Disastrous economic decline of USA’s nuclear industry
Exelon, the largest nuclear plant owner in the US had a disastrous 3rd quarter. The company’s profits dropped a staggering 51%. Even when sales rebounded in 2009 their income continued to drop
Just about every instance involved economics to some extent. The costs to repair and continue running the reactor vs. the profits from selling power became an unprofitable equation
US Nuclear Industry Meltdown, Simply Info November 14th, 2012 The issues have been lining up for a perfect storm of problems for the nuclear industry lately. It wasn’t just Fukushima that turned the industry on it’s head, many other factors have rocked the industry.
Ft. Calhoun nuclear station in Nebraska that has been shut down since April 2011 when a Missouri river flood threatened the safety of the plant. Continue reading
Low level radiation increased leukaemia risk for nuclear cleanup workers
Chernobyl study shows need for caution in Fukushima
http://www.japantimes.co.jp/text/nn20121114f2.html# UKO27Xhzxqg.twitter Kyodo A study released Thursday by a U.S. research team links protracted exposure to low-level radiation to a higher risk of leukemia among workers engaged in the cleanup of the 1986 Chernobyl nuclear disaster, and points to the need to protect those involved in dealing with the Fukushima crisis.
Continue reading
Costs: that’s what might kill off Britain’s nuclear power industry
Nuclear power risk http://main.omanobserver.om/node/127641 , 13 November 2012 By John McGarrity – Britain’s nuclear power generation future may be at risk as the list of potential operators shrinks due to concerns about the high costs of entry.
The British government wants to build around 10 nuclear power stations by 2025, which it says are necessary to keep the lights on in future decades, reduce dependence on foreign gas and meet tougher carbon targets.
But persuading potential operators to invest in nuclear generation could involve guaranteeing minimum power prices far above what cash-strapped government departments and households would be willing to pay, analysts said.
“The rewards from nuclear are likely to be far below what companies would require to justify this level of investment. The risks are enormous,” Continue reading
Worsening working conditions at Fukushima – Video
NHK Documentary: Recently deteriorating working conditions at Fukushima plant causing workers to quit — Company hasn’t been able to recruit a single employee (VIDEO) http://enenews.com/nhk-documentary-working-conditions-deteriorating-fukushima-plant-many-workers-leaving-company-hasnt-able-recruit-single-worker-video
November 13th, 2012
Title: WANTED: Workers for Fukushima Decommission
Source: NHK
Uploaded by: MissingSky101
Date: Nov 12, 2012
NHK Narrator: This company that manages and maintains nuclear plant
instruments hasn’t been able to recruit a single worker for the plant
since the accident.
Yukiteru Naka, Chairman: If nothing changes there will be no young
workers at the plant in future. I think that’s very clear.
[…]
NHK Reporter: Many workers in areas with high radiation levels are
quitting. They have to leave in around 3 months when their level of
exposure is at the safety limit.
Recently deteriorating working conditions are also making others leave.
As massive sea wall slowly erected, no sign of restart at Japan’s biggest nuclear plant
Four years before Fukushima, the Kashiwazaki-Kariwa plant was damaged by an earthquake, triggering a fire and radiation leaks
Japan’s Tepco sees no quick re-start for biggest nuclear plant Planet Ark, 14-Nov-12 Risa Maeda and Aaron Sheldrick Tokyo Electric Power Co sees no imminent resumption of operations at the world’s biggest nuclear plant, shut down after last year’s Fukushima disaster, further raising its costs as it spends more on fossil fuels to generate electricity.
A wall to protect the 8,212-megawatt Kashiwazaki-Kariwa station’s seven reactors against tsunamis will not be finished until June next year, said Shiro Arai, deputy site manager.
“It is too premature to talk about when reactor restarts will happen,” Continue reading
South Korea’s nuclear export industry at risk, as nuclear scandal widens
South Korea has its own nuclear challenge, Kearney Hub, 12 Nov 12 “….The Republic of Korea’s government has shut down several nuclear reactors after the discovery that safety certificates had been forged for some parts …. ,
public anxiety and criticism has spread rapidly — understandable after the Fukushima nuclear accident when the March 2011 tsunami and earthquake struck Japan. Moreover, South Korea has given high priority to developing a global nuclear export industry.
Several years ago, Korean firms won a $20 billion contract to build four nuclear reactors in the United Arab Emirates. South Korea plans to build 80 nuclear power reactors worldwide, worth an estimated $400 billion, by 2030. This would place the country on a
par with Russia and just behind France — the world leader in nuclear power export. U.S. government officials describe nuclear power as a foreign-trade high priority, along with automobiles, semiconductors and shipbuilding.
The unfolding Korean nuclear scandal doubtless will have regional and global impact. Today, any major production disruption in principal industries has immediate ripple effects. ….
