Nuclear energy capacity growth slowing after Fukushima: IAEA (Reuters)
26 Sept 12- The U.N. atomic agency cut its forecast for nuclear energy
growth for a second year as the industry continued to feel the effect
of the Fukushima disaster in Japan and said most of the expansion
would be in Asia.
The International Atomic Energy Agency (IAEA) said its projection for
global nuclear generating capacity by 2030 was down between one and
nine percent compared with last year.
Against expectations before the March 2011 earthquake and tsunami in
Japan, the projections are between eight and 16 percent lower.
Poorly paid, dangerous, work of nuclear sub-contracted workers
Desirability of nuclear power is the real question, THE HINDU, 28 Sept 12
MADHUMITA DUTTA“……In France, over 20,000-30,000 workers dubbed as “nuclear nomads” are subcontracted annually in the 58 nuclear reactors operated by Électricité de France S.A. (EDF) located in 20 sites which contribute 78 per cent of the electricity produced in the country.
EDF subcontracts over 1,000 companies, who employ the “nuclear nomads,” sometimes of foreign origin, to do the dangerous maintenance, repair and clean-up work in these plants, exposing them to ionising radiations. In her book “Nuclear Servitude: Subcontracting and Health in the French Civil Nuclear Industry,” French social scientist Annie Thébaud-Mony has highlighted this division of labour and “risk” by subcontracting dangerous work in the French nuclear power industry.
In the aftermath of the Fukushima disaster, over 18,000 workers were hired to clean-up the power plant, who were all subcontracted to do dangerous radioactive clean-up work. These men, hailed as “national heroes” by many, were actually local residents rendered unemployed by the disaster or were daily wagers from city slums.
Since the 1970s, Japan has had a dubious track record of subcontracting maintenance
work of reactors to outside companies which hire workers on a short-term basis who remain employed till they reach their radiation exposure limit (Nuclear Nomads: A look at the Sub-contracted Heroes by Gabrielle Hecht in The Bulletin of the Atomic Scientists, January 9, 2012)…. http://www.thehindu.com/opinion/op-ed/desirability-of-nuclear-power-is-the-real-question/article3939373.ece
Uranium not a wise investment
the message remains that Japan is moving away from nuclear power in a big way.
Japan’s decision can only be described as a huge one with major effects on commodities markets….. [Japan’s] loss will negatively affect demand for uranium
That may mean more years of grief for long-suffering Cameco shareholders.
investors would be smart to invest in the companies benefiting from the change, rather than hoping that somehow nuclear power makes a big comeback.
Japan Says Sayonara to Nuclear Power The Motley Fool, By Tony Daltorio – September 24, 2012 It is 18 months since the disaster at the Fukushima nuclear power plant, and finally, the Japanese government has made a decision about the future of nuclear power in the country. The government has stated that it will phase out nuclear power entirely by 2040. This would make Japan the second major country, after Germany, to announce such a withdrawal from nuclear power. Continue reading
Uranium industry not viable: production costs exceed revenue
Nuclear Energy’s Limp Causing Uranium Prices to Stumble Forbes 24 Sept 12 When the March 2011 earthquake and tsunami knocked out Japan’s Fukushima nuclear reactors, they also took down the price of uranium. The hesitance to resume nuclear operations not only in Japan but also elsewhere in the world has caused the demand for the nuclear feedstock to diminish.
Indeed, uranium prices have fallen from about $68 a ton before the nuclear crisis to $47 a ton as of September 2012, which is the lowest they have been in two years. ….
“Overall, the uranium market conditions continues to be in wait and see mode as utilities are generally well covered for the next few years, and suppliers are similarly heavily committed,” says Cameco, in its quarterly report to shareholders.
It’s expected to be a long two or three years before uranium prices pick back up. Earlier this month, Japan’s government said that it would end its use of nuclear energy by 2030. Meantime, Germany has said it would also phase out its nuclear program while Italy and
Switzerland have expressed similar sentiments.
Cameco, for example, has said that uranium prices must reach their pre-Fukushima levels before development would become profitable.
Meanwhile, BHP Billiton Mitsubishi Alliance just said that it would cease production at one of its Australian mines, noting that it was no long a viable concern in today’s pricing environment. BHP says that production costs exceed revenue from product sales.
Doom and gloom for the uranium industry – no improvement in sight
End of last month, the price had fallen to US$49.25 and for most of September, it hovered at the US$48 mark. This is almost 60% below the entry level target as calculated by Bannerman. The impact on the development of new mines, is obvious.
I believe the commodities boom is over, or at least on hold for another five years. In the meantime, no new mines.
Our Anticipated Uranium Projects Will Not Go Ahead, Except One [analysis] Equities.com Daniel Steinmann All Africa Global Media 22 Sept12, Bannerman Resources, the Australian company driving one of four new uranium projects in Namibia, recently said at a mining conference, the price for uranium U308 needs to be between US$75 and US$90 per pound (0.454kg) to drive any new investment in greenfields uranium mines.
