Canada’s Bruce County Council postpones voting on nuclear waste bunker plan
Bruce County defers vote to support the science behind a nuclear waste bunker, By Janice MacKay, Blackburn News, November 5, 2020 Bruce County Council has agreed to defer the vote on a motion made at today’s meeting to accept the Nuclear Waste Management’s proposed Deep Geologic Repository to store used nuclear fuel as a matter of settled science.Michelle Stein of the group “no DGR South Bruce” told council via skype Thursday during their meeting that the motion was premature when the science isn’t settled on the proposed nuclear fuel Repository……..
She says moving the waste could add increased risk as it is transported through local municipalities. She worries that since there is no nuclear fuel DGR operating in the world, developing one in South Bruce would be an experiment which could put local rivers and waterways at risk. She added that the nuclear fuel waste would also still need to be stored at the surface, as “the nuclear waste needs to go into cooling pools, and then it needs to be stored above ground for approximately 30 years before it’s even cool enough to be moved.” https://blackburnnews.com/uncategorized/2020/11/05/bruce-county-defers-vote-support-science-behind-nuclear-waste-bunker/ |
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Covid-19 divides and weakens the nuclear sector in South Africa
Covid-19 divides and weakens the nuclear sector in South Africa, Daily Maverick, By Chris Yelland• 5 November 2020
The coronavirus crisis is undermining the business plan and turnaround strategy at the Nuclear Energy Corporation of South Africa. The resulting losses are creating debilitating divisions between labour, middle and senior management, executives and boards of Necsa and its subsidiaries – as well as wage increases Following a tumultuous operational and management period for several years, with massive financial losses, new Nuclear Energy Corporation of South Africa (Necsa) chairperson David Nicholls and acting CEO Ayanda Myoli presented a restructuring and turnaround plan to Parliament on 20 May 2020……… While many considered the turnaround plan to be hopelessly optimistic even before the Covid-19 crisis in South Africa from March 2020, the impact of the national and international lockdowns are estimated to have resulted in the Necsa group taking a massive hit, which would increase the expected loss for 2020/21 to more than R300-million. …… While many considered the turnaround plan to be hopelessly optimistic even before the Covid-19 crisis in South Africa from March 2020, the impact of the national and international lockdowns are estimated to have resulted in the Necsa group taking a massive hit, which would increase the expected loss for 2020/21 to more than R300-million. https://www.dailymaverick.co.za/article/2020-11-05-covid-19-divides-and-weakens-the-nuclear-sector-in-south-africa/ |
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Texas governor wants Trump to oppose nuclear waste dump plan
Gov. Abbott Asks Trump for Help with Nuclear Waste in West Texas, Sanangelo Live, MATT TRAMMELL, NOV 6, 2020, ANDREWS, TX – Governor Greg Abbott sent a letter to President Trump last week urging him to put a stop to storing high levels of nuclear waste in rural West Texas.
In the letter sent to President Trump, on Sep. 29, Abbott gave a number of reasons for his opposition.
The main concerns the Governor has is the risk the nuclear material will bring to the Permian Basin.
Here is the full letter: [ but extract only posted here]
Dear Mr. President: Thank you for all you do to ensure a prosperous economy and strong energy industry in the United States. I write to express my opposition to the license applications to the Nuclear Regulatory Commission (NRC) for the consolidated interim storage of spent nuclear fuel and high-level waste at proposed sites within the state of Texas and within the state of New Mexico, close to the Texas border. A stable oil and gas industry is essential to the economy, and crucial to the security of our great nation. Allowing the interim storage of spent nuclear fuel and high- level nuclear waste at sites near the largest producing oilfield in the world will compromise the safety of the region.
The proposed facilities would be sited in the Permian Basin Region, which is the largest producing oilfield in the world ……..the Permian Basin is a significant economic and natural resource for the entire country, and the proposed storage facilities would place America’s recovering economy and energy security at great risk.
