UK’s Nuclear Financing Bill – very strange logic – with £40 billion to £60 billion for a new nuclear power station seen as a good thing.
Last week Tim Farron MP sent the following reply to Radiation Free Lakeland when we urged him to vote NO to the public paying for new nuclear build in the Nuclear Financing Bill yesterday. Our MP’s opposition to new nuclear is heartening. But this opposition was not reflected in the vote of
458 for to 53 against (how many others opposed did not vote?) the Bill at third reading.
The Bill will now be considered in the House of Lords. This vote is truly shocking. Alan Brown MP said during the debate Government “has been very good at telling us about the mythical savings that will
accrue via the regulated asset base funding model introduced by this Bill—they are estimated at between £30 billion and £70 billion. What the Government are not so good at is telling us what money they want to commit for the likes of Sizewell C. In effect, they are telling us, ”Let’s save money for bill payers by signing up to a less bad deal for a new nuclear project.”
According to the impact assessment, the capital and financing cost is going to be in the region of £40 billion to £60 billion for a new nuclear power station.
It is a strange logic to tell us that £50 billion being added to our energy bills at the time of a cost of living energy crisis is somehow a good thing. By default, the Government are also confirming just how much of a stinking, rotten deal Hinkley Point C was for bill payers if we are saying that we can save that much money compared with the contracts for difference model for Hinkley C.”
Radiation Free Lakeland 11th Jan 2022
UK’s Nuclear Energy (Financing) Bill passes in House of Commons
New funding plan for Sizewell C station clears final hurdle in Commons https://www.eadt.co.uk/news/business/funding-plan-sizewell-c-suffolk-clears-commons-8612482
Matthew Earth January 10, 2022
Plans for a new way of funding nuclear power plants – including Sizewell C on the Suffolk coast – have cleared their final hurdle in the House of Commons.
Business Secretary Kwasi Kwarteng described the passing of the Nuclear Energy (Financing) Bill on Monday evening as the “path to leadership and innovation”.
The Bill creates a new framework for funding nuclear power plants, after worries from investors have led to current projects stalling.
It would allow pension funds and other institutional investors to provide cash for power stations through a regulated asset base funding model.
Energy bill payers would contribute towards the cost of new power stations during construction through their bills, with the aim of giving investors greater certainty after projects such as Sizewell C faced delays due to concerns over the financial risks of construction.
However, Labour has said bill payers could be exploited as a “milk cow” under the new scheme if power stations face delays during building work.
MPs voted 458 to 53 in favour of the Bill at third reading, and it will now be considered in the House of Lords.
The government has recently agreed a six-week delay to the final decision A final decision on whether the station will be built is expected later this year.
Ho hum – Flamanville nuclear power project delayed again.
Electricite de France SA on Wednesday said that it has revised the
schedule for its Flamanville 3 nuclear reactor project in northern France,
citing the current stage of progress, and difficulties caused by the
coronavirus pandemic.
The French energy company said the fuel-loading date
has been rescheduled to the second trimester of 2023 from the end of 2022.
Costs are now estimated at 12.7 billion euros ($14.41 billion) compared
with an earlier estimate of EUR12.4 billion. Several operations still need
to be carried out before loading the fuel into the reactor vessel and
carrying out start-up tests, EDF said.
Market Watch 12th Jan 2022
Germany to stick to its guns on phasing out nuclear and coal energy
 | |||
https://www.reuters.com/business/energy/germany-stick-guns-phasing-out-nuclear-coal-energy-scholz-2022-01-12/Reuters BERLIN, Jan 12 (Reuters) – Germany will push ahead with phasing out nuclear and coal energy despite rising energy prices, Chancellor Olaf Scholz said on Wednesday, adding that nuclear power made no economic sense given the high cost of storing waste…….
Scholz told parliament that his government would instead expedite the process of gaining permission to expand solar and wind farms to push prices down and meet power demand expected to rise to about 800 terawatts (TW) in 2030 from around 600 TW today.
Biden team weighs killing Trump’s new nuclear weapons
Biden team weighs killing Trump’s new nuclear weapons
Officials are considering canceling weapons that were backed by the last administration. By BRYAN BENDER POLITICO , 01/12/2022
The Biden administration is considering killing off several nuclear weapons programs that were greenlit by the Trump White House as an internal debate over the nation’s atomic arsenal enters its final phase.
