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Rising financial problems face nuclear industry in UK

Full insurance cover for the consequences of nuclear accidents is generally impossible to obtain because of the potential liabilities. The government said it might be prepared to provide reinsurance under these circumstances.

Nuclear clean-up costs face big rise, FT.com / UK , By David Blair,   January 24 2011 Companies operating nuclear power stations in Britain could be liable for clean-up costs of up to €1.2bn (£1.01bn) in the event of an accident – a seven-fold increase on the present maximum. Continue reading →

January 27, 2011 Posted by | business and costs, UK | Leave a comment

French nuclear company EDF faces risky investment in UK plants

In the UK the coalition wants energy companies to spend some £40bn on constructing nuclear generators at eight sites in England – and to do so without any direct public subsidy. Moreover, no nuclear power plant in Britain has been completed on time and on budget.

(UK) Uncharted waters entice French group, FT.com, By David Blair,   January 26 2011 The coalition must make 2011 the “year of delivery” for its electricity market reforms if new nuclear power stations are to go ahead, according to the leader of a joint venture aiming to complete the first reactor. Continue reading →

January 27, 2011 Posted by | business and costs, UK | 1 Comment

Drop in income for nuclear company Exelon

Exelon 4Q net income falls on charges, Bloomberg,  Jan 27, 2011   By The Associated Press CHICAGO (AP) — Nuclear power plant operator Exelon Corp. reported lower fourth-quarter earnings Wednesday on losses due to hedging transactions and costs of planning to retire some plants.The company said net income fell to $524 million, or 79 cents per share, from $581 million, or 88 cents per share, a year earlier…

January 27, 2011 Posted by | business and costs, USA | Leave a comment

Unpopular in South Carolina: fee increases for regulating “low level” radioactive waste

SC legislators balk at low-level nuclear material fee increase tied to tougher fed security,  latimes.com,  JIM DAVENPORT Associated Press January 25, 2011, COLUMBIA, S.C. (AP) — Some South Carolina lawmakers don’t like proposed fee increases for regulating low-level nuclear material tied to tougher federal security requirements. Continue reading →

January 26, 2011 Posted by | business and costs, USA | Leave a comment

Renewable energy jobs increasing in California

The “Many Shades Of Green” report from Next 10 shows the “Core Green Economy” now accounts for 174,000 jobs in California

Green Job Creation Sets A Cracking Pace In California, Renewable Energy News : by Energy Matters, 24 Jan 2011, Green jobs in CaliforniaJobs in California’s green sector grew more than three times faster than total employment in the state for the period January 2008 – 2009; and many were related to renewable energy. Continue reading →

January 23, 2011 Posted by | employment, renewable, USA | 1 Comment

UK wanting to increase nuclear operators’ liability for accidents

no company can obtain insurance against a nuclear accident – or would want to shoulder the risk themselves – because the costs could potentially be limitless.

Nuclear power generators will face £1bn in clean-up costs after an accident At present any operator of a nuclear site only has to pay the first £140m towards clean-up costs with the taxpayer contributing the  Guardian UK, Tim Webb ,  23 January 2011 Continue reading →

January 23, 2011 Posted by | business and costs, UK | Leave a comment

More jobs in wind power for UK

Britain had moved to the world’s leading position in installed offshore wind capacity at 1,341 megawatts (MW), followed by Denmark and the Netherlands…

Wind power firms plan UK sites, to create jobs | Reuters, By Karolin Schaps LONDON Jan 20, 2011 – Three global wind farm companies stepped up their commitment to Britain’s growing renewable energy industry on Thursday by announcing plans to build factories and research centers, creating up to 1,400 jobs. Continue reading →

January 22, 2011 Posted by | employment, renewable, UK | Leave a comment

Paladin uranium company troubled by disruptions in Malawi

Paladin cuts uranium production forecast at Kayelekera The Australian, Ross Kelly  Dow Jones Newswires * January 21, 2011 URANIUM miner Paladin Energy today downgraded its annual production guidance after disruptions at its Kayelekera mine in Malawi……Paladin cuts uranium production forecast at Kayelekera | The Australian

January 22, 2011 Posted by | business and costs, Malawi, Uranium | Leave a comment

Investment bankers predict rise in renewable energy

Clean Energy Acquisitions May Come From Strategic Backers, Bankers Say,  Bloomberg, By Andrew Herndon – Jan 22, 2011 Large companies that have already made small, strategic investments in renewable energy startups may soon start buying them outright, according to investment bankers. Continue reading →

January 22, 2011 Posted by | 2 WORLD, business and costs | Leave a comment

Canada’s taxpayers will cop the grand money loser of nuclear reactor

As with most of what happens in the nuclear power industry, the facts will likely never be known. One certainty, however, is that this is another battle over which level of government will assume most of the risk in building and refurbishing nuclear power plants.

