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Community unsure about merger of companies, after failure of V.C. Summer nuclear project

Opinions mixed during hearing about failed nuclear power project, Aiken Standard, By Dede Biles dbiles@aikenstandard.com, Oct 11, 2018    Not many people had something they wanted to say about an abandoned nuclear construction project in Fairfield County during the S.C. Public Service Commission’s hearing Monday.

More than 80 people showed up at the Aiken County Government Center, but only 12 testified before the panel, which is considering whether to approve a pending merger between Virginia-based Dominion Energy and SCANA, which is the parent company of SCE&G.

The commission also is trying to decide how much, if anything, SCE&G customers can be charged in the future to help pay for the failed venture’s billions of dollars in cost.

SCE&G and state-owned Santee Cooper were building a new generation of nuclear reactors at the V.C. Summer facility.

Monday’s hearing lasted less than an hour, and the opinions expressed were mixed about the merger.

“I’m kind of against the merger,” said Eric Savage of Aiken. “We hear all the things that Dominion says about how they are going to provide (an average refund of) $1,000 to customers and better things for our community, but what about the money that people have already lost (because of rate increases)? We want to know who is standing behind the South Carolina residents who have already paid out so much? Some of them are on fixed incomes.”……..

Chris Hall of Aiken described the situation with the abandoned nuclear project as “a fiscal nightmare.” He also complained that “rate payers have been asked to bear the burden (through rate hikes)” while SCE&G’s “senior-level executives have gone on with their highly-compensated bonuses and salaries.”……..

The Public Service Commission also held a hearing about the abandoned nuclear power project Monday in Columbia and another is scheduled for North Charleston on Oct. 15 https://www.aikenstandard.com/news/opinions-mixed-during-hearing-about-failed-nuclear-power-project/article_18d0e472-ca79-11e8-8482-0b530859c42f.html

October 13, 2018 Posted by | business and costs, USA | Leave a comment

Nuclear weapons proliferation risks in China’s push to export nuclear reactors

October 11, 2018 Posted by | China, marketing, weapons and war | Leave a comment

$2.4 Trillion Fossil Fuel Shift – better than climate apocalypse

THE IPCC REPORT ALSO RECOMMENDED THAT BY 2050:

Coal’s share of electricity supply should be cut to 2 percent or less.

 Renewables should supply 70 percent to 85 percent of power generation.

Climate Crisis Spurs UN Call for $2.4 Trillion Fossil Fuel Shift https://www.bloomberg.com/news/articles/2018-10-08/scientists-call-for-2-4-trillion-shift-from-coal-to-renewables?srnd=climate-changed, By Reed Landberg, Chisaki Watanabe, and Heesu Lee, October 8, 2018,    World on track to warm 3 degrees, overshooting 2015 Paris goal

·UN panel releases report on capping warming at 1.5 degrees

The world must invest $2.4 trillion in clean energy every year through 2035 and cut the use of coal-fired power to almost nothing by 2050 to avoid catastrophic damage from climate change, according to scientists convened by the United Nations. Continue reading →

October 9, 2018 Posted by | 2 WORLD, business and costs, climate change | Leave a comment

Despite its anti-nuclear ordinance, Oakland City Council to increase a contract with nuclear weapons maker AECOM

Nuclear Weapons Maker to Receive Extra $420,600 to Help Repair Oakland Bridge https://www.eastbayexpress.com/SevenDays/archives/2018/10/08/nuclear-weapons-maker-to-receive-extra-420600-to-help-repair-oakland-bridge

In addition to managing US nuclear labs, AECOM does billions in business building overseas military bases and maintaining Air Force drones.

By Darwin BondGraham The Oakland City Council is considering increasing an existing contract by $420,600 for a total of $1.25 million to repair the 23rd Avenue Bridge, but the modified contract is with AECOM, an engineering company that has been involved in designing and manufacturing nuclear weapons components, and in the past, helped manage a desert test site where nuclear weapons experiments were conducted.

Oakland has an anti-nuclear ordinance that usually bars companies involved in designing and building nukes from doing business with the city. But city staffers are recommending that the council waive the prohibition for AECOM due to the fact that the company, and its URS subsidiary, have been involved with the 23rd Avenue Bridge project since 2003 and finding another firm to do the technical work would be difficult.

