business and costs « nuclear-news

Japan might manage without nuclear power – a boon for gas and renewables investors

There are certain predictions that seem fairly safe if Japan succeeds in weaning itself off nuclear power so quickly. The switch away from nuclear power should be a major boon to natural gas producers around the world.

Certainly the abandonment of nuclear power would be crushing to uranium miners like Cameco; there would be demand for uranium to service existing plants, but the growth story would vanish.

Last and not least, abandoning nuclear power should be a major positive for renewable energy companies.

THE END OF NUCLEAR POWER: A BOON FOR INVESTORS? The Bull.com.au By Investopedia.com | 14.05.2012 Investors interested in the electrical utility sector and related industries, like mining and engineering, ought to pay a little extra
attention to Japan over the next few months.

With the last operating nuclear plant in Japan going offline for maintenance, Japan will be
operating a nuclear power-free electricity grid this summer. Whether the country gets through the summer without incident or interruption, it seems safe to bet that advocates on either side of the nuclear power debate will be paying close attention…..

This summer will be the real test, as the warm muggy climate of much of Japan puts a strain on the power grid. Last year, the nation made it through by implementing usage limits and asking businesses to shift activity to off-peak hours (weekends and evenings) to reduce peak demand. If similar measures manage to succeed this summer, and residents are not subjected to blackouts or excessive limitations, it may be hard to muster the support to restart those nuclear plants. Activists in other countries could likely point to Japan as proof that nuclear power is not essential. Japan Today, Europe Next? Continue reading →

May 17, 2012 Posted by Christina Macpherson | 2 WORLD, business and costs | Leave a comment

In Malawi, Namibia, Niger workers making trouble for uranium mining companies

Conflicts with unions and management may have even larger impacts in the future,

Uranium Miners in Africa Facing Labor Disputes, Business Insider, Resource Investing News | May 16, 2012, Uranium mining companies are operating in difficult environments in many jurisdictions, facing challenges ranging from regulatory compliance,
environmental delays, rising costs, and labor relations. Over the last year, the labor challenges seem to have become more accentuated for African uranium mining companies, with several companies having reporting strikes. Continue reading →

May 17, 2012 Posted by Christina Macpherson | business and costs, employment, Malawi, Namibia, Niger, Uranium | Leave a comment

Canada’s unreliable and super-expensive nuclear reactors

Pickering nuclear units among the most expensive, least reliable in the world. The Star.com 15 May 12, The economic performance of Ontario Power Generation’s Pickering nuclear stations is among the worst in the world, says a report prepared for the Ontario Energy Board.

Not only is it the most expensive to operate, it lags at the far end of the pack in terms of reliability, with some units shut down almost 40 per cent of the time….. http://www.thestar.com/business/article/1178431–pickering-nuclear-units-among-the-most-expensive-least-reliable-in-the-world?bn=1

May 17, 2012 Posted by Christina Macpherson | business and costs, Canada | Leave a comment

Renewables on the rise, as King Coal dethroned

King coal dethroned, CLIMATE SPECTATOR, Peter Newman & Ray Wills, 15 May 2012 “King coal still reigns” was the headline emblazoned across a full page article in The Weekend Australian on the 28-29 April 2012, by environment editor Graham Lloyd. The article’s subtitle was, “The world is in the grip of a fossil fuel boom that shows no sign of fading.”

Nothing could be further from the truth. The latest data on global investment in new power production shows the dramatic decline in fossil fuel investment, and an astonishing increase in renewables investment. Continue reading →

May 17, 2012 Posted by Christina Macpherson | business and costs, ENERGY | Leave a comment

Britain’s new nuclear programme in deep trouble

French threat to UK energy: François Hollande could close nuclear plants By Oliver Wright, 16 May 2012 http://www.belfasttelegraph.co.uk/news/world-news/french-threat-to-uk-energy-franois-hollande-could-close-nuclear-plants-16159391.html#ixzz1v5yddT1I
Belfast Telegraph, “……Britain’s nascent new nuclear programme is in trouble, due to a combination of the economic crisis, the disaster in Fukushima and changing political winds.

Yesterday, giving evidence to Parliament, the Energy Minister Charles
Hendry appeared to be unable to guarantee with certainty that any of
the five agreed new nuclear power plants would go ahead…… The
first sign of trouble came in March when the German power companies,
RWE npower and E.ON, announced they were pulling out of their joint
venture to build two of the six planned new nuclear reactors at Wylfa
in North Wales and Oldbury-on-Severn, Gloucestershire. ….
it was not practical to go-ahead with a £15bn investment in the UK.