The NRC is currently evaluating issuance of a 40-year license to Interim Storage Partners (ISP) for a consolidated interim storage facility in west Texas as well as issuance of a 40-year license to Holtec International for such a facility in southeastern New Mexico. As proposed, the ISP facility would store commercial spent nuclear fuel and reactor-related materials, presenting a radiological risk greater than currently authorized for storage and disposal in Texas. ISP has also indicated it may seek to renew the license for an additional 20 years, which would result in an operating life of 60 years, or until a permanent facility is established. ……..https://sanangelolive.com/news/politics/2020-11-06/gov-abbott-asks-trump-help-nuclear-waste-west-texas
UK govt’s spin to Scotland, promoting nuclear submarines – but the Scots are nae sae daft
We cannot defeat our real enemies by using nuclear weapons, https://www.thenational.scot/news/18850915.cannot-defeat-real-enemies-using-nuclear-weapons/, Jim Taylor, Edinburgh, 6 Nov 20
At the conclusion of the programme, Rear Admiral John Weale tells us that no-one really wants nuclear weapons … but “we are planning to have them for the next 50 years”.
So it’s a done deal, whether we Scots support it or not. Our UK Union membership means we will be forced against our will to be party to this inhumane weapon system, and the increased danger it puts us in with its continued location at Faslane.
Trident’s replacement is currently reckoned to cost around £200 billion, before any expected design, construction, operational cost overruns and other usual ongoing cost increases. With the potential for a further cycle of replacement during the next 50 years, going forward, the cost to the nation will rise exponentially.
Clearly the Royal Navy took the unprecedented step to permit this programme being made at the behest of the UK Government trying to warm our feelings about nuclear weapons, recognise a “need” for them and in the hope this will drive a wedge in Scotland’s drive to call upon its Claim of Right and independence.
Isn’t the UK Government’s mistake assuredly that Scots are nae sae daft?
Nuclear now costs twice the price of renewables and the gap is growing. No need for Hinkley C, Sizewell, Bradwell etc

North writes,
” ………The Green Party have been arguing for many years in recognition of the work by Friends of the Earth, the Centre for Alternative Technology (CAT) in Wales and many others, that we do not need ‘further expansion of nuclear and gas turbines’ but to be far more clever about our energy use, easy to do now that renewables are cheaper than nuclear and new gas.
CAT has been at the forefront of development of research on renewable technology and Green building for some 50 years.
Their latest report ‘Zero Carbon Britain (Rising to the Climate Emergency)’ clearly demonstrates that the UK has the tools and technology to efficiently power this country with 100 per cent renewable technology (read the executive summary, it’s only eight pages long).
By using energy more efficiently we can power down by 60 per cent with particularly large savings in heating buildings and transport.
There is absolutely no need for nuclear power in our energy mix and we cannot afford it, let alone pay for cleaning up the sites at the end which taxpayers always end up paying for.
Nuclear now costs twice the price of renewables and the gap is growing.
How many Herald readers know that the electricity from the Hinkley Point nuclear reactor will cost UK consumers £92.50 per Kwh (the most recent offshore wind turbine fields are half of this)?
The deal was signed by (former Prime Minister) Theresa May and supported by Labour and Lib Dems.
The profits are going to the Chinese government which will run it for 40 years. The French firm (EDF) that has been building Hinkley Point and wants to build more nuclear reactors in the UK wants to cushion the financial blow of future nuclear power stations in this country by charging electricity customers a few extra pounds every month on their bill even now.
This is referred to as a new funding model, I’d call it a rip-off. Are people really happy to put billions of pounds into the coffers of the Chinese government and EDF rather than invest, as part of a Green New Deal, in insulation and draught-proofing of UK homes to keep us warmer, take over two and a half million households out of fuel poverty and permanently reduce everyone’s fuel bills. https://www.cravenherald.co.uk/opinion/opinion_letters/18824349.letter-no-need-nuclear-power/
Nuclear power – simply unaffordable for the Philippines
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DOE to submit ‘nuclear power plan’ to Duterte this December, Manila Bulletin, November 6, 2020, by Myrna M. Velasco” For BNPP’s repowering, Duterte previously instructed the energy department to also undertake a study on that proposal; and to assess the cost impact that will have on consumers’ pockets.