The original $229,400 contract form 2003 for design and engineering services was signed when URS was independent from AECOM and before URS was a prime contractor with the U.S. Department of Energy, which oversees the nation’s nuclear weapons programs. But in 2005, URS became part of a consortium of companies that took over management of the Los Alamos National Laboratory, where most of the U.S. military’s nuclear weapons are designed and some weapons parts are manufactured. The next year, URS took over management of the Lawrence Livermore National Laboratory, the nation’s second nuclear weapons design and testing lab.

AECOM bought URS in 2014 and as a result became a partner in the nuclear labs’ management company. Three months ago, the federal government selected a new team to manage the Los Alamos lab, dropping AECOM as one of the firms involved there. But AECOM is still part of the Livermore Lab group.

Prior to this, AECOM helped manage the Nevada National Security Site where nuclear weapons are tested in “subcritical” experiments that don’t result in fission or fusion explosions.

AECOM has billions of dollars worth of other contracts with the U.S. military, doing everything from building overseas bases to maintaining drone weapons systems. As a result of its nuclear weapons contracts, AECOM was one of several companies that Norway’s sovereign fund put on an investment blacklist last January.

In 2012, Oakland’s City Council increased the contract with URS to work on the 23rd Avenue Bridge to $829,400. But according to the city, “several unforeseen conditions and needed re-design work” require that the contract be increased again to $1.25 million. The funds are mainly state and federal transportation grant dollars.

October 9, 2018 Posted by | business and costs, politics, USA | Leave a comment

Georgia’s utility customers – worms who may be turning against paying for the Vogtle nuclear boondoggle

We understand bringing jobs to the state has been the governor’s chief priority and achievement, and it is one economic benefit of the project. But utility customers should only have to pay for their electric power, not a jobs program without end or limits on how much is spent.

Nuclear power play keeps Vogtle project alive https://www.gainesvilletimes.com/opinion/editorial-nuclear-power-play-keeps-vogtle-project-alive/  Plan moves ahead with changes, but customers’ patience is wearing thin  The Times Editorial Board letters@gainesvilletimes.com  Oct. 6, 2018,  For years, Georgia Power customers, nuclear power opponents and some politicians have been arguing that construction of the two new reactors at the Plant Vogtle nuclear power plant near Waynesboro is the state’s all-time white elephant.

The project, the nation’s only nuclear plant construction still ongoing, is already a year overdue, nowhere near finished and $1 billion overbudget. final cost is expected to reach near $27 billion, more than twice the original $13 billion price tag. Last year’s bankruptcy filing of the project’s lead contractor, Westinghouse, set the deadline back even further.

Yet late last year, the Georgia Public Service Commission fended off pressure from ratepayers and anti-nuclear advocates and voted to back Georgia Power’s request to continue the work.

But now, after years of seemingly exhaustive support for an enterprise with no limits, some are finally fed up enough to say no.

The most recent and crucial rebellion came recently from one of the project’s partner utilities. Oglethorpe Power threatened to pull out of the reactor construction if some effort wasn’t made to ease its financial commitment. Oglethorpe is one of three smaller electric membership corporations that serve as junior partners in the project along with Georgia Power and its parent, the Southern Company.

But though Georgia Power is a for-profit with shareholders to help shoulder the costs, smaller EMCs don’t have that flexibility and must make their customers bear the funding burden.

Oglethorpe balked at reaffirming its partnership and argued its case to lawmakers for relief. They seemed to find sympathetic ears, with 20 legislators, including Hall County Sen. Butch Miller and other influential leaders, urging the partners to consider a cap on the project’s costs before more losses are passed on to consumers.

The new deal doesn’t exactly do that, but it does to ensure that further cost overruns will be shared more equitably among Georgia Power and the owners of the project — Georgia Power, Oglethorpe Power, the Municipal Electric Authority of Georgia and Dalton Utilities. Specifically Georgia Power must take on a greater portion of future deficits.

Yet even with a somewhat more reasonable deal for the owners, it could still leave ratepayers on the hook for the extra costs as the project wobbles toward the finish line.

“We’re very concerned about today’s announcement because it’s clear the Plant Vogtle nuclear project is in serious trouble if this much arm twisting is necessary to keep all four partners at the table,” Stephen Smith, executive director of Southern Alliance for Clean Energy said in an emailed statement.

