UK’s first small nuclear reactor deal ‘poised’ for signing but not with Rolls-Royce
Proactive Investors, 01 Dec 2023 Oliver Haill
Small modular nuclear reactors (SMRs) could be built in the north-east of England but not by Rolls-Royce Holdings PLC (LSE:RR.), Britain’s leading candidate to develop the technology.
In the same week that shockwaves were felt around the industry as an expected first SMR project in the US was cancelled due to a lack of interest from local utilities, US-based Westinghouse Electric was today reported to be close to agreeing a deal to build four SMRs near Hartlepool……………………………….
Rolls-Royce is seen as one of the frontrunners to develop the first UK SMR projects, with its £1.8 billion-per-site design using tech similar to that in nuclear submarines to power up to a million homes.
It was shortlisted in the government-run SMR competition in October, along with Westinghouse’s UK arm, EDF, GE-Hitachi, Holtec Britain, and NuScale Power, the operator with the cancelled US project earlier this week.
But of those names, only Rolls was thought to be currently undergoing assessment from the Office for Nuclear Regulation (ONR) and Environment Agency for the first order, which it insisted put it almost two years ahead of its competitors in bringing an SMR on-stream and receiving funding from the UK government to build the reactors, though others have also applied for regulatory approval.
Rolls chief executive Tufan Erginbilgic has previously said the winner of the UK’s ongoing government-run SMR competition will need “tangible commitments in terms of projects – multiple projects”.
Earlier this week at its much-trumpeted investor event, Rolls said is planning to work with a “broad set of partners” to develop SMRs.
The government is close to publishing its long-awaited nuclear roadmap, which will set out plans to build a new generation of small and large nuclear reactors around Britain.
Westinghouse was bought last year by secretive Canadian infrastructure investor Brookfield. https://www.proactiveinvestors.co.uk/companies/news/1034906/uk-s-first-small-nuclear-reactor-deal-poised-for-signing-but-not-with-rolls-royce-1034906.html
EDF to “build 1 reactor a year in 2030s” – CEO
EDF to “build 1 reactor a year in 2030s” – CEO. French utility EDF
plans to build at least one nuclear reactor per year in the next decade in
Europe, its CEO told the World Nuclear Exhibition in Paris late on Tuesday.
“We’re counting on an accelerated rate of construction capacity for large
reactors, from what we have today, which is one or two per decade… and
gradually moving up to one or even 1.5 per year” for the next decade, Luc
Remont said on the sidelines of the conference. “We have already built
four reactors per year” in the 1970s-80s.
Montel 29th Nov 2023
https://www.montelnews.com/news/1532125/edf-to-build-1-reactor-a-year-in-2030s–ceo
UK government hopes that United Arab Emirates will invest in Sizewell C nuclear power plan.
UAE approached to invest in Sizewell C nuclear power plan
UK lines up Middle East investor for stake in £20bn-£44bn project despite growing row over other Emirati investment plans.
Alex Lawson, https://www.theguardian.com/business/2023/nov/27/uae-approached-to-invest-sizewell-c-nuclear-power-plant
A United Arab Emirates investor has been approached to take a stake in the Sizewell C nuclear power plant project in Suffolk, it has emerged.
Ministers are searching for new investors in the project, which could cost between £20bn and £44bn, after removing the Chinese state-owned CGN last year due to security concerns over UK infrastructure amid poor Anglo-Sino relations.
The Times reported on Monday that the UK government had lined up Mubadala, the Abu Dhabi fund run by Sheikh Mansour bin Zayed Al Nahyan, the owner of Manchester City football club, to back the energy project, with a decision due early next year.
However, a source close to Mubadala denied the fund was interested in Sizewell but said other UAE entities were interested. A separate source said that Emirates Nuclear Energy Corporation, which is owned by Abu Dhabi sovereign wealth fund ADQ, could be a good fit for the project.
