nuclear-news

Nuclear company AREVA really in a state of bankruptcy, but tax-payers will bail it out

AREVA goes from bad to worse,  nuclear giant headed for bankruptcy  http://sansdrapeauxnibanderoles.wordpress.com/  Sortir du Nulcleaire , France January 4 15 , Translation by Noel Wauchope The French group AREVA, world No. 1 nuclear power is bankrupt. Its shares collapsed: they have lost 55% since the beginning of the year. Already over-indebted, AREVA’s losses for 2014 would exceed € 1 billion

• Nuclear power has become too risky and too expensive, civil nuclear is no longer sold on the world market: AREVA has not delivered a reactor for 7 years.
• The sites of two EPR reactors in Finland and France drag on, their cost has tripled, now reaching 9 billion euro.But the Finns will not pay the additional costs and now require penalties. It’s a total  financial fiasco.
• The delivery of nuclear fuel in Japan remains suspended because the reactors have remained closed there since the accident in Fukushima. This fuel export shortfall adds to the worsening finances of AREVA.
• After Fukushima, Siemens left AREVA to convert to renewable energy. They held a 20% stake in the group.
• The Uramin case in 2007: the acquisition of uranium mining in Niger, Central African Republic and Namibia, which soon proved unworkable. Between the purchase, retro-commissions and the unsuccessful operation, AREVA has accumulated € 3bn loss. The proposed remedies: the taxpayer on the front line

January 5, 2015 - Posted by Christina Macpherson | business and costs, France, politics