But on that particular sphere, Senate Committee on Energy Chairman Sherwin T. Gatchalian sounded off cynicism on claims that electricity rates in the Philippines will go down with the proposed repowering of the mothballed 620-megawatt BNPP project. “It’s not true that prices are lower because of the layers of technology that shall be integrated into the nuclear power facility to ensure its safe operations,” he claimed. Gatchalian noted that in Vietnam’s case, that country shelved its planned nuclear power development after determining that the resulting power price will just be comparable with other electric generating facilities — and yet there’s great degree of risk that they have to manage on the safety aspect of technology deployment. ………In the Philippines, the propounded revival of BNPP’s operations had been hurdled by concerns of ‘social acceptance’ in the many years that already passed; and there are also questions on where to source the US$1.0 billion to US$2.0 billion funding for BNPP’s rehabilitation.The other major issue is which entity shall be designated to operate the plant, since the Electric Power Industry Reform Act (EPIRA) already prohibits state-run National Power Corporation (NPC) from engaging into operation or investments in power generation… |
A new nuclear power plant at Sizewell is the wrong choice for a zero carbon Britain
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A new nuclear power plant at Sizewell is the wrong choice for a zero carbon Britain, The climate column: The proposed Sizewell C will not produce electricity until about 2040, which it means it cannot reduce the UK’s carbon emissions with the speed necessary to avoid catastrophic tipping points The Independent , Donnachadh McCarthy@DonnachadhMc 6 Nov 20,
Just weeks ago, the Climate Assembly set up by parliament rejected nuclear power as an answer to creating a zero-carbon economy. This was due to cost, safety and difficulties with waste storage and decommissioning. Yet Boris Johnson is reported to be about to commit Britain to buying another hugely expensive nuclear power station. As this new plant would not be producing electricity until about 2040, it means it cannot reduce the UK’s carbon emissions with the speed necessary to avoid catastrophic tipping points, whereas cheaper renewables can be up and running within a couple of years of being commissioned. Consider the following analogy. Four years ago, you needed to replace your gas boiler and a company came along and offered to sell you the world’s most expensive experimental boiler ever. It’s been trying to build the first four of them for over 20 years but had not yet got any actually working. The first one it tried to build, in Finland, is already 13 years behind schedule and has more than tripled in price. The second one it tried to build, in France, is 10 years behind schedule, now costs six times the original quote and has encountered monumental safety issues. They then tell you the boiler was filled with lethal toxins, which if the boiler’s seals broke, could explode and kill everybody in your house. All your neighbours would have to be permanently evacuated immediately without being allowed to collect their lethally contaminated belongings and the area around your boiler would become an exclusion zone for generations. The sales-person added that the boiler will cost up to twice as much to run as your current boiler. They demanded you sign a 35-year inflation-proofed deal that makes it difficult to switch to a cheaper renewable energy supplier or use energy efficiency measures to reduce your need for the boiler. Every single bank refused to lend you the money to install your new boiler, as they believed it was a financially insane project to lend money to. There was another problem. The experimental boiler continuously produces highly-toxic explosive waste that the supplier, after 70 years of trying, still has no idea what to do with. You would have to store it in your cellar, until somebody miraculously comes up with a way to store it safely for millennia. The salesperson neglected to add that you had to pay for the costs of removing the boiler at the end of its life but that the process takes hundreds of years to complete. I tell you this imaginary tale to try and explain the utter insanity of what the UK government did when it signed the contract with EDF Energy to build a new Hinkley Point nuclear power plant in 2016. Hinkley is already a year behind schedule and nearly £3bn over budget.