According to nine current and former officials with knowledge of the deliberations, the Nuclear Posture Review, which is expected to be completed as early as next month, is not expected to make major changes to nuclear policy. Nor is it likely to recommend deep cuts to multibillion-dollar plans to build new intercontinental ballistic missiles, nuclear-armed submarines and stealth bombers, they said.
But national security officials are debating whether to jettison a new nuclear-armed cruise missile now in the research phase, retire a Cold War-era thermonuclear bomb, and possibly even remove a new “low-yield” warhead that the previous administration deployed on submarines, the current and former officials said. Most spoke on condition they not be identified in order to discuss internal deliberations and private conversations.
Such changes would fall short of the overhaul of nuclear policy and programs that President Joe Biden has long argued would help blunt a nuclear arms race, namely a declaration that the United States would not be the first to strike an adversary using atomic weapons.
Yet halting the Trump-era “add-ons,” as they are called, are considered the most likely cuts if Biden wants to reverse the previous administration’s elevation of nuclear weapons in U.S. strategy, due to resistance from military leaders to big changes as Russia and China build up their arsenals……………………………………………….
Even for the relatively modest changes to the weapons portfolio being considered, there is likely to be strong resistance on the Hill and inside the Pentagon. https://www.politico.com/news/2022/01/12/biden-trump-nuclear-weapons-526976
The European Union will need to invest 500 billion euros ($568 billion) in new generation nuclear power stations!
France24 9th Jan 2022
The European Union will need to invest 500 billion euros ($568 billion) in new generation nuclear power stations from now until 2050, the bloc’s internal market commissioner said in an interview published at the weekend.
“Existing nuclear plants alone will need 50 billion euros of investment from now until 2030. And new generation ones will need 500 billion!” Thierry Breton told the Journal du Dimanche newspaper. Breton also argued that an EU plan to label energy from nuclear power and natural gas as “green” sources for investment was a vital step towards attracting that capital. The EU is consulting its member states on that proposal, with internal disagreement on whether the power sources truly qualify as sustainable options.
France24 9th Jan 2022
To bankroll the failing nuclear industry, the UK government will push thousands into fuel poverty, with its Nuclear Energy (Financing) Bill
Bad for fuel poverty, bad for climate action: why MPs should vote against the Nuclear Energy Bill on Monday.
Controversial legislation is being rushed through parliament which will transfer billions of pounds onto
individual consumers, whilst affording them no protection from the spiralling construction costs of nuclear power. Introduced at the end of October when attention was rightly focused on COP26, the Bill has received little attention.
Yet it will have a profound impact on millions of families forced to foot the bill and will push thousands more into fuel poverty. So why is the government forcing more families into fuel poverty?
To bankroll a failing industry. With all 15 British nuclear power plants set to be closed by 2030, funding for eight new ones is in a state of collapse. Only one plant – Hinkley Point C – is under construction and
this is running ten years late and £4.5 billion over budget. The Bill enables energy companies to use a regulated asset base (RAB) model to transfer the construction costs – and financial risks – onto consumers
and start making a profit even before the plants generate any electricity.
Labour Outlook 9th Jan 2022
As nuclear power’s failures become more apparent, government and media enthusiastically promote it.
Why is support for nuclear power noisiest just as its failures become most clear? The UK government and mainstream media agree we need nuclear to avoid the worst climate change. They’re wrong – so why aren’t we hearing that? Open Democracy, Andrew Stirling, Phil Johnstone, 9 January 2022,
”…………………….This Green Party case is particularly noteworthy, since it is (strangely given underlying patterns of public concern on nuclear issues), the only organised political force in England collectively offering a consistently sceptical position about nuclear power in Parliament. With the longstanding Green grounding on this issue so strong over a half-century, it is especially strange that this development should come at a time when – at least for the Greens – the argument is more over than it has ever been.
What remains particularly striking about all the instances we cite is that none engage substantively with the real-world performance of nuclear power as it is. Despite vivid rhetorics around needs for ‘science-based’ policy – and occasionally colourful fear-mongering about intermittency ‘putting the lights out’ – none of these prolific voices address (let alone refute) the worldwide substantive picture that shows nuclear power overwhelmingly to be slower, less effective and more expensive at tackling climate disruption than are renewable and storage alternatives.