Hidden in this seemingly neutral observation and analysis, are many serious consequences for the further development of the uranium sector Continue reading
Fort Calhoun nuclear repairs: Exelon Corporation to get $millions from Omaha Public Power District
NE: Nuke plant fixer to get millions September 20, 2012 Joe Jordan | Nebraska Watchdog OMAHA—The price-tag to get the troubled nuclear power plant at Fort Calhoun up and running after nearly 18 months is in, and it’s loaded with zeroes.
Nebraska Watchdog has learned that the Omaha Public Power District—unable to get the reactor on line itself—is shelling out $400 million to a private firm, Exelon Corp.
Exelon will be paid $20 million a year for the next 20 years, according to information released by OPPD.
Nebraska Watchdog requested but was denied copies of contracts between the utility and Exelon.
OPPD said state law covering confidential information—involving trade secrets, academic and scientific research—allows those contracts to “be withheld from the public.”
OPPD did provide a “summary of key provisions of the Exelon agreements” information that included the $400 million payout….. The Fort Calhoun plant is still on the shelf and OPPD officials believe Exelon will get the reactor running sooner than later.
The Nuclear Regulatory Commission, which has the final say over start-up, has given no indication when the plant will be back on-line. http://watchdog.org/56953/ne-troubled-nuke-plant-costing-millions/
Atmosphere of gloom about the future of the uranium industry
[Cameco] now finds itself selling some of its output below the cost of production.
China continues to review approvals for new reactors amid concerns about safety
Uranium outlook bleak, Rebound two years off estimates BLOOMBERG NEWS SEPTEMBER 20, 2012 Uranium’s rebound from the Fukushima nuclear accident may take one or two years longer than analysts estimated, prolonging the languishing recovery of Cameco, whose stock price has lost half its value since the March 2011 tragedy.
Just a month before the tsunami struck, shares were trading at $42.39. Wednesday they closed at $21.01.
The price of uranium for immediate delivery declined to $47 a pound as of Sept. 17, its lowest in two years, according to Ux Consulting, a Roswell, Ga.-based uranium information provider.
BHP Billiton Ltd. and Paladin Energy Ltd. have slowed or deferred development this year of some projects to produce the raw material in nuclear reactor fuel…… Continue reading
Ratepayers to pay over 10 years for Fort Calhoun nuclear plant repairs
Neb. utility pays nuclear rehab cost over 10 years http://fremonttribune.com/news/state-and-regional/neb-utility-pays-nuclear-rehab-cost-over-years/article_b49cd0e8-f4bc-5120-a170-2d7ea5ba652b.html 20 Sept 12, The Nebraska utility that owns the troubled Fort Calhoun nuclear power plant has decided to spread out the cost of repairs at the plant over 10 years to lessen the immediate impact on rates. Continue reading
And down down again goes the price of uranium
Uranium Recovery Postponed as Price Drops to 2-Year Low Bloomberg, By Christopher Donville – Sep 19, 2012 Uranium’s recovery from the Fukushima nuclear accident may take one or two years longer than analysts estimated as stockpiles in Japan and Germany keep prices low and cause mining companies to defer new development.
The price of uranium for immediate delivery declined to $47 a pound as of Sept. 17, its lowest in two years, according to Ux Consulting, a Roswell, Georgia-based uranium information provider.BHP Billiton Ltd. (BHP) and Paladin Energy Ltd. (PDN) have slowed or deferred development this year of some projects to produce the raw material in nuclear reactor fuel……
BHP, the world’s largest mining company, last month put on hold an expansion that would make its Olympic Dam project in Australia the biggest uranium mine.
Cameco Corp. (CCO), the world’s third-largest producer, said in July that its Kintyre uranium project in Australia would need a $67 uranium price to be economical. The company sold uranium for $42 a pound during the second quarter..
… Paladin, an Australian company that mines uranium in Africa , is delaying a feasibility study on phase four of its Langer Heinrich mine in Namibia , the company said on a conference call in May….Dustin Garrow, Paladin’s executive general manager of marketing.: “You’d have to see $85 uranium on a sustained basis to justify construction of new mines ..”
$352 billion the minimum cost to fix up USA’s Los Alamos nuclear arsenal
A study this summer by the nonpartisan Stimson Center, a Washington think tank, estimated costs would be at least $352 billion over the coming decade to operate and modernize the current arsenal. Others say the figure could be far higher, particularly if the work is delayed even longer.
Aging U.S. nuclear arsenal slated for costly and long-delayed modernization WP, By Dana Priest, September 15 The U.S. nuclear arsenal, the most powerful but indiscriminate class of weapons ever created, is set to undergo the costliest overhaul in its history, even as the military faces spending cuts to its conventional arms programs at a time of fiscal crisis.
For two decades, U.S. administrations have confronted the decrepit, neglected state of the aging nuclear weapons complex. Yet officials have repeatedly put off sinking huge sums into projects that receive little public recognition, driving up the costs even further. Now, as the nation struggles to emerge from the worst recession of the postwar era and Congress faces an end-of-year deadline to avoid $1.2 trillion in automatic cuts to the federal budget over 10 years, the Obama administration is overseeing the gargantuan task of modernizing the nuclear arsenal to keep it safe and reliable.
