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What’s plan B if the government can’t attract investors willing to fund Sizewell C?



What’s plan B if the government can’t attract investors willing to fund Sizewell C?  Guardian Nils Pratley  27 Jan 22
. Development money for nuclear power station is an attempt to draw in investors that could replace China’s CGN sum of £100m is peanuts in the expensive world of nuclear power stations, so regard the business secretary Kwasi Kwarteng’s funding for a round of development work on Sizewell C as a form of advertising. The cash is intended to send a message that the government is serious about getting the plant built in Suffolk. And it is an appeal for outside investors to volunteer to sit alongside developer EDF, the French state-backed group.

There was also a definition of a desirable investor: “British pension funds, insurers and other institutional investors from like-minded countries”. Note the nationality test. It is the closest we have come to official confirmation that China General Nuclear (CGN), originally slated for a 20% stake in Sizewell, will be kicked off the project. It remains to be seen how, legally, the government will rip up the 2015 deal with CGN signed by David Cameron’s government, but the intention is clear.

So, too, is the intended funding mechanism. It will be a regulated asset base (RAB) model, a version of the formula used at Heathrow Terminal 5 and the Thames Tideway giant sewer. The key point for investors is that they will see some income before Sizewell is built, unlike at Hinkley Point C where EDF and CGN earn their princely cashflows only when the electricity starts to flow.

What, though, if those British and like-minded institutions still refuse to play? Nuclear represents unknown territory for most of them. What if competition to invest, which is meant to be the other way in which RAB lowers financing costs, doesn’t materialise? What’s the government’s plan B?

The only possible solution is for the state to invest directly. If that is so, wouldn’t it be better to run an upfront benchmarking exercise at the outset to compare the numbers? Sizewell, unfortunately, is probably inevitable given the current panic over high gas prices and long-term energy security. But taxpayers, on the hook anyway via household bills, deserve to know that the odd billion or three isn’t being diverted unnecessarily to intermediaries.

By the time Sizewell’s sums become enormous, transparency will be essential…….https://www.theguardian.com/business/nils-pratley-on-finance/2022/jan/27/whats-plan-b-if-the-government-cant-attract-investors-willing-to-fund-sizewell-c

January 31, 2022 Posted by | business and costs, politics, UK | Leave a comment

Leaders say nuclear will save Kemmerer. Residents aren’t convinced.

when TerraPower announced in November that it would build a first-of-its-kind sodium-cooled nuclear reactor at the town’s Naughton Power Plant, community leaders exhaled at last. The project promised a lifeline, not just to the town, but to similarly coal-dependent Wyoming.

The people who claimed they didn’t have much to say about the project, the ones who actually had a lot to say — a lot of them didn’t feel like trailblazers. They felt more like guinea pigs.

Many were suspicious. Why, they asked, would TerraPower stick its flagship project in such a tiny, remote town? Was it because they were too desperate to protest? Too isolated for anyone to care if things went awry?…….


Leaders say nuclear will save Kemmerer. Residents aren’t convinced. Casper Star Tribune 
Nicole Pollack,  Jan 29, 2022 
 
The Star-Tribune visited Kemmerer this month to talk with the community about TerraPower’s nuclear plant. Energy reporter Nicole Pollack and photographer Lauren Miller will continue reporting from Kemmerer as the project develops.Roaming Kemmerer, asking people about the planned nuclear reactor, I expected excitement. Or trepidation. Or anger.

Apathy wasn’t on the list.

“We don’t really talk about it,” a retired miner told me as his fellow retirees — former coal miners and quarry workers and power plant operators — heckled one another around a senior center pool table.

Most of the Kemmerer residents I met said the same thing. They were familiar with the plan to replace their half-century-old coal plant with a nuclear reactor; did I know Bill Gates was behind it? Everyone, they assured me, was aware. They just didn’t have much more to say.

The energy sector is always changing, the miner said, and people in Kemmerer are used to riding out those booms and busts. Another boom isn’t anything special. So the project doesn’t come up in conversation very often.

He discusses it with his wife sometimes, though. The two of them speculate, nervously, about how a nuclear plant might change the tiny town they’ve called home for decades.

