Downturn in prospects for nuclear power is shocking the industry
CNBC: Nuclear power has taken a beating — Engulfed by ‘cauldron of events’ — Staggering change from just a few years ago — Not many had forecast it would “all go wrong at once” http://enenews.com/cnbc-nuclear-power-beating-engulfed-cauldron-events-staggering-change-years-many-forecast-all-wrong
Title: Nuclear Power Falters, Engulfed by ‘Cauldron’ of Bad Luck
Source: CNBC
Author: Javier E. David
Date: May 13, 2013
Nuclear Power Falters, Engulfed by ‘Cauldron’ of Bad Luck
Once touted as a successor, or at least a competitor, to carbon-based power, the nuclear sector has taken a beating as the momentum behind new projects stalls and enthusiasm for domestic fossil fuel production grows.
Across the country, plans to build nuclear plants have hit roadblocks recently—a sharp turn for a sector that just a few years ago was looking forward to a renaissance. […]
The change in nuclear’s fortunes is staggering, given that the U.S. is the world’s largest producer of nuclear power […]
Peter Bradford, a law professor and a former member of the Nuclear Regulatory Commission
“Starting about four years ago, the industry felt it was in the middle of a renaissance”
“They’ve gone from that high-water mark to a point at which … we’re actually seeing the closing of a few operating plants, which was unthinkable even a few years ago”
[He] cited a “cauldron of events” for bringing the nuclear push to a standstill
“I don’t think there were many of us that forecast they would all go wrong at once”
“We don’t fight world hunger with caviar, and we’re not going to fight climate change with outlandishly expensive energy sources”
See also: “Inevitable nuclear power exit” in U.S.? Bulletin of Atomic Scientists exposes “dismal” and “extremely unattractive” situation
Britain’s nuclear power plans in disarray?
Centrica stokes energy fears by revealing EDF nuclear timescale has doubled Centrica has ratcheted up fears over Britain’s energy security by warning that its rival EDF will take twice as long as originally planned to build the first of a new generation of nuclear power stations. The Telegraph, By Emily Gosden 13 May 2013 The British Gas owner abandoned its 20pc stake in the £14bn project at Hinkley Point in February, opting instead to give £500m back to shareholders and invest in gas in North America.
Sir Roger Carr, Centrica chairman, told its AGM on Monday that since it first considered the project the price had “rocketed hugely”, adding: “Nuclear is not a cheap option.”
Sam Laidlaw, chief executive, said: “Not only had the cost increased but also the schedule had lengthened very considerably. So instead of taking four to five years to build, EDF were telling us that it was going to take nine to 10 years to build. That is a long time to be writing out a cheque for this project.”
He added: “EDF’s agenda is different to ours. They are 85pc owned by the French government, they are using French technology and they see nuclear as a core part of their strategy going forward. Our strategy is to have customers at our core and provide the lowest cost low-carbon energy for our customers.”
Centrica later added that he was referring to the timescale for the whole project, not just construction. EDF declined to comment. The French company is in talks with the Government over the financial terms for Hinkley Point. Energy minister Michael Fallon last week said they were “inching” closer but warned there may be no agreement.
EDF wants a guaranteed price for the electricity it will generate for up to 40 years, subsidised by levies on consumer energy bills. Rival companies SSE and Npower have urged ministers not to proceed with the deal…….. http://www.telegraph.co.uk/finance/newsbysector/energy/10055107/Centrica-stokes-energy-fears-by-revealing-EDF-nuclear-timescale-has-doubled.html
A win for Friends of the Earth, as NRC rules a delay to restarting San Onofre nuclear plant
Regulatory panel delivers setback to restart plans for San Onofre nuclear plant http://www.scpr.org/news/2013/05/13/37250/regulatory-panel-delivers-setback-to-restart-plans/ Ben Bergman | May 13th, 2013 Southern California Edison’s plan to restart the San Onofre nuclear power plant was dealt a setback today by federal regulators when it recommended the utility must go through a licensing review process before the plant can be restarted. Read the findings below.