The UAE interest comes against the backdrop of Westminster tensions over a separate Emirati deal. Last week, RedBird IMI – a joint-venture between America’s Redbird Capital and International Media Investments, an Abu Dhabi investor also backed by Mansour – announced a deal to take control of the Telegraph group. The government has indicated it will launch a public interest investigation into the newspaper deal.
The Sizewell C plant aims to generate enough energy to power 6m homes. It is backed by France’s EDF and the UK government, which has spent nearly £100m buying CGN out of the project. CGN had held a 20% stake.
Rishi Sunak hosted Mubadala’s Khaldoon Al Mubarak at a meeting of global business leaders at Hampton Court, south-west London, on Monday as he attempts to attract foreign investment to the UK.
Although a formal search for outside investment launched in September, Sizewell C has been touted to potential investors – including sovereign wealth funds, infrastructure and pension funds – for years. The government earmarked a further £341m to develop the project in August.
Bankers at Barclays have been tasked with procuring investment for the project, which has faced significant opposition in Suffolk.
The interest from the UAE – host of Cop28, which begins this week – in Sizewell C has been mooted for more than a year. Last week, campaigners parked a sign reading “Sizewell C is a toxic investment” outside the UAE embassy in London.
Alison Downes, of the Stop Sizewell C campaign, said: “There may be a dearth of UK interest in Sizewell C, but there is no energy security in handing chunks of the UK’s critical national assets to countries that don’t share our values. If the UAE is not good enough for the Telegraph, it’s definitely not good enough for Sizewell C.”
Investors in Saudi Arabia and Australia have also previously reportedly been approached to back Sizewell C. However, a source close to the project denied there was active interest from Saudi investors.
The project is set up as a 50-50 joint-venture between the government and EDF, which is behind the sister Hinkley Point C development in Somerset. That project is significantly over budget and years late.
Ministers overruled the independent Planning Inspectorate to grant Sizewell C planning consent. Backers are seeking a development consent order that will precede a final investment decision by its backers.
The plant is not expected to generate power until at least the mid-2030s, after most of Britain’s nuclear power stations have been retired.
Sunak’s government hopes to kickstart a renaissance in the nuclear power industry, and launched a new delivery body, Great British Energy, in the summer.
Separately, the boss of Rolls-Royce, Tufan Erginbilgic, is expected to urge the government to back its plans to build small nuclear power plants at an investor day on Tuesday.
Sizewell C and Mubadala have been approached for comment.
French nuclear tax is leap into the dark – analysts
SOPHIE TETREL, Paris, MURIEL BOSELLI, Paris, France, 28 Nov 2023
(Montel) France’s plan to replace the Arenh regulation with a nuclear tax is a “leap into the unknown” and does not guarantee that EDF will sell atomic output at EUR 70/MWh, analysts told Montel.
“We are switching to a full market system. It is a bit of a leap into the unknown and no longer a regulated system in which you know beforehand how much you are paying,” said Nicolas Goldberg, energy consultant at Colombus.
EDF and the government reached an agreement a fortnight ago that they would allow EDF to sell its atomic power at an average of EUR………………..…(subscribers only) more https://www.montelnews.com/news/1531984/french-nuclear-tax-is-leap-into-the-dark–analysts
The President of the Canadian Nuclear Safety Commission spent $288,000 on travel in 19 months
Luxury hotel, $12,000 plane tickets:
a senior public servant even had her luggage carrier reimbursed
PASCAL DUGAS BOURDON and CHARLES MATHIEU , Journal de Montréal, Monday, November 27, 2023 https://tinyurl.com/ydmpyaa3
$1,000 per night accommodation in a luxury hotel with luggage porter, business-class airfare
to Tokyo, Dubai and Vienna: the outgoing President of the Canadian Canadian Nuclear Safety Commission has multiplied her expensive trips at taxpayers’ expense. According to a compilation by our Bureau of Investigation, Rumina Velshi was reimbursed $288,000 in business travel in 19 months between January 2022 and July 2023.
