business and costs « nuclear-news

Shaky financial outlook for new loan-backed nuclear plants

The loan guarantee is conditional upon NRC approval. But if the project ever gets off the ground, there are plenty of red flags signaling that it’s a very bad investment for taxpayers.

Obama’s Nuclear Boondoggle | Mother Jones By Kate Sheppard| Wed Feb. 17, 2010 In its eagerness to woo Republicans with nuclear-friendly policies, the Obama administration plans to hand out $54.5 billion in government-backed loans to kick-start a nuclear renaissance. On Tuesday, it announced the first beneficiary of this largesse—and apparently the best candidate it could find was a proposed plant that’s been put on hold by federal regulators due to serious safety concerns. Continue reading →

February 18, 2010 Posted by Christina Macpherson | business and costs, USA | antinuclear, nuclear costs | Leave a comment

Uranium company made losses

First Uranium posts Q3 loss on higher costs, forex loss Feb 16 (Reuters) – First Uranium Corp (FIU.TO) posted a quarterly loss, hurt by higher corporate expenses and a $7.4 million foreign currency loss.

For the third quarter ended Dec. 31, the company reported loss of $14.4 million, or 9 cents a share, compared with a profit of $1.3 million, or 1 cent a share, a year ago……… In January, South African authorities withdrew environmental authorization for a new tailings storage facility at First Uranium’s key Mine Waste Solutions tailings recovery project.

UPDATE 1-First Uranium posts Q3 loss on higher costs, forex loss | Reuters

February 17, 2010 Posted by Christina Macpherson | business and costs, South Africa | nuclear costs, uranium | Leave a comment

Toxic financial loans to nuclear industry

Nuclear power, strike 2 MNN – Mother Nature Network Karl Burkart 15 Feb 2010 Even Wall Street won’t touch nuclear because it is too financially risky. At least 1 out of 2 nuclear plants will fail, leaving taxpayers with the burden of debt.Sun, Feb 14 2010 Continue reading →

February 16, 2010 Posted by Christina Macpherson | business and costs, USA | antinuclear, nuclear costs, nuclear secrecy, nuclear spin | Leave a comment

Nuclear energy – financially, it’s a corporate killer

”the risks faced by developers à are so large and variable that individually they could each bring even the largest utility company to its knees financially.”

ENERGY: Nuclear Does Not Make Economic Sense Say Studies Australia.to 14 February 2010 by Julio Godoy

BERLIN, (IPS) – The enormous technical and financial risks involved in the construction and operation of new nuclear power plants make them prohibitive for private investors, rebutting the thesis of a renaissance in nuclear energy, say several independent European studies. Continue reading →

February 15, 2010 Posted by Christina Macpherson | 2 WORLD, business and costs | antinuclear, AREVA, nuclear costs, nuclear secrecy, nuclear spin | Leave a comment

Olkiluoto nuclear plant – a shining example of folly of nuclear costs

ENERGY: Nuclear Does Not Make Economic Sense Say Studies Australia.to 14 February 2010 by Julio Godoy
“…….Actually, there is a new nuclear power plant that serves as a warning example of the risks involved in such a project: the nuclear power plant of Olkiluoto 3 in Finland, under construction since 2004.

Although the plant was supposed to have started delivering electricity in May 2009, its completion was postponed several times in the past two years. Continue reading →

February 15, 2010 Posted by Christina Macpherson | business and costs, Finland | antinuclear, AREVA, nuclear, nuclear costs, nuclear spin | 1 Comment

Big Powers to get big nuclear sales to India

Doors Wide Open For Nuclear Technology Exports to India By Prakash Joshi IDN-InDepth News 15 Feb 2010

NEW DELHI (IDN) – The door has finally been thrown open for a free flow of nuclear exports to India. The four nuclear weapons states — USA, Russia, France and Britain — Continue reading →

February 15, 2010 Posted by Christina Macpherson | business and costs, India | antinuclear, nuclear, nuclear costs, nuclear spin | Leave a comment

Is AREVA losing faith in the ‘nuclear renaissance’ ?

Areva Switching From Nuclear Power To Solar ? The Oil Drum by Big Gav February 14, 2010

French energy company Areva (best known for its nuclear power business) has purchased solar thermal power company Ausra – yet another example of a promising Australian technology company ending up with foreign ownership.

One possible positive interpretation of the news is that Areva are losing faith in the oft-predicted but unrealised “nuclear renaissance” and now see the real future growth opportunities in large scale solar power, with nuclear power (at best) a legacy business……………. Continue reading →

February 15, 2010 Posted by Christina Macpherson | business and costs, climate change, France | antinuclear, AREVA, nuclear, nuclear costs, nuclear secrecy, nuclear spin, renewable energy, renewables, solar | Leave a comment

Future of Florida’s nuclear power plants looking doubtful

Progress Energy slowly raising more doubts about future of Levy County nuclear plant tampabay.com Robert Trigaux, Times Business Columnist February 12, 2010 Progress Energy slowly raising more doubts about future of Levy County nuclear plant “…..Maybe it’s not such a good time to build a nuke plant in Florida after all.That’s may take, at least, after listening to Progress Energy CEO Bill Johnson’s remarks to analysts Thursday in discussing fourth quarter earnings (up 53 percent over 2008!) and emphasizing his second thoughts about a Levy nuclear site. Continue reading →

February 15, 2010 Posted by Christina Macpherson | business and costs, USA | antinuclear, nuclear, nuclear costs, nuclear spin | Leave a comment

AREVA’s nuclear reactor safety features now too costly to compete with Korea’s nukes

It was speculated that those expensive features may have cost the company the UAE contract, and Areva has considered scaling back some of those additions for future designs.