UK government policy
Despite the surface commitment, we see this trend in UK government energy policy too. Dig into more specialist civil service policy papers and you find spiralling prices and little in the way of an energy-related case for nuclear power. But – in a remarkable departure from the normally diligent attention to costs – the most recent energy white paper ignored all that boring economic detail. Official UK nuclear attachments are treated as an unquestionable given.
So, it might be understood why deep-rooted nuclear interests are seeking to hide these inconvenient facts behind pretty pictures of the West Highlands. But why is the media so keen to help, squirrelling realities away from view behind tales of repentant environmentalists? Why is so much new noise building up behind nuclear power in formerly critical political parties, just when the case has grown weaker than ever?
Profound issues are raised here, not only concerning the cost and speed of climate action, but about the independence and professionalism of the UK media and the health of British democracy as a whole. Whichever opinion we each take on nuclear issues – and whatever the undoubted uncertainties and ambiguities – we should all care very deeply about this. https://www.opendemocracy.net/en/opendemocracyuk/why-is-support-for-nuclear-power-noisiest-just-as-its-failures-become-most-clear/
New generation European nuclear power will need investment of 500 billion euros by 2030. Existing plants will require 50 billion.
New generation European nuclear power plants will require an investment of "500 billion [euros] by 2050," said in an interview in the Journal du dimanche (JDD) dated January 9 the European Commissioner for the Internal Market, Thierry Breton , which considers “crucial” to open the green labeling to nuclear power as part of the energy transition. "Existing nuclear power plants alone will require 50 billion euros of investment by 2030. And 500 billion by 2050 for new generation ones! », Affirms the French commissioner. European Commission unveiled a green labeling project for nuclear and gas power plants, which aims to facilitate the financing of installations contributing to the fight against climate change.......... Nuclear power is the subject of heated debates between the Twenty-Seven, a dozen countries - France in the lead - actively promoting nuclear power in the face of States very reluctant to the civilian atom, such as Germany or Austria. Le Monde 9th Jan 2022 https://www.lemonde.fr/economie/article/2022/01/09/nucleaire-nouvelle-generation-l-ue-devra-investir-500-milliards-d-ici-a-2050-estime-thierry-breton_6108727_3234.html
Nuclear Energy Financing Bill – a poisoned chalice for the UK public.
The UK & Ireland Nuclear Free Local Authorities (NFLA) is supporting calls to MPs to reject the Nuclear Energy Financing Bill when it comes back to the House of Commons for its Report Stage reading next Monday (10th January). The Chair of the NFLA Steering Committee, Councillor David
Blackburn, called the bill a ‘poisoned chalice’ for the British public:
“This bill will mean that consumers will ultimately pay the cost of developing any new ultra-expensive nuclear power plants through a surcharge applied to customers’ electricity bills. “Civil nuclear projects are
notorious for being delivered massively above budget and enormously behind time.
Consequently, there are only two main players in the nuclear market, and these have had their financial fingers burned. “The government wants to sweeten the pill by introducing a new method of financing nuclear plants called the Regulated Asset Base. This will mean that customers pay for cost
overruns and delays, and even the cost of abortive projects, whilst the developer and operator reap all of the rewards.”
NFLA 7th Jan 2022
The Nuclear Energy (Financing) Bill aims to provide for a new model for
financing new nuclear power stations in the UK. This briefing covers the
Bill’s progress through Parliament, through second reading and committee
stage.
House of Commons Library 7th Feb 2022
What ratepayers should know about the Plant Vogtle expansion
What ratepayers should know about the Plant Vogtle expansion January 6, 2022 By: Mary Landers , The Current
If you feel like you keep reading the same story about the expansion of Plant Vogtle, the only new nuclear power under construction in the U.S., you’re not exactly wrong.
Reactors No. 3 and 4 at Vogtle on the banks of the Savannah River near Waynesboro are more than five years overdue and $14 billion over budget. And that’s just a broad outline.
For more details, and for a take that’s sympathetic to consumers bearing these costs, read Georgia Conservation Voters‘ 32-page report “Ratepayer Robbery — The True Cost of Plant Vogtle.”