Coal’s demise hangs heavy over Kemmerer, and when TerraPower announced in November that it would build a first-of-its-kind sodium-cooled nuclear reactor at the town’s Naughton Power Plant, community leaders exhaled at last. The project promised a lifeline, not just to the town, but to similarly coal-dependent Wyoming. Gov. Mark Gordon proudly unveiled the project last summer during a celebratory press conference featuring a video message from Gates himself. 

We’re absolutely ecstatic,” Mayor Bill Thek told me after Kemmerer was chosen.

The miner and his wife aren’t so sure. While they agree Kemmerer needs an economic boost of some kind, a replacement for its fading coal sector, they’re not sure whether a next-generation reactor will be the right answer. They’d rather keep burning coal.

I asked a lot of people in Kemmerer about the nuclear plant. At first, most sounded unconcerned, almost indifferent: “I don’t have much to say about it.”

But, it turned out, they usually did………………..

Maybe, another offered, the company was already starting to build the plant itself.

He hoped construction hadn’t started. There were still too many unknowns, he told me. The town wasn’t ready for nuclear; not by a long shot. He didn’t know if it would ever be.

Life after coal

Gillette, Rock Springs, Glenrock and Kemmerer — the four communities considered for TerraPower’s first nuclear reactor — are all coal towns. But in Kemmerer, the victor, founded in 1867 near the coal mine that gave the town its name, coal has always been king.

Much of the younger workforce has opted to work at the gas plant, or even at the fossil quarries, over the coal plant, in the hopes that those jobs will last even after coal is gone. And Kemmerer and Diamondville are trying to put themselves on the map — on tourists’ lucrative radar — for their fossils………………………………………

TerraPower and Rocky Mountain Power had convened roughly 40 high-profile community leaders, including elected officials, town managers, school and hospital administrators and police officers, in the Best Western conference room for a question-and-answer luncheon.

…………………   they [the community]  also know about the plant’s “aggressive” seven-year time limit — a condition of the company’s nearly $2 billion Department of Energy grant. And, as the meeting wrapped up, they wanted to know: How sure was TerraPower that the project would succeed?…..

Why us?

In the Best Western conference room, the descriptor of choice was “demonstration.” Outside of that room, at the senior center and the bowling alley and the booths at Place on Pine, the nuclear plant was “experimental.”

The people who claimed they didn’t have much to say about the project, the ones who actually had a lot to say — a lot of them didn’t feel like trailblazers. They felt more like guinea pigs.

Many were suspicious. Why, they asked, would TerraPower stick its flagship project in such a tiny, remote town? Was it because they were too desperate to protest? Too isolated for anyone to care if things went awry?…….

There will be protests,” I was told several times. No one who said it wanted to participate themselves — I didn’t meet anyone who did — but they were suresomeone would…………………   https://trib.com/business/energy/leaders-say-nuclear-will-save-kemmerer-residents-arent-convinced/article_64d05a74-9245-5183-8366-651079ad9b12.html………………. 

January 31, 2022 Posted by | public opinion, USA | Leave a comment

Map shows the horrible impact a nuclear bomb would have on Coventry

Map shows the horrible impact a nuclear bomb would have on Coventry

We used NUKEMAP to find out the effects nuclear bombs would have on Coventry, Coventry Live, ByJaspreet Kaur,  30 Jan 22, t’s a chilling thought – but have you ever wondered what would happen if a nuclear bomb was suddenly detonated in Coventry as part of an attack on the UK?

CoventryLive has used specialist research to find out what would happen if a nuclear bomb hit the city.

The website NUKEMAP calculates the effects of the detonation of a nuclear bomb. And although of course none has ever hit the UK before, they were used to terrible effect in Japan at the end of the Second World War.

And of course our city faced dreadful destruction in Nazi bombing raids.

The website that now looks into the horrifying impact a nuclear disaster could have was created by Alex Wellerstein, a historian of science who specialises in the history of nuclear weapons and nuclear secrecy.

He created Nukemap in February 2012, and it has been used by over 25 million people globally since its launch.

In one experiment, we looked at what happened if ‘Davy Crockett’ detonated in our city – one of the smallest nuclear bombs ever built in the United States……………

all-in-all the impact of the smallest US bomb is very bad in real terms, but relatively small for a nuclear attack. Wr then looked at a much larger bomb.

And chillingly, the ‘Gadget’ bomb was found to have a much more awful impact.

If detonated in Coventry city centre this particular bomb would cause thermal radiation to several Coventry areas, including Earlsdon Cheylsmore , Ball Hill and Daimler Green .