Now doubt has been cast over the commitment of a joint EDF
Energy/Centrica consortium to fulfil its commitment to build two other
nuclear reactors at Hinkley Point in Somerset and Sizewell in Suffolk.

EDF is state-owned and while President Sarkozy had a warm relationship
with the nuclear sector, his successor, Francois Hollande does not.
During his election campaign, M Hollande pledged to close 24 of
France’s 58 reactors and to reduce reliance on atomic power.

With EDF expected to make a final decision on whether to go ahead with
the UK projects by the end of the year the change of Government could
not have come at a worse time…..
The third nuclear consortium, Nugen, comprises Iberdrola, owner of
Scottish Power, and GDF Suez, the French state-owned gas giant.
Scottish and Southern Energy (SSE) was part of the consortium, but
pulled out in September, citing huge costs. ….
Tim Yeo, Chairman of the House of Commons Energy and Climate Change
Committee puts it: “Nuclear energy is exposed to what happens around
the world.

“The industrial nuclear accident in Japan, a decision taken in
Germany, the change in Government in France – all these three things
have a direct impact on global investment in nuclear in this country.
However good the intention is, we are exposed in a particular way –
unlike with some other energy sources – to what happens in countries
quite a long way away which are outside our control.”

Mr Hendry confirmed yesterday that the British Government has no
objection to allowing the contracts for new nuclear to pass to nuclear
nations such as China, Russia and Japan to keep the programme alive.
He said: “As long as they can satisfy us on the safety and the
security then we are happy to talk to them.”

The handing over of such sensitive technology to China or Russia is
certain to re-ignite concerns.

May 16, 2012 Posted by Christina Macpherson | business and costs, politics, UK | Leave a comment

Hinkley nuclear power plans grind to a halt

Hinkley nuclear power station delay deals blow to government hopes Earthwork preparation of Hinkley site put back as election of Francois Hollande as French president hits confidence Damian Carrington guardian.co.uk, 14 May 2012 Massive earthworks needed to prepare the ground for a new nuclear power station at Hinkley in Somerset have been delayed, dealing a further blow to the government’s energy plans.

Half of the big six energy firms have already abandoned their nuclear plans as too costly, but Hinkley is backed by the most pro-nuclear of them, EDF, which is 83% owned by the French state….. Continue reading →

May 16, 2012 Posted by Christina Macpherson | business and costs, UK | Leave a comment

Vogtle Nuclear Reactor’s cost overrun $2 billion

Rushing nuclear power reactors is not prudent and stockholders and/or the vendors, not ratepayers, should bear the burden of such costs.

Groups: Nearly $1 Billion Vogtle Nuclear Reactor Cost Overrun Echoes Earlier Warning About “Boondoggle” Project By Southern Alliance for Clean Energy The Sacramento Bee, , May. 11, 2012 WASHINGTON, — We Told You So: Major Cost Overruns Latest Sign of Vogtle Woes, Including Construction Errors and Raft of Amendments to Federal License – Even though the Vogtle reactor project got its federal license just three months ago, the controversial nuclear reactors are already in trouble. The latest problem: A cost overrun of nearly $1 billion in 2011 dollars, according to groups that warned in February that the Vogtle expansion effort is a boondoggle that could hurt ratepayers and (depending on the status of a pending Solyndra-style federal loan guarantee) U.S. taxpayers. Continue reading →

May 13, 2012 Posted by Christina Macpherson | business and costs, USA | Leave a comment

Brazil ditches nuclear reactor plans, in favour of renewable energy and gas

Brazil shelves plans to build new nuclear plants Google News 10 May (AFP) BRASILIA — Brazil said Wednesday it has shelved plans to build new nuclear power stations in the coming years in the wake of last year’s Fukushima disaster in Japan.

The previous government led by former president Luiz Inacio Lula da Silva had planned to construct between four and eight new nuclear plants through 2030….. “The last plan, which runs through 2020, does not envisage any (new) nuclear power station because there is no need for it. Demand is met with hydro-electrical power and complementary energy sources such as wind, thermal and natural gas,” Energy ministry’s executive secretary, Marcio Zimmermann said in remarks released by the ministry Wednesday. “The 2021 plan, as far as I know, will not consider nuclear power stations either, ” he added, ….