Where Is Nuclear Power Really Heading?A Look at Obama’s Call for New Nuclear and the Reactors that Might Be Built by solveclimate Dave Levitan – Feb 5th, 2010

“…….The cost issues surrounding safety have already come up internationally. The United Arab Emirates awarded a high-profile contract for a new plant to a South Korean company late in 2009, after the French company Areva had been positioned as the front-runner.

The Areva EPR reactor has some advanced safety features including a “core catcher” room that could help prevent compromised nuclear fuel from escaping the reactor, as well as an enforced shell that could theoretically withstand an airplane impact. Continue reading →

February 6, 2010 Posted by Christina Macpherson | business and costs, France | antinuclear, AREVA, nuclear, nuclear costs, nuclear secrecy, nuclear spin, reactor, reactors | Leave a comment

“Nuclear Renaissance” just not happening

there have actually been very few new reactors started in recent years, and that nuclear energy as a percentage of global energy production has actually retreated since 2001.

NUCLEAR RENAISSANCE? Nuclear second coming could run out of steam – A Canadian think tank has challenged the idea that a nuclear renaissance is in full swing stating that new reactor construction is likely to be held back by a variety of issues : MineWeb Cameron French (Reuters) 05 Feb 2010TORONTO (Reuters) – Expectations of a sharp rise in nuclear generating capacity over the next two decades are likely overblown, a Canadian think tank said on Thursday, disputing conventional wisdom that a nuclear renaissance is in full swing. Continue reading →

February 6, 2010 Posted by Christina Macpherson | business and costs, Canada | antinuclear, nuclear, nuclear renaissance | Leave a comment

Future for U.S. Nuclear power industry really is doubtful

Problematically, the Nuclear Regulatory Commission has a policy that does not require newer designs to be substantially safer than old designs,

Where Is Nuclear Power Really Heading?A Look at Obama’s Call for New Nuclear and the Reactors that Might Be Built by solveclimate Dave Levitan – Feb 5th, 2010 “…..Energy Secretary Steven Chu and the president are making it clear that they intend to move forward. Thus, the question arises: After more than a decade without any new nuclear plants being built in the U.S., what exactly would new nuclear power look like?

Slowed Momentum, Escalating Costs…. Continue reading →

February 6, 2010 Posted by Christina Macpherson | business and costs, USA | antinuclear, nuclear, nuclear costs, nuclear spin, reactor, reactors | Leave a comment

Cameco, Exelon, USEC, – Nuclear and Uranium Stocks are Losers

Top Nuclear Stocks Losers (NYSE: CCJ,EXC,USU) Trak In, Business and Finance News by EIN, 2010/02/05 Dallas, Tx – Cameco Corporation (USA) (NYSE:CCJ) went down 2.94% to $27.37 on 2.29 million shares. The stock hit an intraday high and an intraday low of $28.30 and $27.34 respectively. In the last six months the stock went down over 6%. Cameco Corporation is a Canada-based company. The Company, along with its subsidiaries, is engaged in the exploration, development, mining, refining, conversion and fabrication of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries. Continue reading →

February 5, 2010 Posted by Christina Macpherson | 2 WORLD, business and costs | antinuclear, nuclear, nuclear costs, nuclear secrecy, nuclear spin, reactor, reactors, uranium | Leave a comment

Bleak prospects for uranium price

An Un-Happy New Year For Uranium2/02/2010 Nine MSN By Andrew Nelson January was tough on uranium, with U3O8 prices dropping more than 5%, or US$2.25/lb to $42.25/lb from the prior month. The price is now at its lowest level since March 2009.The fairly steady decline that has been seen over the past few months is primarily the function of supply and demand fundamentals, with a high availability of stock not being helped by increasingly low-priced supply and light, mostly discretionary demand………….with demand remaining discretionary in nature, buyers are only really moving to lock in lower prices. Unfortunately, this demand is being met by an ever increasing willingness on the part of some sellers to lower prices further in order to close sales.

An Un-Happy New Year For Uranium

February 4, 2010 Posted by Christina Macpherson | 2 WORLD, business and costs | antinuclear, nuclear, nuclear secrecy, uranium | Leave a comment

Westinghouse nuclear plans delayed in Florida and in India

Westinghouse says Florida nuclear units to be delayed US nuclear regulator action delays Florida units By C.J. Kuncheria, NEW DELHI, Feb 3 (Reuters) – Nuclear energy firm Westinghouse Electric, owned by Japan’s Toshiba Corp (6502.T), said regulatory issues would delay the starting of two reactors it is building in Florida by 1-½ to 3 years. Continue reading →

February 4, 2010 Posted by Christina Macpherson | 2 WORLD, business and costs | antinuclear, nuclear, nuclear costs, nuclear wastes, reactor, reactors, reprocessing, Westinghouse | Leave a comment

French bank pulls out of Bulgaria’s nuclear power plant

France’s BNP Paribas Quits Bulgaria Belene N-Plant Nuclear Reaction 4 Feb 2010 BNP Paribas SA, France’s largest bank by market value, who was hired by the previous Socialist government to help fund the construction of Belene nuclear power plant at the Danube river town, has ditched the project…. Continue reading →