business and costs « nuclear-news

Renewable Energy – a job provider for millions of Indians

Indian Renewable Energy Sector to Create 2.4 Million Jobs by 2020 http://theenergycollective.com/energyjobline/147291/indian-renewable-energy-sector-create-24-million-jobs-2020 by C. Dominguez November 24, 2012 India’s renewable energy sector is to create up to 2.4 million jobs by 2020, according to a report jointly commissioned by environmental group Greenpeace, the Global Wind Energy Council and the European Renewable Energy Council.
To date, the sector employs 200,000 people, but this could jump 14 times by 2030 with the right policies and investments in place, stated India Energy [R]evolution report.
By 2050, about 92 percent of India’s energy infrastructure will be based on renewable energy sources. Renewables such as wind, solar thermal energy and photovoltaic, will comprise 74 percent of electricity generation. Continue reading →

November 27, 2012 Posted by Christina Macpherson | employment, India, renewable | Leave a comment

Sellafield – a financial as well as environmental disaster

Sellafield inspection after ‘intolerable risk’ report, BBC News 26 Nov 12 Sellafield is the UK’s largest and most hazardous nuclear site Sellafield nuclear plant is to undergo a value-for-money inspection after a report found it posed a “risk”.

Earlier this month the National Audit Office (NAO) found decommissioning projects were over budget and that storage buildings were “run-down”.

Now members of the Public Accounts Committee will visit the site to ask “tough questions” on how taxpayers’ money is being spent….. http://www.bbc.co.uk/news/uk-england-cumbria-20495334

November 27, 2012 Posted by Christina Macpherson | business and costs, UK | Leave a comment

South Korea’s ambitions for a nuclear reactor export industry

Lee: Nuclear power plants ‘core staple’ for S. Korea SEOUL, Nov. 26 (Yonhap) — President Lee Myung-bak said Monday atomic power plants are a key export industry that will help lift South Korea’s growth in the years to come, just as auto, shipbuilding and
electronics industries have powered the country’s economy so far.

Lee also said his latest trip to the United Arab Emirates was aimed at laying the groundwork for South Korea to win another massive nuclear power plant construction order from the oil-rich MiddleEastern nation after the first deal in 2009 to build and operate four reactors……

November 26, 2012 Posted by Christina Macpherson | business and costs, South Korea | Leave a comment

Desperate uranium mining companies squabble as price falls

Did rivals try to scupper BHP’s uranium sale to Cameco?Mining.com, Frik Els | November 23, 2012 The West Australian reports rumours have been circulating in the state’s mining community that Rio Tinto (NYSE:RIO) and Paladin Energy
(TSX:PDN) attempted to sabotage BHP Billiton’s (LON:BHP) $448 million sale of uranium property Yeelirrie to Canada’s Cameco (TSX:CCO)….. The paper said Rio denied the rumours while none of the other parties commented, and that the deal is likely to be OK’d in any event.

Spot uranium prices have been drifting towards the $40 per pound level this year – well below the $66.50 prior to Fukushima disaster in Japan and down from historic high levels above $130 in 2007.

Last year nuclear power consumption declined 4.3%, the largest drop-off on record, said BP in its annual study of global energy use. Japan cut back nuclear power by 44.3%, and Germany reduced nuclear consumption by 23.2%.
http://www.mining.com/did-rivals-try-to-scupper-bhps-uranium-sale-to-cameco-87504/

November 25, 2012 Posted by Christina Macpherson | AUSTRALIA, business and costs | Leave a comment

Gloomy times: Australia’s uranium companies, like Paladin

Given a downturn in nuclear reactors globally, the oversupply and stockpiling of uranium in Japan and the launch of new uranium mining projects in Canada, there is little evidence to indicate any meaningful revival in the uranium price.

Paladin’s continuing failings a warning for small uranium miners http://ccwa.org.au/blogs/paladin%E2%80%99s-continuing-failings-warning-small-uranium-miners#.UK-2DuR9JLt November 22nd 2012 by Mia.Pepper The Conservation Council of WA has been following the activities of Perth based uranium miner Paladin in collaboration with a number of other environmental NGO’s and social justice groups globally. In consultation with local groups in Malawi and Namibia, where Paladin have operating mines, we have prepared a number of questions that we will be asking at their Annual General Meeting on the 22nd November 2012.

CCWA are concerned that Paladin’s proposed cost cuts will exacerbate existing problems at the company’s mines in Africa. Given the poor economic climate for uranium mining and with some indication from the board that the company is in trouble – we are concerned that the company may abandon projects in the future with no compensation or effective clean up of their existing mine sites.

Background information on Paladin’s operations: Continue reading →

November 23, 2012 Posted by Christina Macpherson | AUSTRALIA, business and costs | Leave a comment

US Dept of Energy losing enthusiasm for Small Modular Nuclear reactors (SMRs)

ultimately, the decision may have come down to the commercial prospects for the technologies. The fact remains that the economics of all of these designs remains murky.