It includes timelines, data on expenses, and records of key decisions. The report reminds Georgia Power residential customers that they’ve been paying for Vogtle financing on their monthly bills for 10 years while industrial customers are exempt. It also spells out how Vogtle’s cost overruns actually increase Georgia Power’s profit. Footnotes link to news articles, and government and nonprofit documents.
“Plant Vogtle is a monumental example of failed leadership, oversight and lack of forethought,” said GCV Executive Director Brionté McCorkle. “What started out as an overpriced $14 billion project has ballooned into more than $30 billion, and that doesn’t take into account the future costs of completing the units.”
The report highlights the role of the Georgia Public Service Commission, an elected five-member panel, in moving the project forward. In a go/no go review of the project in 2017 after building contractor Westinghouse went bankrupt, expert witnesses and the PSC staff cautioned it wasn’t cost effective to continue. But the PSC voted to continue construction…………..
McCorkle is not against finishing the project, she said, but she is concerned about who will pay to finish it, residential ratepayers or Georgia Power shareholders.
“The responsible thing to do is to reassess the whole situation and reassess who’s picking up the tab for this and why customers are on the hook for paying for this energy,” she said.
Georgia Power, which owns 45.7% of the Vogtle expansion project, “has earned over $6 billion just from the delays of their own project,” the report states.
“They’re profiting, they’re making sky-high profits, while individual ratepayers are struggling to keep the lights on throughout a pandemic, people are losing family members,” McCorkle said. “And the squeeze is being felt everywhere. And our commissioners have a responsibility to do something about that.”
“Ratepayer Robbery — The True Cost of Plant Vogtle” concludes with a list of suggested actions. They are:
- The Georgia Public Service Commission should disallow Georgia Power from placing all of
these nuclear construction costs onto our bills and share rate increases more fully between
customer classes. - Voters should hold Commissioners accountable by ejecting them from their seats and electing pro-consumer candidates that commit to transparency.
- The Georgia State legislature should fully fund an independent Consumer Utility Counsel (CUC).
- The Georgia State legislature should create an independent study commission to document lessons learned.Read the entire report at https://www.scribd.com/document/550992905/Ratepayer-Robbery-The-True-Cost-of-Plant-Vogtle
- https://www.gpb.org/news/2022/01/06/what-ratepayers-should-know-about-the-plant-vogtle-expansion?fbclid=IwAR3zdntXhPLdXrqewGAw26Bt1FwsNXQSuLWXhN2cEvA3zJEyZyN5EZzgmyA
Hunterston nuclear power workers need a just transition to sustainable work. No more subsidies to the nuclear industry.
Workers are key to a just transition at the Hunterston nuclear plant,
which retires today, according to the Scottish Greens.
The nuclear sectorbhas used the occasion to call for more subsidies, despite the UK Government
already subsidising the sector and proposing to charge bill payers upfront
to pay for nuclear power stations that haven’t even been built yet, like
at Hinkley Point.
Commenting, Scottish Greens energy spokesperson Mark
Ruskell said: “Respect and thanks must go to the workers at Hunterston
who have kept our lights on over the decades and those who will continue
the important work of de-commissioning. “These communities deserve a just
transition away from an energy source that is expensive and neither clean
nor sustainable. The vast subsidies involved would be better spent
investing in modern renewable energy solutions that provide a long-term
future for workers and our planet.”
Scottish Greens 7th Jan 2021
https://greens.scot/news/greens-workers-key-to-hunterston-transition
European citizens divided over nuclear energy
European citizens divided over nuclear energy – What Greeks believe, https://greekcitytimes.com/2022/01/07/european-citizens-nuclear-energy/A “tie” prevails in the European public opinion for the production of energy through nuclear power plants, as recorded by the latest relevant Eurobarometer survey.
The differences, however, are large from country to country, with the weight of “NO” prevailing in the EU’s largest population, Germany, where 69% are against this form of energy.
It is also striking that in France, where about 70% of energy is produced in individual plants, the disapproval rate is quite high at 45%.
This number is particularly important if one takes into account that at this time the French government, with the personal mobilisation of President Emmanuel Macron, seeks to classify nuclear energy in “environmentally friendly” technologies.
This issue has provoked several reactions, both from some countries and from political forces, with the European Greens declaring a few days ago that they are considering appealing to the European Court of Justice against the Commission for its proposal.
