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Manipulations suggested to keep up tax-payer funding for EDF’s nuclear business

L’usine Nouvelle 28th Nov 2018 Ongoing reflection on EDF’s structure could lead to the creation of a
public holding company at the head of two major subsidiaries, with the
group’s nuclear fleet on one side and the sale of its production on the
other a group of activities that are most concerned by the energy
transition.

EDF could be reorganized into three blocks, with a central
public holding company controlling two major subsidiaries, one dedicated to
nuclear power and the other to energy transition. The aim would be to
secure the financing and operation of the group’s power stations by
protecting them from the vagaries of the market, which would amount to
making nuclear power an “essential asset” for France, in particular to
justify the operation. to the European Commission.

December 1, 2018 Posted by | France, politics | Leave a comment

France will face a massive task when, inevitably, it must close and clean up its old nuclear reactors

FT 28th Nov 2018, If you think Britain has a tough job replacing its ageing fleet of nuclear
reactors, spare a thought for France. The world champion of atomic energy
is approaching a cliff edge in its electricity production.
The bulk of its fleet of 58 nuclear reactors was built in a remarkable 15-year burst of
construction in the 1980s and 1990s. France has not brought on stream a new
reactor for 20 years. Even if the lives of its plants were extended from 40
to 60 years, in itself an expensive proposition, 75 per cent of its nuclear
generating capacity would be gone by 2050.
The French government’s 10-year energy plan unveiled on Tuesday by President Emmanuel Macron was supposed
to set a clear framework allowing EDF, the monopoly nuclear operator, to modernise its fleet and for renewables to take a bigger slice of electricity production.
In the end, Mr Macron deferred many of the hard choices – but it was still a good result for EDF. One of the big choices was how quickly to scale back nuclear, which accounted for 71 per cent of electricity generation last year.
Environmentalists want faster decommissioning of older plants to encourage renewables. Some experts say
plants should be taken offline sooner rather than later, to avoid leaving EDF with the monumental task of decommissioning scores of them at the same time.
https://www.ft.com/content/c7421fbe-f326-11e8-9623-d7f9881e729f

December 1, 2018 Posted by | France, politics | Leave a comment

Finland’s super-expensive Olkiluoto nuclear project delayed yet again

World Nuclear News 29th Nov 2018, The start of regular electricity generation at the Olkiluoto 3 (OL3) EPR has been pushed back by a further four months and is now expected to begin
in January 2020, Finnish utility Teollisuuden Voima Oyj (TVO) announced
today.

Last month, the plant’s supplier – the Areva-Siemens consortium –
announced it wanted to update the schedule for completing the unit as
commissioning tests were taking longer than planned. TVO said it has been
informed by the Areva-Siemens consortium that fuel will now be loaded into
the reactor core in June 2019, with grid connection to take place next
October, and the start of regular electricity generation scheduled for
January 2020.

Under the previous schedule provided by the plant supplier in
June this year, fuel loading was expected in January 2019, grid connection
in May and the start of regular electricity production in September.
http://www.world-nuclear-news.org/Articles/New-delay-in-start-up-of-Finnish-EPR

December 1, 2018 Posted by | business and costs, Finland, politics | 1 Comment

Saudi Arabia’s Crown Prince Mohammad Bin Salman (MbS) and his goal of a nuclear kingdom

The Crown Prince May Build Himself a Nuclear Kingdom https://nationalinterest.org/blog/middle-east-watch/crown-prince-may-build-himself-nuclear-kingdom-37292 The Trump administration should keep a close eye on Saudi Arabia’s nuclear connections and activities. by Ronen Dangoor, 28 Nov 18

The horrific murder of Jamal Khashoggi shed light on the reckless and dangerous decisionmaking process of Saudi Arabia’s Crown Prince Mohammad Bin Salman (MbS). In addition to the latest crisis The New York Times recently published a story about how the prince’s closest security personnel sought to hire private foreign companies to assassinate senior Iranian officials—an act that could have trigger a regional military conflict. This conduct follows a string of other bizarre events in the last few months, initiated by MbS.

The crown prince has demonstrated arrogant, cruel, amateur and capricious behavior. His aggression has been left almost unmonitored by checks and balances inside the Saudi hierarchy. Indeed, MbS has constrained all his potential rivals and has taken full controlof Saudi Arabia’s security and intelligence bodies. As the Khashoggi scandal has proven—such power enables dictators to secretly execute dangerous operations. In parallel, he managed to become the darling of the West after he initiated economic reforms and launched his so called modern 2030 vision .