The nuclear blowout over AECL  Financial Post, Terence Corcoran:, 19 Jan 2011, “…………A money loser on a grand scale, AECL was put up for sale by Ottawa almost two years ago. Few buyers emerged. Continue reading →

January 21, 2011 Posted by | business and costs, Canada | Leave a comment

Nuclear fuel reprocessing will leave tax-payer to pay $trillions for waste disposal

President Carter’s Executive Order banned nuclear fuel reprocessing in the 1970’s. Congress recently – and quietly – passed legislation at the behest of the nuclear industry and utilities that appears to circumvent that decision……Interestingly, by U.S. law, once nuclear waste is removed from the property of the utilities, it then becomes the problem of the federal government and tax payers, and no longer a liability for utilities and corporate shareholders…..Somewhere between two to four trillion in U.S. tax dollars has gone to the nuclear experiment, in all its forms over the decades, but now we face very real fiscal constraints.

A blue-ribbon, “nuclear” bus ride  Mountain Xpress, Ned Ryan Doyle, 21 Jan 2011 “.………It’s no secret that temporary storage facilities for high level nuclear waste at our nation’s nuclear plants are at, or beyond, design capacity. Continue reading →

January 21, 2011 Posted by | business and costs, reprocessing, USA | Leave a comment

Ballooning $billions cost of Uranium Processing Facility

Uranium facility’s cost leaps: Y-12 officials ‘taken aback’ but defend design increases Knoxville News Sentinel, Frank Munger, 20 Jan 2011, OAK RIDGE —A lot of folks were shocked last November when the projected cost of the Uranium Processing Facility jumped from $1.4-$3.5 billion to the current cost range of $4.2 billion to $6.5 billion. Continue reading →

January 21, 2011 Posted by | business and costs, Uranium, USA | Leave a comment

Renewable energy jobs refuelling the global economic recovery

Globally, research from the United Nations Environmental Programme (UNEP) has shown that a shift to a a low-carbon and sustainable economy can create millions of green jobs across many sectors of the economy.

How Green Jobs Are Fueling The Recovery Responsible Careers, just means, 16 Jan 2011, “……………..The good news for responsible professionals and socio-eco innovators is that green jobs are likely to fuel the recovery both globally and in the US. Continue reading →

January 18, 2011 Posted by | 2 WORLD, employment | Leave a comment

Florida electricity customers pay up in advance for building nuclear reactors

in most states, North Carolina included, utilities can’t make customers pay preconstruction costs for proposed nuclear plants. In Florida, they can….they pay in advance for a nuclear plant Progress wants to build in Levy County. …

Electricity Costs Customers More in Florida , Sunshine State News

Nancy Smith’s blog January 17, Cutomers of Progress Energy Florida pay more than the customers of its new parent company, North Carolina-based Duke Energy — and the diference is sizable. Continue reading →

January 18, 2011 Posted by | business and costs, USA | Leave a comment

Only taxpayer money can save Atomic Energy of Canada’s Candu nuclear reactor business

Bruce Power Pulls out of Bidding for Atomic Energy of Canada  Nuclear Street , Jan 17 2011 Edited By Tom Lamar -According to news reports, plans to sell Atomic Energy of Canada Ltd. (ACEL) have hit a snag. Bruce Power has pulled out of talks to buy AECL’s troubled Candu reactor business. The reports stated that Bruce Power’s CEO told staff Friday that the company has dropped out of the bidding process.Bruce has informed Ottawa it will not pursue its bid for the country’s flagship nuclear company, more than a year after the official bidding kicked off.None of the larger reactor design companies have submitted a bid to purchase ACEL.AECL has yet to complete the design and nuclear safety certification of their Advanced Candu Reactor (ACR) 1000, and sources say SNC has made it clear it will only go forward with the project with government backing…… Bruce Power Pulls out of Bidding for Atomic Energy of Canada Ltd – Nuclear Power Industry News – Nuclear Power Industry News – Nuclear Street – Nuclear Power Portal

January 18, 2011 Posted by | business and costs, Canada | Leave a comment

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