Austrian Environment Minister Leonore Gewessler had hinted at something similar, with experts in European law questioning whether such an appeal could be justified.
Overall in Europe and with a sample of around 27,000 respondents the acceptance and rejection rates were exactly the same, with 46%.
3% had no opinion and 5% did not answer.
Opinions on solar (92%) and wind energy (87%) are overwhelmingly positive.
The countries with the highest percentages of negative opinion after Germany and Austria (66%) included Greece and Luxembourg.
Citizens are divided in Belgium, Denmark, Spain and Portugal, where YES or NO does not prevail.
High levels of support were recorded where nuclear power is already being used – the Czech Republic with 79%, Bulgaria with 69%, Poland with 60%, as well as in Finland where a new nuclear reactor has recently started operating. The survey also recorded slightly higher acceptance rates among men surveyed than women.
Government Wants YOU to Pay for New Nuclear
Thanks to CND for this information: The government is trying to force through controversial new legislation which will make consumers bankroll the nuclear power industry, whilst giving them no protection from spiralling costs. This will force thousands more families into fuel poverty. The electricity generated from nuclear power is double the costs of renewables. Nuclear […]
Government Want YOU to Pay for New Nuclear — RADIATION FREE LAKELAND (UK) ON BY MARIANNEWILDART
The government is trying to force through controversial new legislation which will make consumers bankroll the nuclear power industry, whilst giving them no protection from spiralling costs. This will force thousands more families into fuel poverty. The electricity generated from nuclear power is double the costs of renewables. Nuclear is hampered by generic design flaws, long delays and safety risks. It’s dangerous to people and planet. To meet Britain’s 2050 net zero goals, instead of forcing consumers to bankroll a failed industry, the government should be investing more in renewables.
Contact your MP, urging them to vote against the Bill on Monday 10th January. See briefing CND is sending to MPs.
We are writing now to urge you to vote against the Nuclear Energy (Finance) Bill which has its final reading in the House of Commons on Monday 10 January.
This controversial new legislation will force consumers to bankroll the nuclear power industry, whilst giving them no protection from spiralling costs. This will force thousands more families into fuel poverty.
The Bill will enable energy companies to charge consumers to construct and operate new nuclear power plants under a regulated asset base (RAB) funding model. Evidence shows that under such models, costs for nuclear power stations abandoned during construction as well as cost over-runs of $2.1 billion are all being passed on to consumers. Richard Hall, Chief Energy Economist at Citizens Advice, who gave evidence to the parliamentary Committee examining the Bill, argues ‘…consumers do not have any control over the risk. Essentially, they are the passive recipient of the risks.’
The electricity generated from nuclear power is twice the price of renewables. Nuclear is hampered by generic design flaws, long delays and safety risks. It’s dangerous to people and planet. To meet Britain’s 2050 net zero goals, instead of forcing consumers to bankroll this costly, inefficient and dangerous form of power generation, the government should be investing in renewables and making homes energy-efficient to reduce carbon emissions as well as energy bills.
As you know there is no “away” for nuclear wastes and the government are presently spending eyewatering amounts of money on public relations largely in Cumbria to try and persuade the County to bury heat generating nuclear wastes under our precious and irreplacable land and sea. The reason? Not for safety’s sake but in order to clear the decks for more nuclear crapola for which we all must pay time and time again in every way possible?
We urge you to vote against this Bill.
with many thanks
Marianne Birkby on behalf of
Radiation Free Lakeland
UK Parliament to debate Nuclear Energy (Financing) Bill on 10 January – may transfer billions of new nuclear costs to consumers
The Nuclear Energy (Financing) Bill has its final reading in Parliament on Monday 10 January. If passed, it will change the way the nuclear power industry is financed, transferring billions of pounds onto individual
consumers, whilst affording them no protection from spiralling costs. This will force thousands more families into fuel poverty. CND is urging all Members of Parliament to vote against this legislation.
CND Briefing 6th Jan 2022
1 This Month
23-25 October – on Zoom – World BEYOND War’s annual global conferenc
Shut down the radiation-damaged Heysham nuclear reactors now
To see nuclear-related stories in greater depth and intensity – go to https://nuclearinformation.wordpress.com
Say No to NASA’s Reckless Nuclear Reactor on the Moon
Say No to NASA’s Reckless Nuclear Reactor on the Moon
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