South Korea’s problem occurs at a bad time. Last May, a Beijing summit brought together government officials from China, Japan and Korea to negotiate a new free-trade agreement and sign an initial accord on Promotion, Facilitation and Protection of Investment. …
Low dose radiation increases risk of leukaemia, new research shows
LEUKEMIA RISK INCREASED BY LOW DOSE RADIATION: CHERNOBYL STUDY
http://www.omglobe.com/2012/11/08/leukemia-risk-increased-
by-low-dose-radiation-chernobyl-study/ Lydia Zablotska, MD, PhD 11/8/2012 A 20-year study following 110,645 workers who helped clean up after the 1986 Chernobyl nuclear power plant accident in the former Soviet territory of Ukraine shows that the workers share a significant increased risk of developing leukemia.
The results may help scientists better define cancer risk associated with low doses of radiation from medical diagnostic radiation procedures such as computed tomography scans and other sources.
In the journal Environmental Health Perspectives this week, an international team led by scientists at the University of California, San Francisco (UCSF) and the Chernobyl Research Unit at the Radiation Epidemiology Branch of the National Cancer Institute describes the increased risks of leukemia among these workers between 1986 and 2006.
The risk included a greater-than-expected number of cases of chronic lymphocytic leukemia, which many experts did not consider to be associated with radiation exposure in the past.
The new work is the largest and longest study to date involving Chernobyl cleanup workers who worked at or near the nuclear complex in the aftermath of the accident. Continue reading
Collapses uranium market forces Australian company Paladin to cut back
Paladin freezes expansion Financial Review 08 NOV 2012 Uranium miner Paladin Energy will slash costs by up to $US80 million ($76.97 million) after putting a freeze on development due to the weak uranium price.
Paladin will cuts costs by between $US60 million and $US80 million in fiscal 2013 and 2014, after undertaking an extensive review of costs and production. Continue reading
Shortage of workers at Fukushima – TEPCO fudges the numbers
NHK – TEPCO over-reports number of Fukushima workers http://www.youtube.com/watch?feature=player_embedded&v=Voqq-DYQ48k
NHK: Concerns rising at Fukushima plant — 16,000 workers have quit, ‘severe working conditions’ blamed (VIDEO) http://enenews.com/nhk-concerns-rising-at-fukushima-plant-16000-workers-have-quit-severe-working-conditions-blamed-video
November 5th, 2012
Title: TEPCO over-reports number of Fukushima workers
Source: NHK
Date: Nov. 5, 2012
“Concerns are rising over whether Tepco has secured enough workers to decommission the Fukushima Daiichi nuclear power plant”
[…] NHK found through an interview with TEPCO officials that only 8,000 workers are registered for the job, as of last month.
Earlier, the utility said there would be no manpower shortage as it had secured about 24,000 workers.
But this figure represents the total number of people who have worked at the crippled plant since the accident on March 11 last year.
16,000 workers have already quit the job. Many of them left due to severe working conditions. […]
Uranium mining – a sick industry and getting sicker
Spot uranium price falls below $41/lb U308 on weak demand, good supply Washington (Platts)–6 Nov2012 The spot market price of uranium is now below $41/lb U3O8, according to price publishers TradeTech and Ux Consulting.
And given continued bearish sentiment in the market, some analysts are not ruling out the possibility that the spot price could fall $40/lb before the end of the year. UxC said that the price has not been $40/lb since March 2006.
TradeTech on Friday lowered its weekly spot price to $40.75/lb, down $2.25/lb from its October 26 price. Most of the decline occurred around October 31, TradeTech said, “driven by an increase in the supply” and weaker demand. “Sellers hoping to place material were faced with accepting lower prices well into the first and second quarters of 2013 to conclude transactions,” it said.
TradeTech’s daily price Monday also was $40.75/lb.
UxC on Monday cut its weekly spot price to $40.75/lb, down $1.75 from October 29. UxC said the questions now facing the market are whether the $40/lb support level will be broken and if it holds, what type of rebound in price might the market expect to see.
UxC’s broker average price on Monday was $40.69/lb, down 30 cents from Friday. The BAP bid-offer spread Monday was $40-$41.38/lb. The BAP is based on the price information from Evolution Markets and Armajaro Securities.
The Platts NuclearFuel price range for week was $39.50-$43/lb U3O8….. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/ElectricPower/8889209
Uranium One’s CEO puts a brave spin on gloomy market results
Uranium One’s CEO Discusses Q3 2012 Results – Earnings Call Transcript Seeking Alpha November 6, 2012 “…..This upcoming discussion does contain certain forward-looking information with respect to Uranium One’s operations and financial results. Actual future results may differ from expected results for a variety of reasons which are described in the cautionary statements regarding forward-looking information in our press release..
… during the quarter, we did determine that it would not be economical to mine, the South Zarechnoye satellite deposit due to lower uranium prices following the Fukushima incident together with a decrease in the resource base
resulting from recent exploration work.