Liz Coyle, executive director of consumer advocate Georgia Watch, said it “appears the owners have decided to plow ahead with a project that holds continued uncertainty and certainly clear risk of major cost increases and very little, if any true protections for Georgia’s electric customers.”

It’s worth noting that in addition to those who see the reactor construction as an endless money pit, others object over the viability and safety of nuclear power as a long-term solution to ease off carbon-based fuels.

Defenders of the Vogtle reactors argue that the jobs it creates in that part of the state justify its support. Among them is Gov. Nathan Deal, who urged Oglethorpe to stay with construction plans “before walking away from 7,000 Georgia jobs.”

We understand bringing jobs to the state has been the governor’s chief priority and achievement, and it is one economic benefit of the project. But utility customers should only have to pay for their electric power, not a jobs program without end or limits on how much is spent.

Oglethorpe’s resistance to continuing without some guarantees was timely and needed, but it’s only the first step. The only way to ensure customers won’t have to keep paying more is if legislators insist on the cost caps they suggested. Perhaps that would accomplish what the Public Service Commission has thus far been unwilling or unable to do to rein in cost overruns.

Remember, that five-member board voted unanimously last year to allow the utilities to keep charging customers for its boondoggle. It fits the profile of a state agency that over the years has seldom met a rate hike it wouldn’t rubber-stamp for utilities, many of which provide campaign donations to its members.

Yet Georgians do get a say in how this plays out. There’s a statewide election in less than a month and two PSC seats are on the ballot. Perhaps if commissioners got a message from voters making it clear they’re tired of footing the bill, the board wouldn’t be as eager to keep signing off on this and other costly ventures.

Customers of Georgia Power and its partner EMCs already have paid more than their fair share to get the reactors on line. Even if the plant is finished and begins turning out electrical power, it will take years to recoup what has been invested. It’s time to unplug ratepayers from the burden and let the big corporation’s shareholders take that responsibility.

Even the strongest advocates for nuclear power as a replacement for carbon-based energy have to understand there isn’t an endless supply of construction money in the pockets of Georgia utility consumers.

October 8, 2018 Posted by | business and costs, politics, USA | Leave a comment

Yet more delays for Finland’s troubled Olkiluoto nuclear power project

Finnish Olkiluoto-3 nuclear unit tests slipping behind schedule: TVO https://www.spglobal.com/platts/en/market-insights/latest-news/electric-power/100418-finnish-olkiluoto-3-nuclear-unit-tests-slipping-behind-schedule-tvo, Elaine Hiruo –Jonathan Dart

HIGHLIGHTS

New final phase schedule due in December

Too early to say if first power tests delayed

Output schedule ‘available ahead of commercial op’

London — Areva-Siemens is to provide a new schedule in December for the final phases of the 1.6-GW Finnish Olkiluoto-3 nuclear reactor after slippage in its commissioning tests, owner operator TVO confirmed Thursday.

This could potentially push back first delivery of power in tests currently scheduled from May 2019, “but we won’t know this until December,” TVO spokesman Pasi Tuohimaa told S&P Global Platts.

Previously TVO has said test production over a roughly five-month period could account for 10%-15% of Finland’s annual electricity needs ahead of full commercial operation, or 2-4 TWh.

Such is the potential volume at risk that TVO is to put up a schedule of Olkiluoto-3’s production tests six months before commercial operation, Tuohimaa said. He stressed that at this stage it was impossible to assess accurately how much electricity would be produced during testing.

“The completion of the commissioning tests has not been progressing according to the updated schedule for commissioning by the plant supplier Areva-Siemens Consortium,” TVO said in a statement late Wednesday.

The operator could not say whether “rebaselining” of the final phase schedule would affect the current September target for the start of commercial operation at the plant, which is already almost 10 years behind the original schedule and three times over the original Eur3.2 billion budget.

Neither could TVO say whether test production of electricity at varying power levels from May 2019 would be affected by the re-scheduling.

In June 2017, TVO said Olkiluoto-3 would begin commercial operation in September 2019, rather than in May of that year as expected. Hot testing had taken longer than expected, it said.