And now imagine this. Despite all of the above and knowing that renewable energy alternatives have already fallen to less than half of the cost of this experimental boiler and that new renewable electricity storage technologies have been likewise collapsing in price, the same contractor comes back to you to persuade you to buy another of these hugely expensive boilers for your second home. Unlike almost every single government in the world, Boris Johnson’s government is reported to be planning on announcing in the next few weeks that the UK will agree to build a second new EDF nuclear power plant at Sizewell in Suffolk. Why would any supposedly sane country sign such crazy energy contracts? ……… https://www.independent.co.uk/voices/nuclear-power-plant-sizewell-boris-johnson-b1622086.html |
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Poland’s nuclear energy plans not likely to be supported by the European Commission
Nuclear power is not considered environmentally sustainable, and there is little hope this approach will change. Therefore, the possibilities for bankrolling nuclear energy are very limited.
Brussels’s impact on Poland’s nuclear project, https://biznesalert.com/brusselss-impact-on-polands-nuclear-project/ : Paweł Wróbel, @Pawrobel 4 Nov 20, Poland’s nuclear power plant constrsuction program has been riddled with ambiguity for many years. Neverthele, among the few certainties remains the necessity to abide by the EU law on granting state aid. The project cannot happen without Brussels. Investments in nuclear energy are one of the most expensive in the energy sector, which is why building a nuclear plant in Poland will not be possible without state support. Therefore, the European Commission will have to approve the selected financing model – Paweł Wróbel, CEO of Gate Brussels, writes for BiznesAlert.pl.
Sizewell C – Britain walking into a trap that benefits only the nuclear industry
Sizewell C – Britain walking into a trap that benefits only the nuclear industry, Sizewell C: Dodgy deals and obscure decision-making https://eciu.net/blog/2020/sizewell-c-dodgy-deals-and-obscure-decision-making By Jonathan Marshall, Head of Analysis@JMarshall_ECIU, 02 November 2020 This weekend the BBC reported that the Government was close to reaching a deal with EDF to construct a new nuclear power station at Sizewell in Suffolk. Sizewell C is expected to be a carbon-copy of the plant under construction at Hinkley Point, and will help fill the gap left as Britain’s existing nukes retire.There is little point in re-hashing the well-worn arguments about whether we need new nuclear in the UK. No changing of minds on either side looks likely, nor is there much point trying to counter the six-or-so lines from either side about why nuclear is a good or bad choice.
What is worth scrutiny, though, is how the Government appears to be making another hash of agreeing terms and penning a contract.
Just three years ago the National Audit Office delivered a stinging rebuke of the deal with EDF for Hinkley Point C, saying it has ‘locked consumers into a risky and expensive project with uncertain strategic and economic benefits’; that efforts to ensure value for money had been overlooked; and that there remained a risk that the developer would come cap-in-hand for more cash before the project was finished, at which point the Government would not be in the strongest position to say no.
Backroom dealings
And it is hard to see how the Government has let itself be backed into this corner, allowing EDF to present itself as ‘the only option’ for the new nuclear it is no doubt saying is essential to reach net zero.
Sizewell has even received public backing from those usually in favour of a small state and as little Government intervention as possible, a position miles away from what is seemingly imminent.
Endless stalling on policy decisions and lack of support for other plants has seen other proposals evaporate, changing economics have seen developers pull out globally (Japan, for example, has said it will get to net zero without new nuclear), and a constant drumroll of political support for the as-yet-to-exist Small Modular Reactors rather than traditional large plant have left EDF as the only player in town.
The Government, well aware of the benefits of pitting projects against each other, has been lauding the successes of doing exactly that in auctions for offshore wind, in the capacity market and in a host of nascent markets for flexible power. Yet, nuclear remains exempt.
And while there are some factors that would make an auction system more difficult – high project start-up costs, lengthy safety sign-offs, etc, it is surely not beyond the wit of ministers and their advisors, and the civil service, to force something into place.
The only winners from the current behind-closed-doors set-up are the nuclear industry, which is not an effective way to make policy.