May 10, 2012 Posted by Christina Macpherson | Brazil, business and costs | 1 Comment

Loss and share price fall for Denison uranium miner

Uranium miner Denison Mines reports US$52-million first-quarter loss
By: The Canadian Press 05/9/2012 TORONTO – Denison Mines Corp. (TSX:DML) reported Wednesday a loss of US$52 million in the first quarter as it took a $44-million writedown on its U.S. assets and operations which it is selling.
The uranium miner, which keeps its books in U.S. dollars, said the loss amounted to 14 cents per share for the quarter ended March 31 compared with a loss of $7.1 million or two cents per share a year ago..

.. Shares in the company, which reported its results after the close of markets, were down four cents at $1.57 on the Toronto Stock Exchange on Wednesday.

May 10, 2012 Posted by Christina Macpherson | business and costs, Uranium | Leave a comment

Middle East joins the throng marketing nuclear reactors to Britain

Wylfa: Chinese, US and Mid East investors ‘may bid for Horizon Nuclear Power’ BBC News North West Wales, 6 May 12 Investors from Chinese, America and Middle East are the latest said to be interested in a bid to build a new nuclear reactor on Anglesey.

Last month Russian state-owned Rosatom was reported to be interested in buying Horizon Nuclear Power to build a replacement for ageing Wylfa reactors.

German owners E.ON and RWE npower have shelved the £8bn plan.

News agency Reuters has quoted industry sources saying the other investors are also interested in Horizon… “There are five groups interested overall,” said the source , who Reuters said had direct knowledge of the deals but who asked not to be identified…. http://www.bbc.co.uk/news/uk-wales-north-west-wales-17977739

May 7, 2012 Posted by Christina Macpherson | marketing, UK | Leave a comment

UK government’s unsustainable push for nuclear power

The eye-watering expense of nuclear power, Guardian UK, by Jonathon Porritt, 4 May 12 The coalition wants us to depend more and more on nuclear power, but quite simply, it is too expensive to be able to deliver “….. It doesn’t really matter what you think: it cannot possibly deliver – primarily for economic reasons.

Nuclear reactors are massively expensive. They take a long time to build. And even when they’re up and running, they’re nothing like as reliable as the industry would have us believe. Continue reading →

May 5, 2012 Posted by Christina Macpherson | business and costs, UK | Leave a comment

South African govt’s aim for nuclear power is looking unconvincing

The government’s pretence that there is a bidding war between nuclear power providers is also unconvincing. Companies from the US, South Korea and Russia have given up and a joint French-Chinese bid is the only game in town.

Nuclear drive more about foreign policy than energy, ANTHONY BUTLER: http://www.businessday.co.za/articles/Content.aspx?id=171008 State’s campaign to win public support for proposed nuclear power programme hampered by logic and chronology 2012/05/04 THE government’s belated campaign to win public support for its proposed nuclear power programme has been hampered by logic and chronology. Continue reading →

May 5, 2012 Posted by Christina Macpherson | business and costs, South Africa | Leave a comment

South Korea’s push to export nuclear technology hampered by corruption scandal

Lee’s nuclear push meets obstacle Korea Times, 4 may 12, By Kang Hyun-kyung President Lee Myung-bak’s drive to win nuclear deals abroad has met an unexpected, formidable challenge from within as a state-run nuclear operator has been embroiled in malfunctions and corruption cases. Continue reading →

May 5, 2012 Posted by Christina Macpherson | business and costs, secrets,lies and civil liberties, South Korea | Leave a comment

$65 for repair to San Onofre nuclear plant

Repair bill for San Onofre nuclear plant could hit $65 million LA Times, May 2, 2012 | Edison International officials estimate that the company’s cost for inspections and repairs at the closed San Onofre nuclear plant will be between $55 million and $65 million, but said that the costs may be recovered under a manufacturer’s warranty. Continue reading →

May 5, 2012 Posted by Christina Macpherson | business and costs, USA | Leave a comment

USA’s consumer trap of paying in advance for nuclear reactors

Progress Energy files for more recovery charges after nuclear project estimate soars and is further delayed http://enformable.com/2012/05/progress-energy-files-for-more-recovery-charges-after-nuclear-project-estimate-soars-and-is-further-delayed/
Progress Energy, the electric utility in Pinellas County and much of North and Central Florida, has filed its nuclear cost recovery charges with the state Public Service Commission to assist in continuing work on nuclear reactors which may never be built, or ever return to
service at the Levy and Crystal River sites….

Progress Energy’s charge if granted in full will have a tremendous impact on residential
homeowners, who would be expected to pay an extra fee of $5.09 on a 1,000-kilowatt-hour residential bill beginning next year, compared to the extra $2.86 in 2012. Continue reading →

May 3, 2012 Posted by Christina Macpherson | business and costs, politics, USA | Leave a comment

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