Q2 2019 Nordic baseload power on the NASDAQ futures exchange traded Thursday 0900 GMT at Eur36.40/MWh, down 30 euro cent from two trades earlier in the European morning.

elaine.hiruo@spglobal.com– jonathan.dart@spglobal.com

 

October 5, 2018 Posted by | business and costs, Finland | Leave a comment

New Jersey’s electrical utilities lobbying for nuclear subsidies

UTILITIES SUBMIT PROPOSALS FOR NUCLEAR SUBSIDIES, NJ Spotlight TOM JOHNSON | OCTOBER 3, 2018

While some residential customers may end up paying $30 more annually, large energy users may see their bills rise by $1 million a year.

 It will be months before the state decides whether customers need to subsidize nuclear power, but New Jersey’s four electric utilities are already proposing how they will recover those costs.

In filings with the Board of Public Utilities, each of the utilities submitted tariffs disclosing how they will recoup the cost of buying Zero Emission Certificates (ZECs), the potential $300 million annual subsidy aimed at propping up the state’s supply of nuclear power.

The proposals are the latest in a series of filings that could boost bills to customers by billions of dollars if approved by the regulatory agency, most stemming from two bills signed into law this spring that will transform energy policy in New Jersey.

PSEG threatened to shut down units in South Jersey

The most contentious bill involved proposed subsidies to avert the closing of the three remaining nuclear power plants in New Jersey. Without financial incentives, Public Service Enterprise Group threatened to shut down the units it operates in South Jersey……

Is it a done deal?

“It gives the appearance of being a fait accompli,’’ said Doug O’Malley, director of Environment New Jersey, part of a coalition that opposed the nuclear bill. “The ZEC tariffs give the appearance that it is a done deal.’’

The board must still approve the tariffs, as well as any application by a nuclear-plant owner for the subsidy.

The proposed surcharge is established by the bill signed by Gov. Phil Murphy, but the tariffs submitted to the BPU vary on how much customers will pay depending on what customer class they’re in……..

Stefanie Brand: ‘It all adds up’

“The numbers appear small, but in fact they are quite large,’’ said Steve Goldenberg, an attorney representing large energy users. When you multiply the change by a whole lot of kilowatt hours, you derive a very large number.’’

The annual costs for some large energy users will exceed $1 million, Goldenberg said. “The lowest I’ve heard is $300,000.’’

Others worry the potential subsidies, when added to other costs that are pending before the BPU, or recently approved, will be a huge hit to ratepayers.

“It all adds up,’’ said Stefanie Brand, director of the Division of Rate Counsel. PSE&G has more than $10 billion in proposed rate increases pending before the BPU, if a recent $1.9 billion gas modernization program is included, Brand said.

Those cases include $2.5 billion to improve the resilience of its electric and gas distribution system; a $4 billion clean-energy initiative filed last Friday, and the proposed nuclear subsidy.

“The fact is there is no way to spend $10 billion and not have it be very expensive to ratepayers,’’ Brand said…….https://www.njspotlight.com/stories/18/10/02/utilities-submit-proposals-for-nuclear-subsidies/

October 5, 2018 Posted by | business and costs, politics, USA | Leave a comment

Delay at Olkiluoto nuclear project French-German consortium Areva-Siemens unable to complete tests

Nuclear plant delay, YLE  4 Oct 18  Daily Turun Sanomat reports that the start of regular power production at Finland’s biggest nuclear reactor, Olkiluoto 3, may be pushed back yet again.

TVO – the owner of the power plant – said the French-German consortium Areva-Siemens has not been able to complete commissioning tests at the Eurajoki site as planned, the paper says. According to TVO, it is still unclear whether the supplier’s test delays will affect the launch of the plant, which has been scheduled for September 2019.

The project in western Finland has been hit by repeated delays, spiraling costs and legal disputes. The construction of the 1,600 MW reactor began in 2005, and initially it was scheduled to start producing electricity in 2009.

On Tuesday, Finland’s Radiation and Nuclear Safety Authority expressed concerns about the safety culture at energy company Fennovoima, which seeks to build a nuclear power plant in northern Finland. https://yle.fi/uutiset/osasto/news/thursdays_papers_bus_driver_walk-out_nuclear_power_plant_delay_and_finns_in_drug_bust/10438247

October 5, 2018 Posted by | business and costs, Finland | Leave a comment

Russia’s campaign for power globally via its nuclear reactor exports

Is the global nuclear industry Russia’s latest power play? , Telegraph UK 4 Oct 18   “…….Amid the financial fallout of the West’s attempts at a new nuclear dawn, Russia is quietly building an army of nuclear reactors across the world in an increasingly important power play for a country that has traditionally been powered by fossil fuels.