Now add Saudi’s long history of nuclear ambitions to the mix. For years, Saudi officials have warned that Saudi Arabia will not curb its nuclear ambitions if it will sense a threat to its national security, or if Iran advances in its nuclear program. Rumors were that Pakistan was obliged to provide the Saudis a ready-for-use nuclear weapon if and when the time comes. Things only got more complicated once the nuclear agreement (JCPOA) with Iran was signed in 2015, practically legitimizing Iran’s rights to maintain and develop its uranium enrichment capabilities. At the beginning of November 2018, the crown prince participated in the opening ceremony marking the launch of construction of Riyadh’s first research reactor . It’s still early days and only a symbolic act—the Saudis lack knowhow, technicians, infrastructure and academic expertise—but the country has both enough ambition and funds to advance anyway. Shortly after that the Saudi energy minister said the kingdom launches uranium exploration program.

Over the last decade, purchasing sixteen nuclear power reactors—later scaled back to two reactors—plus uranium enrichment capabilities preferably from the United States, has

featured prominently on the Saudi agenda. The official rationale is the country’s future needs to supply energy —with self-sufficient nuclear materials. While having enrichment capabilities can serve to counterbalance Iran, it may also constitute a future military nuclear program. During previous negotiations with Saudi officials, the Obama administration insisted that Saudi Arabia must comply with the “ gold standard ,” reflective of the conditions imposed on the UAE when it agreed to buy U.S. reactors in 2009. This standard requires a commitment not to enrich uranium or to produce plutonium as a strict condition for any agreement to sell nuclear reactors. According to current Secretary of State Mike Pompeo, the Trump administration has maintained this policy . In an interview with CBS in March 2018, MbS maintained that “without a doubt, if Iran developed a nuclear bomb, we would follow suit as soon as possible.”

Following the murder of Khashoggi, Senate members urged the Trump administration to curb any intention to sell nuclear reactors to the Saudi regime. This move is certainly necessary, but not nearly enough. An American refusal to his demands can push the prince to seek an alternative option elsewhere, with producers that will be all too happy to assist—for the right price.

Much of MbS’s current conduct lies parallel to previous experience with three other Middle East tyrants: former Iraqi president Saddam Hussein, Libya’s leader Muammar el-Qaddafi, and Syrian president Bashar al-Assad. These cynical dictators have a common denominator in their infinite ambitions, which ultimately led them to secretly promote a nuclear weapons program. They all relied heavily on their security systems in initiating these plans. Libya and Syria had no sufficient nuclear infrastructure, so they bought a turnkey nuclear project from Pakistan’s A.Q. Khan Network, and in the Syrian case from North Korea .

The Saudi nuclear issue has placed a challenge before the administration. If the prince is successful in surviving the current crisis, then that could prompt him to make even riskier decisions, including taking the nuclear path. Much like in Iraq, Libya and Syria, all the necessary components for that are now in place: A de facto dictator with delusions of grandeur and poor judgment, full control over the security services, unlimited funds for the purpose, a national sense of isolation, an acute threat, and a long-term nuclear vision. As Iran seems to be complying with the JCPOA, a Saudi move could instigate a nuclear arms race in the Middle East. To avoid this, the Trump administration should warn and restrict the Saudi heir. It should also keep a very close eye on Saudi Arabia’s nuclear connections and activities.

Ronen Dangoor is the former deputy head of the research and analysis division at the Israeli prime minister’s office.

 

November 29, 2018 Posted by | politics, Saudi Arabia, weapons and war | 1 Comment

France: 14 nuclear reactors to be closed by 2035, all coal-fired plants by 2022

France to close 14 nuclear reactors by 2035 an all coal-fired power plants by 2022, The Local   28 Nov 18 President Emmanuel Macron said on Tuesday that France would shut down 14 of the country’s 58 nuclear reactors currently in operation by 2035, of which between four and six will be closed by 2030.

The total includes the previously announced shutdown of France’s two oldest reactors in Fessenheim, eastern France, which Macron said was now set for summer 2020.

He also announced that France would close its remaining four coal-fired power plants by 2022 as part of the country’s anti-pollution efforts……

Macron said France would aim to triple its wind power electricity output by 2030, and increase solar energy output fivefold in that period.

He added that he would ask French electricity giant EDF to study the feasibility of more next-generation EPR nuclear reactors, but will wait until
2021 before deciding whether to proceed with construction.