Based on economies of scale, small reactors will produce more expensive electricity than large reactors, all other factors being equal.

Does DOE’s Funding Announcement Mark the End of its Irrational Exuberance for SMRs? http://allthingsnuclear.org/does-does-funding-announcement-mark-the-end-of-its-irrational-exuberance-for-smrs/?utm_source=twitterfeed&utm_medium=twitter&utm_campaign=Feed%3A+AllThingsNuclear+%28All+Things+Nuclear%29 Ed Lyman, senior scientist
November 21, 2012
On November 20 DOE finally announced that the Babcock and Wilcox Company (B&W) and its “mPower” reactor were the lucky winners of its Funding Opportunity Announcement (FOA) for a cost-sharing program with industry for the design and licensing of “small modular reactors,” or SMRs. Although DOE had originally said the announcement would come in July or August, it decided instead to bury it on Thanksgiving week – not usually a time the agency releases news of which it is particularly proud.

And in fact, the real news is not that a grant was awarded to B&W – this was a near-certainty – but that there was only one winner instead of two. Continue reading →

November 22, 2012 Posted by Christina Macpherson | business and costs, Reference, technology, USA | Leave a comment

Corporate investors asking hard questions about economics of nuclear power

hard questions have to be put about new nuclear units.

Challenging Ontario’s new nuclear plants By Staff Torstar News Service, 20 Nov 12, A new nuclear debate is starting to percolate in Ontario. At industry conferences and in the corridors of Queen’s Park, energy activists are questioning whether Ontario should invest billions in new nuclear energy units.

But these activists aren’t the long-time foes of the nuclear industry, who based their arguments on moral and environmental grounds.

They’re working for corporate clients, and asking hard questions about the economics of nuclear power, given the alternatives like plentiful natural gas. Continue reading →

November 22, 2012 Posted by Christina Macpherson | business and costs, Canada | Leave a comment

United Arab Emirates raising loans for $30 billion nuclear power plant program

UAE Nuclear Power Corp. to raise $2 bln in loans http://www.dailystar.com.lb/Business/Middle-East/2012/Nov-20/195569-uae-nuclear-power-corp-to-raise-$2-bln-in-loans.ashx#axzz2CsdUajHi November 20, 2012 Emirates Nuclear Energy Corp., which is building the Gulf Arab region’s first nuclear power plant in Abu Dhabi, is raising $2 billion from bank loans to finance construction, according to two bankers familiar with the plan.

The 20-year facility being raised by the government-owned company pays interest of 175 basis points, or 1.75 percentage points, above the London interbank offered rate, according to the bankers, who asked not to be identified because the information is private. The interest rate will rise over the loan’s life to 260 basis points above the benchmark, the bankers said. Continue reading →

November 21, 2012 Posted by Christina Macpherson | business and costs, United Arab Emirates | Leave a comment

Safety risks – early shutdown for Oyster Creek nuclear reactor?

Newspaper: “Disturbing risks” have emerged at NJ’s Oyster Creek nuke plant after Sandy — Reactor may be decommissioned early November 16th, 2012 By ENENews
Title: Reactor requires objective review
Source: The Asbury Park Press
Date: Nov 15, 2012
Largely lost amid people’s concerns about the loss of electrical power, flooding and worse during and after superstorm Sandy was the potential for another even worse disaster at the Oyster Creek nuclear reactor in Lacey.

[…] Now, two new disturbing risks have surfaced in recent days: the plant’s vulnerability to a possible Fukushima-like meltdown and fatigue cracks that have been detected in the reactor vessel.

[…] the state should conduct its own independent analysis of the response and the newly discovered cracks in the reactor […]

[…] The chairman of Exelon told Bloomberg News Wednesday that the company may speed the timetable for shutting down the plant if it faces unexpected new capital costs. Then so be it. […]… http://enenews.com/newspaper-disturbing-risks-have-emerged-at-njs-oyster-creek-nuke-plant-after-sandy-reactor-may-be-decommissioned-early

November 17, 2012 Posted by Christina Macpherson | business and costs, safety, USA | Leave a comment

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 →

November 16, 2012 Posted by Christina Macpherson | business and costs, USA | Leave a comment

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 →

November 16, 2012 Posted by Christina Macpherson | employment, health, Japan, Ukraine | Leave a comment

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 →

November 15, 2012 Posted by Christina Macpherson | business and costs, UK | Leave a comment

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.

November 15, 2012 Posted by Christina Macpherson | employment, Fukushima 2012, Resources -audiovicual | Leave a comment

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 →

November 15, 2012 Posted by Christina Macpherson | business and costs, Japan, politics | Leave a comment

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. …

November 15, 2012 Posted by Christina Macpherson | business and costs, South Korea | Leave a comment

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