She is by far the biggest spender in the senior federal civil service, spending $100,000 more than any other publicly employed executive… (more)
NuScale cancels first planned SMR nuclear project due to lack of interest
The Chemical Engineer, by Adam Duckett, 27 Nov 23
NUSCALE has cancelled the first project for its pioneering small modular nuclear reactor (SMR) technology because too few customers signed up to receive its power amid rising costs.
NuScale is the only company to have received design approval from US regulators for an SMR, a smaller form of reactor that can be fully fabricated in a factory to reduce the costly overruns that occur with larger conventional nuclear plants.
The first plant, known as the Carbon Free Power Project (CFPP), was set for construction at the US Department of Energy’s Idaho National Laboratory. It would have included six reactor modules generating a combined 462 MW of low carbon energy and had planned to begin operations in 2030. However, the company says there has not been enough interest from utilities across western states to continue the project.
The DoE has provided more than US$600m in funding since 2014 for NuScale and others to develop SMR technology. A spokesperson said: “We believe the work accomplished to date on CFPP will be valuable for future nuclear energy projects,” Reuters reports……………………
Critics argue that the technology is unproved, produces radioactive waste, and will be too slow and costly compared to renewable options which are available to deploy now. NuScale announced at the start of the year that the target cost of power from CFPP had climbed 53% since 2021 to US$89/ MWh.
The Institute for Energy Economics and Financial Analysis warned that “no one should fool themselves into believing this will be the last cost increase” given the additional design, licensing and testing needed, on top of inflation. https://www.thechemicalengineer.com/news/nuscale-cancels-first-planned-smr-nuclear-project-due-to-lack-of-interest/
Poor nuclear prospects in UK
The Global Warming Policy Foundation, no stranger to controversy, has published a report on nuclear prospects, which is quite damning, with the GWPF claiming that it shows that the nuclear industry is now so dysfunctional it may have no future in the UK without a concerted policy and regulatory effort. The report’s author, energy consultant and Daily Telegraph columnist Kathryn Porter, says ‘most of our existing nuclear fleet will close in the next few years, with almost nothing to replace it, and I see little cause for optimism that the economic or regulatory environment will produce significant new capacity any time soon.’………………
In the report, Porter goes through the technical options in a quite neutral way, but warns that, at present, ‘the economic opportunities for nuclear power in Great Britain are mixed. The Government hopes that the new Regulated Asset Base model will attract investor interest by increasing income certainty and transferring some risks to consumers. However, Ofgem has been designated as the economic regulator in this area, and its track record in setting consistent and effective price controls for gas and electricity network operators has been mixed. It is now under significant pressure to contain energy company profits, which may make nuclear developers nervous about the model and how it may operate in practice’.
So she is concerned about funding. ………………………………..
Prof. Malcolm Grimson from Imperial College London focused more on the economics: ‘The paper is rightly very clear that the economic risks of nuclear power – in short, that compared to other power options, much more of the cost of nuclear generation is front-loaded in the construction phase, so managing risks of cost or schedule overruns is a practically insuperable task for private capital – are such that heavy state involvement, probably up to and including direct state investment in new nuclear construction, is unavoidable.’
He added ‘The paper is also probably right in saying that the CfD/strike price structure which was created to fund Hinkley Point C probably will not be repeated……………………..
It will be interesting to see how the government (and the nuclear industry) responds to Porters analysis of funding and energy pricing policy, and especially to the point that, given the zero fuel costs of renewable, but also their operational costs, ‘determining the optimal generation mix of nuclear and renewable energy when taking the full costs to consumers into account is challenging’………………………..
she backs off talking about nationalisation,……………………… https://renewextraweekly.blogspot.com/2023/11/poor-nuclear-prospects.html
Engie demands close scrutiny of French nuclear power deal to ensure competition.