Kirill Komarov, the first deputy chief executive of Russia’s Rosatom, is also the head of the World Nuclear Association. It is a fitting role for man helping to lead Russia’s global nuclear expansion.

“We are the ultimate leader in the majority of nuclear sectors,” he says, and it is hard to disagree. “In the last 11 years we have commissioned 13 new nuclear plants, which is probably the biggest number in the world even compared to the increase from our Chinese friends.”………

“We are a unique company in that we have activities in all areas of the nuclear business; starting with mining of natural uranium, enrichment fuel fabrication, developing our own nuclear equipment, the construction of nuclear power plants, the decommissioning, waste management… everything,” says Komarov…..

says Tim Yeo, a former Tory MP and the leader of New Nuclear Watch, an industry-backed lobby group.

“They back this up with helpful vendor financing packages, which the Russian government is ready to support where necessary,”………https://www.telegraph.co.uk/business/2018/10/04/global-nuclear-industry-russias-latest-power-play/

October 5, 2018 Posted by | business and costs, politics international, Russia | Leave a comment

Low river water levels mean restricted nuclear power outlook – France

REFILE-EDF says Meuse river flow could restrict output at Chooz nuclear plant https://af.reuters.com/article/commoditiesNews/idAFL8N1WK4QZ  PARIS, Oct 4 (Reuters) – Electricity production at French utility EDF’s Chooz nuclear power plant could be restricted from Oct. 11 due to the forecast flow of the Meuse river, French electricity grid operator RTE, said on Thursday.

Chooz nuclear power plant in the northeast of the country has an installed capacity of 3,000 megawatts. The plant uses water from the river to cool its two reactors.

“Production restrictions are likely to affect EDF’s nuclear generating fleet on Chooz production units starting Thursday October 11,” RTE said. It did not give further details.

Low river levels has forced EDF, which operates France’s 58 nuclear reactors, to curb production at some reactors in recent weeks.

October 5, 2018 Posted by | business and costs, France | Leave a comment

Unplanned nuclear power outages makes France’s electricity output fall

French nuclear output drops to 41 GW on three unplanned outages, S and P Global Platts,- Andreas Franke –Jonathan Fox – 4 Oct 28

HIGHLIGHTS

1.3 GW Belleville-2 in unplanned shutdown overnight

0.9 GW Gravelines-6 also taken offline overnight

0.9 GW Tricastin-2 restart attempt delayed again

London— French nuclear output fell below 41 GW Wednesday morning, with operator EDF listing three unplanned short-term outages with a combined 3 GW capacity, according to grid operator RTE…

some risks remain, with Platts Analytics noting the ongoing shift in the restart of reactors as a key factor.

The improved nuclear outlook in France is offset by a 2.5 GW shortfall in Belgium this winter and the permanent closure of the 1.3 GW Gundremmingen B reactor in Germany, with combined nuclear output across the CWE region for December seen barely above December 2017 levels, Platts Analytics said in its October report.

–Andreas Franke, andreas.franke@spglobal.com

–Edited by Jonathan Fox, jonathan.fox@spglobal.com  https://www.spglobal.com/platts/en/market-insights/latest-news/electric-power/100318-french-nuclear-output-drops-to-41-gw-on-three-unplanned-outages

 

October 5, 2018 Posted by | business and costs, France | Leave a comment

Travails of Flamanville nuclear reactor project cast doubt on the future of UK’s Hinkley Point project

Hinkley Point builder feels heat for French reactor failings. EDF has been
rebuked by French safety regulators for failings in the construction of a
prototype reactor in Normandy. Flamanville has been beset by problems and
delays that critics say cast doubt on EDF’s ability to deliver power from
the British plant by 2025, as promised.

The Autorité de Sûreté Nucléaire, the French nuclear regulator, said yesterday that EDF may need
to carry out more repairs than had been estimated initially on faulty
weldings at the French reactor and ordered it to carry out a wider review
of the quality of materials in the project. The watchdog said that it
believed the company had “failed to properly oversee certain activities” at
Flamanville and had failed in its handling of the welding problems when
they were discovered, taking a year and a half to inform the regulator.