It would also cause moderate blast damage to areas further afield, such as Radford Coundon Whitley and Styvechale .

In total, the number of estimated injuries would rise significantly to 48,060 with 23,900 estimated fatalities. Which is terrifying.

The test may seem arid – but the threat of nuclear war hung over the world for decades during the Cold War.
There are still around 3,750 active nuclear warheads and nearly 14,000 total nuclear warheads in the world today……………………………   https://www.coventrytelegraph.net/news/map-shows-horrible-impact-nuclear-22918995

January 31, 2022 Posted by | UK, weapons and war | Leave a comment

West Virginia public weighs in on nuclear power plant prohibition repeal .


Public weighs in on nuclear power plant prohibition repeal    The Weirton Daily Times, 30 Jan 22
,

STEVEN ALLEN ADAMS STAFF WRITER, CHARLESTON —With lawmakers on the cusp of removing a more than 25-year-old ban on nuclear energy in West Virginia, members of the House of Delegates received input from the public Friday.

The House Government Organization Committee held a public hearing in the House of Delegates chamber Friday morning on Senate Bill 4, repealing sections of the state code banning the construction of nuclear power plants in West Virginia………

The bill would remove two sections of code banning the construction of new nuclear power plants except under certain circumstances. The ban has been in place since 1996.

Supporters of the bill include the West Virginia Manufacturers Association and the West Virginia Chamber of Commerce. …………………

Opposition to the bill united two sides normally fighting each other: the coal industry and environmental activists. ……….

Hannah King, a lobbyist with the West Virginia Environmental Council, read a prepared statement on behalf of Gary Zuckett, executive director of the West Virginia Citizen Action Group, due to Zuckett being quarantined for a COVID-19 infection. Zuckett, who advocated for the 1996 ban on nuclear power, said even with improvements in technology the state should take its time before repealing the ban.

“We need climate solutions now, not in 10 years,” King said on behalf of Zuckett. “The prudent thing to do would be to put these bills on hold, assemble an interim study, gather experts on both sides of this critical issue, and make a measured and informed decision. If we’re going to open up West Virginia to nuclear power, let’s do it with proper regulations and safeguards for its people, economy and environment.”………………  https://www.weirtondailytimes.com/news/local-news/2022/01/public-weighs-in-on-nuclear-power-plant-prohibition-repeal/

January 31, 2022 Posted by | politics, USA | Leave a comment

Montana communities have better options than nuclear power.

We have better options than nuclear,  https://helenair.com/opinion/letters/we-have-better-options-than-nuclear/article_620c7b44-dfaa-5448-b4fd-f8964dded79e.html   Jeff Havens, 30 Jan 22,

Voter voices were silenced last spring by legislators and the governor on the topic of whether nuclear fission reactors and their highly radioactive waste can be located within our communities. Simultaneously, a separate but related law was enacted for the state to study “small advanced nuclear reactors.”

Contrary to their myopic moves, the Union of Concerned Scientists reported “newly built reactors must be demonstrably safer and more secure …. Unfortunately, most ‘advanced’ nuclear reactors are anything but. … for any reactor concept it is critical to understand that ‘burning’ spent fuel first entails reprocessing to separate out and re-use plutonium and other weapon-usable materials. Reprocessing makes these materials more accessible for use in nuclear weapons by states or terrorists….”

I hate to think that some “recycled” material from such reactors could be diverted into manufacturing nuclear weapons to be leveraged by domestic states or terrorists during the next coup attempt on our nation. This alarming possibility is amplified when one considers federal seditious conspiracy indictment of Oath Keepers founder and leader Elmer Rhodes, who is a former Montana attorney and resident.

We have better options for jobs than hazards associated with fission reactors. Let’s try more wind and solar, first.

January 31, 2022 Posted by | politics, USA | Leave a comment

The rulers of the great powers are playing with fire — Labour Hub

By Gilbert Achcar It is not an exaggeration to say that what is currently happening in the heart of the European continent is the most dangerous moment in contemporary history and the closest to a third world war since the Soviet missile crisis in Cuba in 1962. True, neither Moscow nor Washington has hinted at […]

The rulers of the great powers are playing with fire — Labour Hub

January 31, 2022 Posted by | Uncategorized | 1 Comment