The decision – if it stands – could potentially delay a restart of the facility for years.
Ever since San Onofre closed in January 2012, Edison has been trying to get the plant re-started as quickly as possible.
Environmental groups have wanted the opposite. And now they may have gotten their wish of grinding the process to a halt. “This is a complete victory,” said Bill Walker, spokesman for Friends of the Earth. That’s the environmental group that petitioned regulators to require Edison to go through a lengthy judicial-style license review before restarting the plant.
The Atomic Safety and Licensing Board – part of the Nuclear Regulatory Commission (NRC) – sided with the group Monday. “The ruling assures there will be a trial-like formal process with a judge where we and the public will have our day in court,” said Walker.
Edison would only say it’s reviewing the decision. It will most certainly file an appeal.
And, the NRC cautions that environmental groups shouldn’t pop the champagne yet. The agency’s staff could still approve Edison’s re-start plan, before any judicial hearings.
MEMORANDUM AND ORDER by the Atomic Safety and Licensing Board Panel
Russia’s grand ambition for global nuclear technology sales
Russia to emerging countries: We’ll build, operate your nuclear reactors Smart Planet, By Mark Halper | May 13, 2013, “…..State nuclear power company Rosatom, “Is offering a special package deal to build and operate nuclear power stations abroad in a bid to win business from developing countries, a company official was quoted on Monday as saying,” Reuters reports. “The offer to ‘Build, Own, Operate’ (BOO), also includes financing to countries seeking to build nuclear plants.”
Rosatom, which competes against the likes of Toshiba’s Westinghouse subsidiary and France’s Areva to construct reactors around the world, has in the past handed over the day-to-day operations of finished reactors to utilities. Now, it’s offering to hang around on site after completion.
“Under the BOO model, Rosatom not only builds the nuclear plant, but also owns it and runs it for up to sixty years,” Reuters writes, citing French publication Le Figaro. “Rosatom also delivers nuclear fuel to the plants.”
“With this model, we are fully responsible for the plant’s security,” Le Figaro quoted Rosatom deputy CEO Nikolai Spassky as saying…… http://www.smartplanet.com/blog/bulletin/russia-to-emerging-countries-well-build-operate-your-nuclear-reactors/19573
Fukushima remains critically dangerous: Japan markets its nuclear technology
The Nuclear Regulation Authority has just started studying how the 3/11 quake affected the Fukushima nuclear power plant. Mr. Abe is pushing the export of nuclear power plants before the effect of quakes is fully understood. Such a policy is irresponsible.
Export of nuclear technology http://www.japantimes.co.jp/opinion/2013/05/14/editorials/export-of-nuclear-technology/#.UZL05qJwpLs Editorial, MAY 14, 2013 In his recent visits abroad, Prime Minister Shinzo Abe signed agreements with the United Arab Emirates and Turkey that will enable the export of Japanese nuclear power plant technology to them. The Abe administration is also pushing talks to facilitate the conclusion of similar agreements with Saudi Arabia and Brazil.
Mr. Abe is trying to promote the export of nuclear technology at a time when the nuclear crisis at Tokyo Electric Power Co.’s Fukushima No. 1 nuclear power plant remains ongoing and many Fukushima residents still live in fear of exposure to radioactive substances released by the plant. Some 150,000 of them still cannot return to their homes and communities due to radioactive contamination. In addition, important questions concerning the cause of the Fukushima nuclear crisis have yet to be resolved despite the studies by investigation committees set up by the government and the Diet. Continue reading
Nuclear industry’s battle against public opinion and rising costs
Platts Survey: High Capital Costs and Maintaining Public Confidence Cited as Greatest Challenges Facing European Nuclear Power Markets Sacramento Bee, May. 9, 2013 -LONDON, May 8, 2013 – /PRNewswire/ — High capital costs and maintaining public confidence are seen as the greatest challenges facing the European nuclear power industry, according to a recent survey conducted by Platts, a leading global energy, petrochemical and metals information provider. The survey included more than 100 utilities, builders, consultancies, and regulators in Europe and precedes the eighth annualPlatts European Nuclear Power Conference set for June 26-27 in Warsaw, Poland.