A recent deal regulating French nuclear power risks making
electricity more expensive and must be carefully monitored to ensure the
new rules do not strengthen EDF’s dominant position, power group Engie’s
CEO said on Wednesday. Vigilance will be needed to ensure EDF’s producer
and supplier activities are strictly separated, said Engie (ENGIE.PA),
which is the second largest electricity supplier in the country behind
state-owned EDF.
Reuters 22nd Nov 2023
Xcel’s Prairie Island nuclear plant will be out of commission until January
An equipment issue at the Prairie Island plant near Red Wing hasn’t impacted electric service, but it could lead to higher fuel costs that are passed down to Xcel’s customers on their monthly bills.
By Walker Orenstein Star Tribune, NOVEMBER 22, 2023
An equipment problem at Xcel Energy’s nuclear power plant near Red Wing has shut down the facility likely until January, causing a three-month outage for one of the utility’s biggest power sources.
The issue at the Prairie Island plant hasn’t affected electric service, but it could lead to higher fuel costs that are passed down to Xcel’s customers on their monthly bills.
On Oct. 19, one of two units at the plant shut itself down after an issue between the turbine and the electric grid, said Xcel spokesman Kevin Coss. The company said repairs are underway as it replaces cabling between the unit and the substation at the plant.
…………………………………Dave Lochbaum, a nuclear safety engineer formerly with the Union of Concerned Scientists, said the issue sounded like “an aging problem.” Other plants down for that long have had issues with their electric distribution systems, he said, and often with the generator itself.
“Things do wear out,” Lochbaum said.
…………………………………………………………… This is the second unplanned outage at an Xcel nuclear plant in recent months. Xcel’s Monticello nuclear plant shut down Sept. 27 after an issue with pressure control valves in the turbine during scheduled testing. Xcel told federal regulators that all safety systems functioned properly and there were no environmental or health impacts. Xcel made repairs to the plant, which is now running………… more https://www.startribune.com/xcels-prairie-island-nuclear-plant-will-be-out-of-commission-until-january/600321701/
Etopia Report: the nuclear problem – economic realities
Selected quotes for from the eTopia report 2023 (translated from the French)
“4.5. The pharaonic cost of accidents and uninsurability of Nuclear
For their part, the potential costs of nuclear incidents and accidents are difficult to take into account in the cost of the mWh, even if they are very real. Thus, the sabotage (still not clarified) in 2014 of one of the reactors at Doel cost Engie nearly 100 million euros. And in case largest accident, no insurance company in the world will agree to cover nuclear power plants.
The maximum amount of damage up to which liability of the operator is incurred, amounts to €1.2 billion for each accident nuclear ! The additional costs would therefore be borne by the taxpayers (see on this subject the Price Anderson Act, American legal framework of irresponsibility of operators on which the legislation is based today (European).
As an example – and scale – the cost of the disaster of Chernobyl is estimated, at a minimum, at more than 200 billion euros, that of Fukushima today exceeds 170 billion, while the counter still running… The Institute of Radioprotection and Nuclear Safety (IRSN) studied the economic cost of a nuclear accident, if it occurred in France. A serious accident would cost on average 120 billion euros, a major accident, 430 billion euros… or the GDP of Belgium.
In a recent interview, Patrick Pouyanné, boss of Total Energies, explains why the company will not go into nuclear power. Acknowledging that they had studied the issue very seriously, he concluded: “it’s very capital intensive and the risk cocktail is too important to a private company”. Too expensive and too dangerous, therefore. In Germany, a study commissioned by the Versicherungsforen Leipzig, a service provider for insurance companies, calculated in 2011 that if an insurance wanted to constitute sufficient premiums to a nuclear power plant within 50 years, for example, it should ask for 72 billion euros per year for civil liability!
In practical, the reactors cannot therefore be insured, unless that the price of electricity is multiplied by… twenty. The study explains years of market distortion in favor of nuclear energy and to the detriment of competition. Uwe Leprich from the University of Sciences applied sciences of Saarbrücken, demonstrates that “nuclear energy is not competitive when considered from an economic point of view appropriate in terms of regulatory policy. »
ETOPIA is a Center for animation and research in political ecology. Founded in 2004, based in Namur, our think tank brings together environmental activists, associate researchers, trainers and change agents.