As a result, we incurred non-cash expenses $79 million by writing down the carrying value of South Zarechnoye. This resulted in a net loss for the quarter of $61.6 million or $0.06 per share…… Uranium One now owns 100% of the Honeymoon mine
France’s troubled fleet of EDF nuclear reactors
Six weeks left to bring back reactors says EDF, Oct 17, 2012
* One third of EDF’s nuclear power fleet still offline
* Europe faces more fragile supply context this year
* RTE could be forced to clip some demand during peak use
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Reuters, By Marion Douet MONTESQUIEU-DES-ALBERES, France, Oct 17 – French state-owned utility only has six weeks left to ensure its troubled fleet of nuclear power reactors is capable of producing enough electricity to cope with winter demand, the French power grid’s head said on Wednesday.
Around a third of EDF’s 58 nuclear reactors — which are on average 26 years old — have been offline since April due to a maintenance, problems restarting some of the ageing reactors and unexpected outages.
This has led to questions over the energy company’s ability to adequately supply its customers in time this winter with supply already been hit by hitches at French and Belgium reactors……
Uranium One posts 3Q loss despite production increase 11/5/2012 Stockhouse Editorial Uranium One Inc. (TSX: T.UUU, Stock Forum) announced its third quarter financial results on Monday and said total production rose 23% to 3.1 million pounds from 2.5 million pounds in the year earlier period.
Uranium One is a Toronto-based company with assets in Kazakhstan, the United States and Australia…..
The company posted a net loss of $61.6 million or 6 cents a share in the quarter. That compared to a net profit of $45.8 million or 5 cents a share a year earlier. Revenue in the quarter was $142.6 million, down from $157.7 million in the year ago period.
Down 1% Monday to $2, Uranium One has a market cap of $1.9 billion, based on 957.2 million shares outstanding. The 52-week range is $3.45 and $1.98. http://www.stockhouse.com/natural-resources-news/2012/nov/5/uranium-one-posts-3q-loss-despite-production-incre.aspx#uEqGXOEW55vDjfL4.99
How the UK’s new nuclear deal with Hitachi just can’t really work
Another shotgun wedding for the UK nuclear lob
by daryanenergyblog November 3, 2012 “…….There is a proposal in Japan for a referendum on Nuclear energy with three options on the table . Option one is 30% of Japanese electricity from nuclear (essentially business as usual but with a cap on future nuclear growth). Option two is 15% (many older reactors near fault lines closed, some new reactors later but only as a replacement for plants taken out of service and not on a like for like basis) and option three is 0% (a phase out of nuclear energy completely, which as I’ve previously shown is feasible). The Japanese government seems to favour the middle option but opinion polls suggest that it might be the zero nuclear option. Either of these last two would mean a massive cut in nuclear reactor orders in Japan, if not a complete halt.
So naturally Hitachi are having to hedge their bets and look overseas for buyers of their wares. This would explain the choice of reactors. While previously the Horizon deal had focused on French or American designed PWR‘s (Pressurised Water Reactor), Hitachi seem to be keen on BWR‘s (Boiling Water Reactor), notably their own brand ABWR reactoror the as of yet untested ESBWR. However, these reactors have never been certified for use in the UK. It will take a few years to get that paper work cleared and redesign the reactors as required. There have also been some technical problems with the ABWR‘swhich has led to them providing a much lower level than expected level of reliability and on-grid availability (as this table from the IAEA illustrates).
Also, the UK engineering firms will need time to plan for this change in reactor. While thebulk of reactor cores world wide might well come from the Japanese Steel Works (JSW) on Hokkaido Island, the majority of any UK based ABWR (the steam turbines, heat exchangers and auxiliary equipment) will be build by other contractors many here in the UK, notably companies such as Forgemasters and Rolls Royce. They need to be given time to retool and book spots on the production line before any plant can be built. Also there is a waiting list in JSW and by switching reactor types the UK may have just lost its place in the queue.
A Looming Energy Gap
This will explain why Hitachi are talking about a delivery date of the first new plant in the mid to early 2020′s. However, by this date the UK nuclear fleet will be down to between 1 and 3 reactors (Torness and Heysham retire in 2023, further Torness is in Scotland which may not be part of the UK by that date!) and a capacity of between 1,200 – 3,700 MW, from a present capacity of 10,500 MW and a former peak of 14,000 MW. While Hitachi seem to be proposing 6 reactors, it will take at least a decade or two (or three!) to bring this capacity online and even 6 ABWR’s would still fall well short of the historical maximum installed capacity (about 40% short in fact)…… http://daryanenergyblog.wordpress.com/2012/11/03/shotgun-wedding-hitachi-uk-nuclear/
Cancellation of Finland’s nuclear project likely, as Europe retreats from nuclear power
“It is entirely possible that Finland’s Fennovoima project will fail as a result of EON’s exit,”
“A cancellation of the project seems very likely.”
Utilities are pulling out of nuclear projects across Europe as financial constraints and uncertainty over energy prices increases risk.
EON Exit From Finnish Nuclear Reactor May Trigger Failure Bloomberg, By Torsten Fagerholm – Nov 1, EON AG (EOAN)’s plan to pull out of a joint venture that’s building a nuclear reactor in Finland increases the risk that the project may fail, thwarting the government’s plans to cut reliance on energy imports. Continue reading
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