Times 4th Oct 2018 , Flamanville originally was due to start up in 2012, but it has been delayed
repeatedly. This summer, EDF said that the start date had slipped again to
early 2020 as it needed to repair “quality deficiencies” in the welding in
part of the plant that carries steam to the turbines.

The costs of the project are estimated at €10.9 billion, more than three times its
original budget. The company has blamed the welding issues on a contractor
that had signed off on the work despite the failings. It said in July that
it needed to redo 53 weldings at Flamanville, but was confident that a
further ten were fit for service.

However, the watchdog said it was not certain that this was the case and that EDF should “start preparing for
possible repair work on the weldings”. It said that the company had
informed it only early last year, despite identifying the issue in July
2015.

This year the British nuclear regulator raised concerns about poor
quality control checks on EDF’s supply chain for Hinkley Point C and said
that improvements had to be made. Kate Blagojevic, head of energy and
climate at Greenpeace, said: “The French nuclear regulator has given a
pretty damning verdict on EDF’s attempt to build the new nuclear power
station at Flamanville . . . Nothing in the latest statement from the
French nuclear regulator could possibly inspire confidence that Hinkley
will be built on time or budget.”
https://www.thetimes.co.uk/article/b8a10964-c745-11e8-a4a5-a34bea2c1d04

October 5, 2018 Posted by | business and costs, UK | Leave a comment

Small Modular Nuclear Reactors – their developers demand $billions from UK tax-payers

Energy firms demand billions from UK taxpayer for mini reactors Ministers under pressure to fund new generation of small-scale nuclear power stations,Guardian, Adam Vaughan Energy correspondent @adamvaughan_uk, 1 Oct 2018 Backers of mini nuclear power stations have asked for billions of pounds of taxpayers’ money to build their first UK projects, according to an official document.

Advocates for small modular reactors (SMRs) argue they are more affordable and less risky than conventional large-scale nuclear plants, and therefore able to compete with the falling costs of windfarms and solar power.

But the nuclear industry’s claims that the mini plants would be a cheap option for producing low-carbon power appear to be undermined by the significant sums it has been asking of ministers.

Some firms have been calling for as much as £3.6bn to fund construction costs, according to a government-commissioned report, released under freedom of information rules. Companies also wanted up to £480m of public money to help steer their reactor designs through the regulatory approval process, which is a cost usually paid by nuclear companies.

Ten companies hoping to build the plants requested direct government funding, according to the briefing paper by the Expert Finance Working Group on Small Reactors. While the report named the companies involved in the mini nuclear projects, it did not specify who was asking for

David Lowry, a nuclear policy consultant who obtained the document, said: “SMRs are either old, discredited designs repackaged when companies see governments prepared to throw taxpayers’ subsidies to support them, or are exotic new technologies, with decades of research needed before they reach commercial maturity.”

The working group that drafted the report, and was appointed by the Department for Business, Energy and Industrial Strategy (BEIS), urged the government in August to put in place a framework to help bring the smaller plants to market.

The government has already offered £44m of funding for research and development of one group of SMRs, which typically have a capacity of less than a tenth of the Hinkley Point C nuclear plant being built in Somerset, or enough power for 600,000 homes.

Mini nuclear power stations are unlikely to supply clean energy to Britain’s homes and businesses any time soon. Of more than 30 British, US and Chinese companies that have expressed an interest in building one in the UK, the majority told the working group that their power stations would be ready to deployed in the 2030s.

The companies include UK firms such as Rolls-Royce, Sheffield Forgemasters and Atkins, along with China’s CNNC, US companies NuScale and Westinghouse, and France’s EDF Energy.

The working group found the firms’ cost estimates “varied significantly”, to the degree that some of the companies clearly had a “lack of understanding” of how British nuclear regulation works.

It also noted that some of the companies proposed using “non-standard fuels” rather than the conventional uranium used by today’s nuclear plants, which “may add cost to business models” because of new facilities to produce and later manage the spent fuel.

The firms told the group that the four main barriers they faced were finding and confirming sites, the cost of regulatory approval for their designs, a lack of state funding and unclear policy.

The government is expected to make announcements soon regarding the siting regime and regulatory approvals for SMRs, sources told the Guardian…….. https://www.theguardian.com/environment/2018/sep/30/energy-firms-demand-billions-from-uk-taxpayer-for-mini-reactors

October 1, 2018 Posted by | business and costs, politics, Small Modular Nuclear Reactors, UK | Leave a comment

The workers of Fukushima

September 29, 2018 Posted by | employment, Japan | Leave a comment

Britain’s Moorside nuclear power project on the rocks?

