewsasia.com

February 8, 2014 Posted by | Uncategorized | 2 Comments

Breaking news: 75 children have now been diagnosed with thyroid cancers. 福島県、こどもの甲状腺がん75名に

http://evacuatefukushimanow.wordpress.com/2014/02/08/breaking-news-75-children-have-now-being-diagnosed-with-thyroid-cancers-%E7%A6%8F%E5%B3%B6%E7%9C%8C%E3%80%81%E3%81%93%E3%81%A9%E3%82%82%E3%81%AE%E7%94%B2%E7%8A%B6%E8%85%BA%E3%81%8C%E3%82%9375/

8 MORE CASES OF THYROID CANCERS IN FUKUSHIMA CHILDREN (To December 2013 Arclight2011)

In September 2012, the first case of thyroid cancer was diagnosed in a child out of 38 000 children.

By September 2013, the number increase by 58 cases including 26 confirmed.

By February 2014, a whooping 75 children out of roughly 270 000 are either confirmed or suspected to have contracted the disease. [ I think this should read “end of last year” and not February, to quote Japan Times article – Arclight2011) We all know what that means;  Those not confirmed WILL soon be confirmed and will be added up to this ever increasing number by next survey (probably due around May 2014).

NOTE; More than 100 000 children have yet to participate in the survey

The sociopaths in charge are still denying this is related to the ongoing nuclear crisis.

The crimes on the children of Fukushima continues unabated. This brings shame to the great nation of Japan. Evacuate the children. No ifs or buts !!

福島の子供を守れ

1779706_594974397262836_769593604_n

速報:【福島県、こどもの甲状腺がん75名に】

「福島県「県民健康調査」検討委員会、傍聴に来ています。

甲状腺がん、悪性ないし悪性疑いは、とうとう75名。」

by 佐々木 るり

” 子どもの甲状腺癌は、IAEAが認める、
放射能起因の健康障害の
【唯一の非確率的先行指標】です。
これ以外の健康障害は、放射能との因果関係を
一切認めていません。また、科学的に立証できません。”

写真:配布資料

Asahi Shimbun Morning paper
http://www.asahi.com/articles/ASG276D2FG27ULBJ00P.html

asahi

February 8th 2014

Source: Sasaki Ruriko and Japan Times

Live from Lalaland

Nelson

February 8, 2014 Posted by | Uncategorized | Leave a comment

Former US contractor admits N Korea nuclear leak

“The ruling also gives the government carte blanche power to classify whatever it wants – including waste, abuse, and crimes – and keep it secret under the threat of prosecution of anyone who could potentially reveal it,”

http://www.channelnewsasia.com/news/world/former-us-contractor/987062.html
A former US government contractor pleaded guilty to leaking “highly classified intelligence” about North Korea’s nuclear program and will serve 13 months in prison, officials said.

WASHINGTON: A former US government contractor pleaded guilty on Friday to leaking “highly classified intelligence” about North Korea’s nuclear program and will serve 13 months in prison, officials said.

Stephen Jin-Woo Kim, a former Lawrence Livermore National Laboratory employee who was assigned to the State Department, agreed to the plea, which must be approved by a judge, according to the US Justice Department.

Kim was charged with leaking information to Fox News reporter James Rosen in a case that sparked concern about a war on news media, because Rosen was named as a “co-conspirator” in the case.

The leak revealed the US assessment of military capabilities and preparedness of North Korea. It became the subject of a Fox News dispatch within hours of the 2009 release.

“Today Stephen Kim admitted to violating his oath to protect our country by disclosing highly classified intelligence about North Korea’s military capabilities,” said US Attorney Ronald Machen in a statement.

“Stephen Kim admits that he wasn’t a whistleblower. He admits that his actions could put America at risk,” Machen added.

Kim is to be sentenced on April 2 by District Court Judge Colleen Kollar-Kotelly on one count of making an unauthorized disclosure of national defence information. Under the agreement, he would get one year of supervised release after his prison term.

Defence attorney Abbe Lowell said in a statement that Kim “did what so many government officials do every day in Washington, DC: he talked to a reporter.

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February 8, 2014 Posted by | Uncategorized | Leave a comment

UPDATE 2-EU to rule on controversial British nuclear deal this year

…..Yet the question is to whether the contract, after possible changes, would remain economically realistic for EDF.

If the EU wants to decarbonise electricity production, it must help low-carbon technologies, said IEA analyst Manuel Baritaud. “Governments will have to find ways to boost the net present value of low-carbon investments and mitigate the market risks for investors,”….

EU’s Almunia wants final decision by year-end

* EU letter to UK says proposed deal involves state aid

* Lawyers see little chance of deal as is

http://uk.reuters.com/article/2014/02/07/eu-hinkley-idUKL5N0LC28L20140207?feedType=RSS&feedName=rbssFinancialServicesAndRealEstateNews

Fri Feb 7, 2014 6:07pm

LONDON/PARIS, Feb 7 (Reuters) – European Union antitrust chief Joaquin Almunia said on Friday Britain must clarify why state aid is needed to build a 19 billion euro ($26 billion) nuclear plant with French state-controlled utility EDF.

“We need the UK authorities’ cooperation. My intention is to be able to adopt a final decision on this before the end of the year,” he told reporters in London.

The European Commission has challenged the British government’s assertion that power price guarantees and state-backed loans for the Hinkley Point project are legitimate aid.

In a 68-page letter to the British government dated Dec. 18 and released last week it said the Hinkley Point contract between EDF and the government has the “potential to distort competition and affect trade between Member States”.

Specifically, it said a proposed “Contract for Difference” guaranteeing prices for power the plant produces “effectively insulates” EDF and its investment partners from the market.

The government proposes guaranteeing a power price of 92.50 pounds ($150) per megawatt-hour for 35 years, which is more than twice the current market rate.

The Commission asked Britain to reply and submit any additional information within a month.

“From a market investor’s point of view, it would be safer to give up hope that the UK government can convince the European Commission and to opt for a realistic assumption that the deal is off,” said Doerte Fouquet, a Brussels-based lawyer at Becker Buettner Held who specialises in EU energy policy.

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February 8, 2014 Posted by | Uncategorized | Leave a comment