Political risk, long construction periods, regulatory uncertainty and safety concerns were also highlighted as key hurdles before the Continent’s nuclear power companies.
“While most of these challenges are traditional to the industry and likely always will be, they’ll likely be heightened as new units, particularly those using new designs, are built,” said Platts Chief Editor of nuclear publications Tom Harrison, who reviewed the survey results. “Currently these challenges are being viewed in a particular context, one of: increased concerns about climate change, the pursuit of energy diversity, cost/benefit of competing generating sources, and attention to safety and its costs in the wake of the 2011 Fukushima nuclear accident.”
A newer aspect to these challenges, Harrison explained, is that reactor vendors and other suppliers competing for new export opportunities are exploring new ways of packaging deals as nuclear power programs are introduced in other countries.
Industry supporters and detractors are expected to watch closely the first new nuclear projects in Europe to see how they fare as they encounter those political, financial, regulatory and safety issues…… http://www.sacbee.com/2013/05/09/5406980/platts-survey-high-capital-costs.html
Radiation risks to health staff from nuclear medical imaging
What to do when the patient is hot http://www.theheart.org/article/1535927.do 7 May 13, MAY 7, 2013 Shelley Wood Boston, MA – Patients who’ve had a nuclear imaging study with radioactive tracers become, themselves, radiation emitters—something that hospital staff should keep in mind, say researchers in a new analysis trying to quantify that risk. Their research letter is published today in the Journal of the American College of Cardiology [1]. Continue reading
Prme Minister Abe signing Turkey up to buy Japanese nuclear technology
it’s a bit dodgy to buy from Mitsubishi Heavy Industries, who built the Fukushima nuclear reactors
Japan signs Turkey nuclear deal, BBC News 4 May 13, Shinzo Abe signed the deal in Turkey with Prime Minister Recep Tayyip Erdogan The Turkish government has signed a deal with a Japanese-French consortium to build a new nuclear power station.
The $22bn (£14bn) contract is Japan’s first successful bid for an overseas nuclear project since a tsunami wrecked the Fukushima power station.
The deal was signed by visiting Japanese Prime Minister Shinzo Abe.
Turkish Prime Minister Recep Tayyip Erdogan said it would transform relations with Japan into a “strategic partnership”.
“What happened at Fukushima upset all of us. But these things can happen. Life goes on. Successful steps are being taken now with the use of improved technology,” the Turkish prime minister added.
The deal comes as part of renewed efforts to promote Japanese nuclear technologies abroad, despite concerns over safety. One of the Japanese firms included in the consortium is Mitsubishi Heavy Industries, one of the companies behind the Fukushima plant damaged in the 2011 earthquake and tsunami.
Turkey is also prone to earthquakes, and the government cited Japan’s expertise in earthquake protection as one of the factors in signing the deal……http://www.bbc.co.uk/news/business-22398356
The $billion cost of Repairs to the Oconee Nuclear Plant
Will Repairs to the Oconee Nuclear Plant Cost Duke Energy a Billion Dollars?, http://www.huffingtonpost.com/philip-radford/will-repairs-to-the-ocone_b_3208859.html Philip Radford, 3 May 13 Duke Energy and government regulators have been hiding a not-so-little secret from the people of the Carolinas. Duke’s Oconee nuclear power plant, three aged nuclear reactors 30 miles from Greenville, SC, isat risk of a meltdown should an upstream dam fail. If that were to happen, a meltdown of all three reactors on the scale of the Fukushima meltdowns and subsequent containment failure are virtual certainties according to U.S. Nuclear Regulatory Commission (NRC) documents obtained by Greenpeace .
We’ve also received a tip that the cost to upgrade the Oconee nuclear plant site to address this triple meltdown threat would cost Duke Energy a billion dollars.
A billion dollars.