Link eTopia Nuclear 2023 Report: https://rep.etopia.be/wp-content/uploads/2023/09/LIVRE_PROBLEME_NUCLEAIRE_WEB.pdf
The Russian nuclear industry during wartime, 2022 and early 2023
Bellona has published a new report that analyze the new footing on which
Rosatom, Russia’s power state nuclear corporation, has found itself as the
the war in Ukraine grinds on. It’s clear that the putatively civilian
corporation is now a direct participant in and beneficiary of Russia’s
seizure of Ukrainian nuclear infrastructure.
In the early days of the war,
Moscow’s troops marched into Chernobyl, site of the world’s worst nuclear
accident and now the host of numerous industrial scale activities aimed at
cleaning it up. Days later, it then overran the Zaporizhzhia nuclear power
plant — Europe’s largest such facility — making it the world’s first
nuclear power station to be taken as prize as the result of an armed
attack. Click here to download the report: The Russian nuclear industry during wartime, 2022 and early 2023
Bellona 21st Nov 2023
Finland extends nuclear reactor outage, pushing up power price
November 20, 2023 —by Essi Lehto and Nora Buli for Reuters
HELSINKI, Nov 20 (Reuters) – Finnish power company TVO said on Monday it had extended an outage at Olkiluoto 3, Europe’s largest nuclear power generator, while it undertakes repairs, likely boosting electricity prices.
The 1,600 megawatts (MW) unit, known as OL3, on Sunday suffered an unexpected outage due to a turbine problem, TVO and Nordic power bourse Nord Pool said.
“We are looking into a fault on the turbine side and when we find out what it is, we can say what caused it and when we can return to electricity production,” said a TVO spokesperson.
“We will issue a statement as soon as we know more.”
The outage was expected to drive up short-term power prices in Finland and the Nordic region, an LSEG market analyst said.
TVO had initially predicted a return to full production capacity on Monday morning, but in a regulatory filing said it was instead aiming for a partial restart to take place on Tuesday…………………… https://www.nasdaq.com/articles/finland-extends-nuclear-reactor-outage-pushing-up-power-price
—
U.S. Bets on Small Nuclear Reactors – But major obstacles loom.
U.S. Bets on Small Nuclear Reactors to Help Fix a Huge Climate Problem.
The dream of reviving nuclear power in the U.S. rests on a new generation
of smaller reactors meant to be easier to build.
But major obstacles loom.
Nearly a dozen companies are developing reactors that are a fraction of the
size of those at Vogtle, betting that they will be quicker and cheaper to
build. As the United States looks to transition away from fossil fuels.
But the push to expand nuclear power, which today supplies 18 percent of
electricity, faces enormous hurdles. In a major setback last week, the
first serious effort to build small reactors in the United States was
abruptly cancelled amid soaring costs. While other projects are still
moving forward, the industry has consistently struggled to build plants on
time and on budget. The Nuclear Regulatory Commission, which oversees the
safety of the nation’s nuclear fleet, is less experienced with novel
reactor technologies.
And the problem remains of how to dispose of
radioactive waste. “These nuclear megaprojects had just gotten way too
complex,” said Jay Wileman, president of GE-Hitachi Nuclear Energy, which
is designing a slimmed-down version of its boiling-water reactor that is
only 300 megawatts — one-quarter the size of the 1,117-megawatt units at
Vogtle. Ontario Power Generation plans to deploy four of them in Canada,
hoping to bring down costs as it builds the same design again and again.
The Tennessee Valley Authority is considering at least one.
Other companies
are exploring radically new reactor designs that, in theory, can’t melt
down and don’t require big containment domes or other expensive
equipment. Some might be manufactured in factories and assembled on-site,
potentially lowering costs.