Time-Limited Backstop
The desperation to bring costs down for nuclear mean British electricity users are set to be on the hook for the costs of building Sizewell before it starts generating.
This situation would raise eyebrows in many instances, but for a scheme based on projects currently running wildly over budget and embarrassingly behind schedule, this seems like madness.
There are few guarantees in British media, but stories about rising energy bills are about as close as one can get. Extra costs on households to pay back investors, rather than for actually producing energy, mean this deal could be a toxic legacy for years to come.
It remains to be seen what protections from overrunning costs are put in place for consumers, and what guarantees that the cost agreed through a Regulated Asset Base (RAB) model will not increase as the project inevitably runs over budget. Both of these are pretty essential for allaying concerns that the public is being sold another white elephant.
Going Blind
On finances, the latest BEIS assessments of generation costs didn’t include nuclear, apparently for commercial confidentiality reasons. We should now expect these to be updated, especially as the latest iteration included the associated ‘system costs’ of different technologies. Doing this for nuclear (which of course imposes other costs on the power grid due to its inflexibility) is now vital.
Where are the assessments of how new nuclear can fit into increasingly smart and flexible power grids? Churning out a constant stream of electrons is good for keeping the country running, but it would be more useful if there was some data to show how it impedes on the rest of the grid.
What thought has been given to location? The Suffolk coast is set to be the landing point for a huge amount of offshore wind capacity – is it the best place for a new nuclear plant? Or just the only place still in the running?
How could the power output from Sizewell be used most effectively? What are the economics behind building an electrolyser nearby to convert excess power into hydrogen? Can the waste heat be made use of?
Providing answers to these sort of questions (just a few of many more) would help us to have a more grown up debate around nuclear, and would help understand the reasons for signing what, at first sight, looks like another dodgy deal.
Theresa May’s decision to sign off Hinkley was met with widespread dismay, for the reasons above and for many more. Without more clarity on Government thought, it appears our current Prime Minister could be walking into the same trap.
UK nuclear weapons making to be run by the Ministry of Defence
Public Technology 3rd Nov 2020, The government has claimed that bringing the manufacturing of nuclear
warheads back in house will enable it to better “invest in technology”.
Since 1993, the Atomic Weapons Establishment – which is responsible for
developing, manufacturing, and managing the UK’s arsenal of nuclear
weapons – has operated as a private company, under contract from the
government.
Hunting-BRAE held the contract until 1999, at which point a
25-year deal was awarded to AWE Management Ltd, a joint venture led by 51%
shareholder Lockheed Martin, supported by Serco and Jacobs Engineering.
Defence secretary Ben Wallace announced in parliament this week that,
following a review, the “Ministry of Defence has concluded that AWE will
revert to a direct government ownership model”. From as early as next
summer, the nuclear agency will become an arm’s-length government body,
wholly owned by the ministry.
Basingstoke Gazette 3rd Nov 2020, THE government will take control of a nuclear weapons manufacturer in
Aldermaston. AWE, which also has a site in Burghfield, is to be taken over
by ministers to “simplify and further strengthen” the relationship between
the operator and the Ministry of Defence. It means that Lockheed Martin,
which owns 51 per cent of AWE Management Ltd, and Serco, which owns 24.5
per cent, will be stripped of their control of the base when the lucrative
25-year contract comes to an end, with Sky News reporting that it could be
as soon as next year.
https://www.basingstokegazette.co.uk/news/18842320.awe-aldermaston-taken-government/
Warning to UK government on Sizewell nuclear power project – is it value for money?
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New Civil Engineer 4th Nov 2020 Energy and Climate Intelligence Unit head of analysis Jonathan Marshall has urged caution as the government looks increasingly likely to approve plans for the Sizewell C nuclear power station.