So at Duke Energy’s annual shareholder meeting yesterday in Charlotte, NC, I asked Duke CEO Jim Rogers a question about his company’s dangerous nuke plants and the billion dollar cost to protect and upgrade. Tellingly, Jim Rogers did not dispute the billion dollar price tag nor the need to better defend Oconee from flood waters….. It’s worth noting that Mr. Rogers didn’t deny the potential billion dollar price tag of the Oconee repairs. Even for Duke, that’s a serious amount of money.
I wonder if Duke’s shareholders know that the company could end up being on the hook for that kind of a pricey fix? Greenpeace appreciates Mr. Rogers acknowledging the threat to Oconee and the enormous expense of fixing it. If Rogers wants to do the most fiscally prudent thing for Duke’s investors, he should retire the reactors. Duke and its regulators have known about this threat for decades and have utterly failed to address it. While regulation of nuclear power can be very complex, the issue at Oconee is pretty simple to understand. As you can read here, the potential flood height at Duke Energy’s Oconee nuclear plant is well above the height of Oconee’s flood walls leaving important safety equipment vulnerable.
Does this sound familiar? It should. In Japan, the nuclear industry knew that the flood wall at Fukushima was too low and did nothing about it there either.
Other nuclear laden electric corporations face steep costs to upgrade old and dangerous reactors. Dominion recently testified that Fukushima fixes would cost their corporation between $30 and $40 million. But the billion dollar price tag to reduce the risks at Oconee is truly staggering. Rather than wasting a billion dollars on old reactors that will never be safe, Duke Energy should invest in renewable energy and efficiency. Wind turbines and solar panels don’t threaten the Carolinas with the prospect of nuclear meltdowns.
Crash go earnings and share price for uranium miner Cameco
Cameco Profit Trails Analysts’ Estimates as Uranium Price Drops http://www.bloomberg.com/news/2013-05-01/cameco-profit-trails-analysts-estimates-as-uranium-price-drops.html By Christopher Donville – May 1, 2013 Cameco Corp. (CCO), the world’s third- largest uranium producer, reported first-quarter profit and revenue that trailed analysts’ estimates after a decline in the price of the raw material in nuclear-reactor fuel.
Net income fell to C$9 million ($8.9 million), or 2 cents a share, from C$129 million, or 33 cents, a year earlier, Saskatoon, Saskatchewan-based Cameco said today in a statement. Profit excluding one-time items was 7 cents a share, missing the 8-cent average of 14 estimates compiled by Bloomberg. Sales declined to C$444 million from C$466 million, less than the C$473 million average of six estimates.The price of uranium for immediate delivery has slumped 40 percent since the March 11, 2011, earthquake and tsunami in Japan led to a meltdown at Tokyo Electric Power Co.’s Fukushima Dai-Ichi nuclear power plant. In response to the disaster, Japan suspended its fleet of reactors while Germany canceled license extensions, shut down some of its oldest nuclear plants and ordered the others close by 2022.
“Fukushima is still a major factor in the uranium market,” Rob Chang, a Toronto-based analyst at Cantor Fitzgerald LP, said in a telephone interview before the results were released. “On top of that, commodity prices around the world have been dragged down by worries about global growth and Chinese demand for raw materials.”
Kazatomprom, Kazakhstan’s state-owned producer, and Paris- based Areva SA (AREVA) are the biggest uranium miners, according to the World Nuclear Association.
(Cameco scheduled a conference call to discuss results at 1 p.m. New York time at +1-877-240-9772or +1-416-340-8530.)
93% fall in earnings so far this year, for uranium mining company
Earnings down for Saskatoon uranium giant CBC News May 1, 2013 Lower sales, lower prices and higher costs pushed down first quarter results at Cameco.
So far this year, the Saskatoon-based uranium company earned $9 million — down 93 per cent from the $129 million Cameco made in the first quarter of 2012……
The company recently laid off a number of staff at its Saskatoon headquarters.