There is no official price tag for the effort to upgrade and maintain the 5,113 warheads in the inventory, to replace old delivery systems and to renovate the aging facilities where nuclear work is performed. Continue reading
Japan insurance company won’t cover damage caused by nuclear fuel material
Insurance company “no coverage for damage caused by nuclear fuel material” http://fukushima-diary.com/2012/09/insurance-company-no-coverage-for-damage-caused-by-nuclear-fuel-material/ by Mochizuki September 15th, 2012 ·
A Japanese posted tweeted like this below,
<Translate>
Recently insurance company adds this item on their instruction.
“We won’t pay insurance for the damage caused by nuclear fuel material.”
<End>
We need to verify how it was before 311.
Closing Fessenheim nuclear plant will create jobs for French workers
Speaking on French television, Labor Minister Michel Sapin said the closure of Fessenheim would actually create jobs as it would take years of specialized work to dismantle the plant.
EDF denies seeking $2.6 billion for Fessenheim closure (Reuters) Reporting by Vicky Buffery; editing by Anthony Barker, Hans-Juergen Peters, Gary Crosse 16 Sept 12, – French power group EDF denied it had requested compensation from the government over its decision to close the state-controlled energy company’s Fessenheim nuclear power
plant. Continue reading
More costs, more delays, for French nuclear plants, Flamanville, Olkiluoto
EDF forecasts further delays and increased costs at new French nuclear
plant http://www.hazardexonthenet.net/article/53114/EDF-forecasts-further-delays-and-increased-costs-at-new-French-nuclear-plant.aspx?AreaID=2 12 September 2012
Electricité de France (EDF) said in July that the new nuclear power station being built at the Flamanville site on the Normandy coast is now expected to open in 2016 and cost €6bn ($7.34bn), instead of the original starting date of 2012 and cost of €3.3bn. Continue reading
Quebec to close down its nuclear reactor
Quebec will close, rather than refurbish, its only nuclear reactor. Montreal Gazette, 12 Set 12, Nearly 30 years after it went into operation, it appears the days are numbered for Quebec’s only operating nuclear power plant.
A spokesperson for the Parti Québécois said the newly-elected government will go ahead with a plan to close Gentilly-2 in Bécancour. The party has wanted to do it since December 2009, Éric Gamache said….
. Gordon Edwards, a mathematician and president of the Canadian Coalition for Nuclear Responsibility, said after it is closed, Gentilly-2 could be transformed into a centre of expertise on dismantling nuclear power plants. Nearly 100 nuclear power plants in
the U.S. will soon come to the end of their natural life, creating a “great” opportunity for Trois-Rivières, he said. http://blogs.montrealgazette.com/2012/09/12/parti-quebecois-says-it-will-keep-promise-to-close-gentilly-2-nuclear-power-plant/
Repairs to nuclear plants getting more costly – not viable?
Nuclear Repairs No Easy Sale as Cheap Gas Hits Utilities Bloomberg, By Julie Johnsson – Sep 11, 2012 A damaged Florida nuclear plant that spurred a boardroom coup at Duke Energy Corp. (DUK)in July risks getting scrapped unless the power company can justify spending more than $1.3 billion on the costliest-ever U.S. atomic repair……
Rising Risks The dispute underscores the stakes for U.S. power companies weighing nuclear investments against falling power prices and risks that plants won’t be relicensed or may close prematurely. Regulators haven’t approved Duke’s plans to pass repair expenses on to clients, and decommissioning costs haven’t been tallied.
Edison International (EIX) faces a similar decision with its 30- year-old San Onofre atomic station near Los Angeles , shut down since January because of leaks and unusual wear to its steam generators.
The surplus of gas-fired power plants in the western U.S. weakens the case for repairing and restarting San Onofre’s twin reactors. “The argument that ratepayers need to keep supporting Grandma lasts for about 15 seconds,” John Geesman, a former California energy commissioner, said in a phone interview. He serves as outside counsel for the Alliance for Nuclear Responsibility, which has lobbied the state to keep that plant idle…..
Oyster Creek Exelon Corp. (EXC) of Chicago decided in 2010 that it was more economical to close its Oyster Creek reactor in Forked River, New Jersey , when its license expired in 2019 than spend as much as $801 million to build a cooling tower demanded by state officials.
Duke’s board faces a more complicated analysis as it decides the best approach to its Crystal River plant, 80 miles (129 kilometers) north of Tampa.
The silo-shaped concrete building that houses the Crystal River 3 reactor cracked in 2009 as crews replaced the steam generators, huge pipe assemblies that transfer heat from the nuclear reactor to power-generating turbines. Once the damaged panel was patched, two other sections cracked in March and July 2011 after workers tightened steel tendons intended to strengthen the structure.
“We’re not joking when we call it the Humpty Dumpty reactor,” Stephen Smith , executive director of the Southern Alliance for Clean Energy, said in a phone interview. “We think they ought to quit throwing good money after bad.”
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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