According to the BBC, talks between the government and Sizewell contractor EDF have “intensified in recent weeks”. However, Marshall emphasised that renewable energy solutions offer more flexibility than nuclear. “If you look at the amount of money involved in building nuclear power stations, it’s pretty easy to come up with something renewables-based that’s as firm and moreflexible,” he said. “There are not many people saying we should have loads of nuclear apart from the nuclear industry. There’s also the risk that by the time power stations are built the grid is running in a different way because they take so long to build.”
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The world needs, and awaits, a reasonable and decent American Presidency, under Joe Biden
I am hopeful that Joe Biden and the Democratic Party will win this American election.
What has this got to do with this website, which is dedicated to issues of nuclear and cimate?
Everything!
That is because the human race has got to solve these global horrors – with reasonableness, decency and fairness. That demands thoughfulness, considerateness of others, co-operation, and global effort.
The United States of America used to be a global leader – up until recently, when it has been cursed with the presidency of a narcicisstic bully, Donald Trump. Four years of a government run by this sociopath have impeded the world’s effort to slow, preferably to stop, global heating. Trump has been a willing servant of the nuclear weapons industry , indeed an investor, profiting from it. He contines to foster distrust, hatred, and division among people.
I have not been a great fan of Joe Biden. But he does bring a decency and reasonableness to politics – qualities that are essential for America and the world to face the big problems. The Democratic Party does bring a mode of co-operation, and an intelligent respect for fair and legal processes.
A historic moment of threat to American democracy
Don’t underestimate the threat to American democracy at this moment Corey Brettschneider https://www.theguardian.com/commentisfree/2020/nov/04/american-democracy-election-threat-trump–5 Nov 20
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Even if Biden does win and the results are accepted, we will have lived through a moment that showed our democracy is less stable than we assumed. n the early morning hours after election day, the president of the United States showed his authoritarian ambitions. He launched an attack on our democratic system at a moment when it is at its most fragile in recent memory. His lies about the results of the election erode trust in the fairness of the democratic process and risk provoking violence. Now we are dependent on media, especially the outlets most popular with Donald Trump’s base, to rein in the chaos he is encouraging. This grave threat comes from the president’s false declaration of victory, despite no evidence that he had won the election, and with millions of valid votes yet to be counted. He referred to any suggestion that he had lost as “a fraud on the American public”. In one breath, he declared that “we want all voting to stop” and that “we don’t want any ballots to be found at four in the morning.” This conflation of voting after election day and counting votes after election day – a standard practice in every election – is deeply misleading and deeply dangerous. In this respect, its damage is far worse than many of the many fibs Trump has made while in office. His suggestion is a direct lie, one that comes while millions of voters look to him to understand who our legitimate president will be. In past elections, the media – specifically TV networks – served as the main gatekeepers of results, but this president communicates directly to his base through social media, avoiding the reputable news organizations that could factcheck him in real time. This means that his unsubstantiated claims of victory – and of electoral fraud perpetrated by Democrats – are being fed directly to his base. Many will believe him, undermining confidence in the ultimate legitimate results and sowing discord and potentially violence. The problem of Trump’s unfiltered reach coupled with his blatant lying is compounded by social media executives’ inadequate handling of the situation. Facebook and its irresponsible CEO, Mark Zuckerberg, refused to directly challenge the president, even while receiving credit from some observers for reminding voters that “final results” may take days. They did not call Trump’s statement a lie or take strong steps to counter it. Twitter went far enough to say that the president’s message might be “misleading”, but it too failed to take a strong and definitive stand on a statement that is not just possibly, but indisputably, incorrect. Surprisingly, Fox News might be the media outlet that holds the country together. The network called Arizona for Joe Biden around the same time as the Associated Press and has insisted on reporting real numbers, with its reputable non-partisan news anchors leading the coverage. Ultimately, a large number of Trump voters might turn to Fox to decide whether to trust official