 

 

 

Moorside on the rocks? NucClear News October 18

 Plans for a new nuclear power station in Cumbria are on the verge of collapsing after the Toshiba-owned company – NuGen – laid off 60% of its workforce and embarked on a final effort to sell the project. Toshiba was due to sell the NuGen consortium to South Korean state-owned firm Kecpo in early 2018, as the Japanese firm exits international nuclear projects and looks to recoup some of the £400m it has spent on the Moorside plant.

But Kepco has been delaying a final decision, due in part to the UK government signalling a new approach to financing nuclear power stations. That has forced NuGen to cut 60 of its 100-strong workforce after a six-week consultation with staff. (1)

Unions said the project’s problems showed the need for the government to take a stake in Moorside. Justin Bowden, the GMB national secretary, said: “The looming collapse of this vital energy project has been depressingly predictable for months.” The GMB wants the NDA to be scrapped as it currently exists and a Nuclear Development Agency created to make sure Moorside and the accompanying creation of thousands of new jobs and apprenticeships, goes ahead. (2) The skeleton NuGen team is now focused on clinching a deal with Kepco by the end of the year before Toshiba writes the unit off entirely at the end of March 2019. Success will hinge on whether Kepco buys into a new financing approach for nuclear power plants that the government is exploring, known as the regulated asset base (RAB) model. Officials think it could deliver the government’s nuclear ambitions more cheaply for consumers than alternatives.

The RAB approach involves a regulator – in the case of nuclear power stations most likely to be Ofgem – setting a fixed sum for the costs of the scheme, and a fixed return for the project’s backers. Those returns would be funded by energy bill payers. But the model is likely to be ditched if Jeremy Corbyn comes to power. Alan Whitehead, the shadow energy minister, said: “Using customers’ bills to make a bet that construction of such large and complex projects will not overrun in terms of cost or time is a reckless act.” (3)

The Chief Executive of NuGen said he will “fight tooth and nail” to salvage the £15 billion Moorside nuclear power station in an impassioned speech to industry leaders gathered in Cumbria. He says he is fully behind using the RAB model. (4)

 The FT reported that Toshiba had entered talks with Canadian asset manager Brookfield over the potential sale of NuGen. Brookfield bought Westinghouse from Toshiba for $4.6bn in January after the US nuclear business filed for Chapter 11 bankruptcy protection in 2017. (5) But the claims were later rubbished by Toshiba. It added that it was still considering the sale of NuGen to Kepco. (6)

Later NuGen admitted that there are no firm plans to save Moorside. (7)

 Workington Labour MP, Sue Hayman, co-chair of the All Party Parliamentary Group on Nuclear Energy, wrote to the Secretary of State for Business, Greg Clark MP, at the end of July, when NuGen announced it was consulting on job losses, calling on him to guarantee Government support for the project and 20,000 future Cumbrian jobs. Mr Clark said in June that he “will consider direct Government investment” in the proposed Wylfa nuclear power station in Wales, but he has refused to make any similar commitment to Cumbria. In a response to Sue’s letter, energy minister Richard Harrington MP said: “The Secretary of State and I understand the potential importance of the Moorside project to the local area. However (…) the proposed sale of NuGen is principally a commercial matter for Toshiba and it would not be appropriate for me to comment on those ongoing negotiations.” Sue Hayman said: “This Tory government could not care less about the Cumbrian economy, the Moorside project, or the 20,000 future jobs it will bring.” (8)

but he has refused to make any similar commitment to Cumbria. In a response to Sue’s letter, energy minister Richard Harrington MP said: “The Secretary of State and I understand the potential importance of the Moorside project to the local area. However (…) the proposed sale of NuGen is principally a commercial matter for Toshiba and it would not be appropriate for me to comment on those ongoing negotiations.” Sue Hayman said: “This Tory government could not care less about the Cumbrian economy, the Moorside project, or the 20,000 future jobs it will bring.” (8) http://www.no2nuclearpower.org.uk/wp/wp-content/uploads/2018/09/NuClearNewsNo111.pdf

September 29, 2018 Posted by | business and costs, politics, UK | Leave a comment

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