The approval process can be slow. To date, the
N.R.C. has certified only one small reactor design, developed by NuScale
Power. NuScale’s light-water technology is similar to existing plants,
but the company argued that smaller reactors required different safety
rules, such as smaller evacuation zones in case of accidents.
Securing approval took a decade and cost $500 million.
Last week, NuScale announced
it was cancelling plans to deploy six 77-megawatt reactors in Idaho by
2030, which would have been the nation’s first small nuclear plant. The
problem was that it couldn’t sign up enough customers. Soaring costs
didn’t help: In January, NuScale said the price of building the reactors
had jumped from $5.3 billion to $9.3 billion, citing higher interest rates
and materials costs. On a per-megawatt basis, the project had become as
expensive as Vogtle.
“The small reactors being hyped by the nuclear
industry and its allies are simply too late, too expensive, too uncertain
and too risky,” said David Schlissel, an analyst for the Institute for
Energy Economics and Financial Analysis, who has urged utilities to pursue
alternatives like solar and geothermal power. Other challenges loom. The
United States isn’t yet producing enough of the specialized fuel for
advanced reactors. There’s no long-term plan for nuclear waste. Siting
new plants can be contentious: Last year, officials in Pueblo County,
Colo., withdrew plans to replace a retiring coal plant with a reactor after
local backlash.
New York Times 12th Nov 2023
Consortium green lights European NuScale style (!) small nuclear reactors
Construction Europe By Mike Hayes, 15 November 2023
Industrial bodies from Romania, Italy and Belgium have formed a consortium to advance nuclear energy technology in Europe.
Romanian and Belgian nuclear research centres RATEN and SCK CEN, Italian nuclear company Ansaldo Nucleare and engineering and energy R&D agency ENEA, will take part in the initiative, in collaboration with the US-based nuclear technology company Westinghouse Electric.
The primary objective of the consortium is to develop a small modular lead-cooled fast neutron reactor (SMR-LFR…….
The proposal was reportedly to mirror the efforts of the US NuScale project – a project which has now been cancelled, following a doubling of construction costs.)………………………………https://www.construction-europe.com/news/consortium-green-lights-european-small-nuclear-reactors/8033034.article
Are staff shortages at Sellafield nuclear power plant affecting safety at the site?
QUESTIONS have been asked over whether a staff shortage at Sellafield
nuclear power plant is affecting safety at the site. The issue was raised
at this month’s meeting of the west Cumbria sites stakeholder group at
Cleator Moor Civic Hall. Neil Crewdson, Sellafield’s site director, was
presenting a progress report on various developments at the site where he
highlighted recruitment issues and a difficulty in attracting staff. But he
outlined a number of ways in which they are hoping to tackle the situation
and turn things around. He said there used to be 200 vacancies a year and
it had risen to 900. He added: “Post Covid we had a step change in people
leaving. With salaries we are trying to make sure they are more
competitive.”
Carlisle News & Star 14th Nov 2023
https://www.newsandstar.co.uk/news/23923195.rising-number-vacancies-sellafield-covid/
1 This Month
4 August – WEBINAR – Hiroshima & Nagasaki: Nuclear Bombs Never Again
Tuesday, Aug. 4 at 5 pm PT / 8 pm ET.
Aug 5, 2026 10:00 AM in Australia/Melbourne
Join the Nuclear Bombs Never Again webinar on August 4th at 5pm Pacific Time / 8pm Eastern Time / 9am Japan Standard Time.
Cross generational voices at the intersection of Japan-Korea-US policy and militarization will share their lived experiences, nuclear impacts in these contexts, anti-war strategies, and actions you can take to advocate for a world with Nuclear Bombs Never Again. This 75-minute event is co-hosted by WILPF US and Korea Peace Now.
22,000+ miles voyaging for nuclear disarmament
and a radiation-free environment https://vfpgoldenruleproject.org/
To see nuclear-related stories in greater depth and intensity – go to https://nuclearinformation.wordpress.com
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