Cameco said most of the power utilities that buy its nuclear products are locked into contracts until 2016….. http://www.cbc.ca/news/canada/saskatchewan/story/2013/05/01/saskatoon-cameco-earnings.html
Japan’s Prime Minister on nuclear selling spree in Dubai
Japan, UAE set to sign nuclear agreement as Abe visits, Global Post, 2 May 13, Japan and the United Arab Emirates are set to sign a nuclear agreement on Thursday as Japanese Prime Minister Shinzo Abe, who is visiting the country, pushes his bid to sell Japanese nuclear technology overseas.
The two countries’ representatives will ink the deal following a meeting between Abe and UAE Vice President and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum in Dubai.
Abe, since assuming his post last December, has promoted the exports of Japanese infrastructure, such as nuclear power plants, as a key pillar of the government’s growth strategies aimed at revitalizing the Japanese economy……. http://www.globalpost.com/dispatch/news/kyodo-news-international/130502/japan-uae-set-sign-nuclear-agreement-abe-visits
Duke Energy pulls out of building 2 new nuclear reactors
Duke Energy suspends licensing for nuclear reactors near Raleigh Charlotte Business Journal, by John Downey, 2 May 13, Duke Energy Corp. has asked federal regulators to suspend its application to build two 1,017-megawatt nuclear units at its Shearon Harris nuclear plant near Raleigh. Dhiaa Jamil, president of Duke Energy Nuclear, cites slowing growth in demand for electricity as the reason for the decision….. The decision is the latest sign that the once-touted “nuclear renaissance” is faltering in the United States. …. http://www.bizjournals.com/charlotte/blog/power_city/2013/05/duke-energy-suspends-licensing-for.html
Non operational San Onofre nuclear plant costing $millions
Costs for idling California nuclear plant soar above $550M Fox news, April 30, 2013 LOS ANGELES – Costs tied to the idling of California’s San Onofre nuclear power plant have climbed to $553 million, while the majority owner raised the possibility Tuesday of retiring the plant if it can’t get one reactor running later this year.
The plant between San Diego and Los Angeles has not produced electricity since January 2012, when a tiny radiation leak led to the discovery of unusual damage to hundreds of tubes that carry radioactive water.
Edison International — the parent company of operator Southern California Edison — reported Tuesday that $109 million has been spent through March 31 on repairs and inspections, while $444 million was needed for replacement power…. The problems at San Onofre center on steam generators that were installed during a $670 million overhaul in 2009 and 2010. After the plant was shut down, tests found some generator tubes were so badly eroded that they could fail and possibly release radiation, a stunning finding inside the nearly new equipment.
The generators, which resemble massive steel fire hydrants, control heat in the reactors and operate something like a car’s radiator. At San Onofre, each one stands 65 feet high, weighs 1.3 million pounds and has 9,727 U-shaped tubes inside, each 0.75 inch in diameter. Hundreds of the tubes have been taken out of service because of damage or as a preventative step. http://www.foxnews.com/us/2013/04/30/costs-for-idling-california-nuclear-plant-soar-above-550m/#ixzz2S5Daz1Of
Japanese power companies post $16 billion loss
Electricity companies post $16 billion loss as nuclear reactors remain offline HTTP://JAPANDAILYPRESS.COM/ELECTRICITY-COMPANIES-POST-16-BILLION-LOSS-AS-NUCLEAR-REACTORS-REMAIN-OFFLINE-0128034 MAY 1, 2013 by IDA TORRE THEY ONCE WERE THE MIGHTIEST ENTITIES IN JAPAN, BUT NOW POWER UTILITY COMPANIES ARE FACING A SECOND STRAIGHT YEAR OF COMBINED LOSSES OF 16 BILLION DOLLARS, AMIDST THE DELAYS IN THE RESTART OF THEIR NUCLEAR REACTORS, PLUS THE RISING COSTS OF IMPORTING FOSSIL FUEL DUE TO THE WEAKER YEN. NOW THEY WOULD HAVE TO EITHER RAISE CONSUMER PRICES OR SEEK FURTHER GOVERNMENT ASSISTANCE JUST TO KEEP AFLOAT. Continue reading
1 This Month
of the week– Nuclear Reactor Information Task Force
14 May – online event From Bombs to Data Centres: the Face of Nuclear Colonialism
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