results or their president, who has told them that those disputing his victory are committing fraud. If Fox continues to say that any early declaration of victory is incorrect, viewers might be more likely to have the patience required to wait for what might be days, with twists and turns as more ballots are reported, until a winner is declared. Still, it is not only the media outlet that should be tasked with maintaining the public’s confidence in our electoral machinery. Part of Trump’s pattern of deception to his base involves invoking bizarre and completely erroneous legal claims. On Tuesday night, Trump promised to take up his concerns about ongoing ballot counting to the US supreme court. However, if ballots are received on or before election day, there is no serious legal claim to support Trump’s seeming contention that any ongoing ballot counting after the election is fraudulent. Indeed, in a decision the president disparaged on Twitter, the US supreme court refused to undo the Pennsylvania supreme court’s decision that even ballots that arrived three days after election day would count as long as they were postmarked by election day. I cannot overstate the danger of this moment. Right now, it is essential that Republican members of Congress and the vice-president make it clear that the ballots need to be counted. Both candidates and parties should be modeling respect for our democratic process, patiently waiting for the legitimate results, and encouraging all Americans to do the same. Instead, Trump’s claims risk sowing violence, confusion and an erosion of faith in the bedrock principles of American democracy. Amid this chaos, what is left for us to do? Americans who believe that every person’s ballot should count in an election must insist on truth and spread this message as widely as possible on social media, at our dinner tables and, if need be, through peaceful demonstrations. That is the only way to counteract Trump’s lies and his threat of upending our democracy. Even if Biden does win and the results are accepted, we will have lived through a moment that showed our democracy is less stable than we assumed. Strengthening it and reinforcing its protections must be a priority of a Biden presidency.
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No guarantee that Britain’s £20 billion Sizewell nuclear project will actually go ahead
Planet Radio 1st Nov 2020, No one should assume Sizewell C is now a foregone conclusion’. Campaign group Stop Sizewell C say there are still many obstacles to overcome, following reports that the Government is ‘close’ to giving the project the green light. The group say they’ve written to the Business, Energy and Industrial Strategy Secretary of State, Alok Sharma, to seek assurances about the due process behind the Sizewell C project.https://planetradio.co.uk/greatest-hits/norfolk/news/sizewell-not-a-forgone-conclusion/
Before the UK’s govt White Paper, approval to be given for Sizewell nuclear development
UK to approve new nuclear plant at Sizewell C ahead of White Paper: report, S and P Global Author, Henry Edwardes-Evans Editor, Norazlina Jumaat 3 Nov 20,
HIGHLIGHTS EDF’s second UK twin reactor EPR plant Details of new funding model awaited 10-point plan and White Paper imminent London — The UK government is close to approving Sizewell C, the 3.2 GW EPR nuclear power station project proposed by EDF Energy in Suffolk, England, the BBC reported late Oct. 30…… Key to the new project would be the funding model, RBC said. “It may be that the government takes a direct stake in the project, and that the construction will be remunerated under some form of RAB [regulated asset base] model with a “regulated” return,” the bank said. RAB modelThe government has been working on a RAB-based funding model for new nuclear plants, but a proposal due last summer has yet to materialize. Under a RAB model, energy regulator Ofgem would establish an estimated allowable cost for the project and set a fixed rate of return for investors. Payments from UK retail power consumers would be made during construction and operation to a project company, with payments increasing over the construction period in line with cumulative spending.Sizewell C could generate power at a cost of GBP40-GBP60/MWh if construction was funded via a RAB model, Sizewell C’s finance director Julia Pyke said on Oct. 21. The final cost of power within the estimated range would be “determined by how government allocates risk in terms of the cost of money,” she said.
Further details on a funding model for Sizewell C were likely to be included in the government’s Energy White Paper, Pyke said.In October, 2015, EDF and China’s CGN signed a heads of terms agreement to develop two 1.65 GW EPR reactors at Sizewell C — EDF taking 80% and CGN 20% during the development phase.
Europe’s first EPRs, being built in Finland and France, are many years behind schedule and billions of euros over budget.,…… https://www.spglobal.com/platts/en/market-insights/latest-news/electric-power/110220-uk-to-approve-new-nuclear-plant-at-sizewell-c-ahead-of-white-paper-report |
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