EDF has been building the first EPR reactor at Flamanville along the Atlantic coast of northwest France — originally set to go online in 2012 — but the project has been plagued by technical problems and budget overruns. https://www.thelocal.fr/20181127/france-to-close-14-nuclear-reactors-by-2035

November 29, 2018 Posted by | France, politics | Leave a comment

Vietnam government abandons costly nuclear power plans

Reuters 22nd Nov 2018 , Vietnam’s National Assembly voted on Tuesday to abandon plans to build
two multi-billion-dollar nuclear power plants with Russia and Japan, after
officials cited lower demand forecasts, rising costs and safety concerns.

The estimated investment needed for the projects had doubled since 2009 to
nearly 400 trillion dong ($18 billion), state media Tien Phong quoted Le
Hong Tinh, vice chairman of the National Assembly’s science, technology
and environment commission, as saying earlier this month.
https://www.reuters.com/article/us-vietnam-politics-nuclearpower-idUSKBN13H0VO

November 25, 2018 Posted by | politics, Vietnam | Leave a comment

Taiwan still on track to become nuclear-free, despite pro-nuclear referendum

Anti-nuclear group undeterred by passing of pro-nuclear referendum  http://m.focustaiwan.tw/news/aipl/201811250029.aspx  By Wu Hsin-yun, Ku Chuan and Evelyn Kao Taipei, Nov. 25 (CNA) Taiwanese on Saturday voted against the government’s policy of phasing-out nuclear power by 2025, prompting an environmental group opposed to nuclear power to reaffirm its support for the phasing out of all nuclear power plants.

The anti-nuclear group National Nuclear Abolition Action Platform said in a statement issued Sunday that it is wrong to return to nuclear power and promised to continue to campaign for an end to the use of nuclear power in Taiwan.

The statement came after Taiwanese voted in 10 referendums alongside Saturday’s local government elections, including one that asked: “Do you agree with abolishing the first paragraph of Article 95 of the Electricity Act, which means abolishing the provision that ‘all nuclear-energy-based power-generating facilities shall cease to operate by 2025’?”

As a result, 5,895,560 votes were cast in favor of repealing the nuclear phase-out, and 4,014,215 against the initiative, according to the Central Election Commission.

For a referendum to pass, the number of voters in favor of a proposition must exceed the number who vote against it, and reach a minimum of 4,939,267 votes, or one quarter of the 19,757,067 voters eligible to cast votes in the referendums.

Commenting on the referendum result, the anti-nuclear group said that not all those who voted in favor of stopping the nuclear phase-out are unconditional supporters of nuclear power, but rather some lack confidence in Taiwan’s energy transformation.

The result does not mean those who voted in favor of repealing the nuclear phase-out do not support the government’s nuclear-free, carbon reduction and renewable energy policy, the group said.

Currently, the decommissioning of the No. 1 and No. 2 nuclear power plants in New Taipei is underway and cannot be reversed according to the law, the group said.

The result of the referendum is most likely to impact the No. 3 nuclear plant in Pingtung and possibly postpone its decommissioning, it added.

However, as the No. 3 nuclear plant is near the active Hengchun fault line, the group said the geological environment is not suitable for extending the operational life of the nuclear plant to be or installing new units at the plant.

Taiwan can not withstand a nuclear disaster and the passage of the referendum does nothing to guarantee safety, the group noted.

The group stressed Taiwan is on the path to a nuclear-free homeland and carbon reduction and should not return to nuclear power and coal-fired plants.

Under the Referendum Act, a law repealed in a referendum has to be rescinded three days after the result is officially announced by the Central Election Commission, Cabinet spokeswoman Kolas Yotaka said Sunday.

This means the first paragraph of Article 95 of the Electricity Act will be removed.

However, “the government’s goal of making Taiwan a nuclear-free homeland by 2025 remains unchanged,” Kolas said, adding that in practice it may not be possible to postpone the phase-out of the No. 1, No. 2 and No. 3 nuclear plants.

According to the law, applications for postponement are required to be submitted 5-10 years before the scheduled retirement dates of nuclear plants, Kolas said, adding that any such applications cannot be made within the statutory time period.

As to whether the currently-mothballed No. 4 nuclear power plant will start commercial operations, Kolas said it is estimated any such reversal would take 6-7 years and cost NT$68.8 billion (US$2.22 billion).

Even if the nuclear plant is activated in 2019, it would not be ready to begin commercial operations in 2025, when the government’s goal of a nuclear-free homeland will be achieved, at which point Taiwan will have no need for nuclear power, she noted.

November 25, 2018 Posted by | politics, Taiwan | Leave a comment

USA’s Trump administration tries to deny its own serious government report on climate change

Climate report: Trump administration downplays warnings of looming disaster
Democrats ramp up pressure to act in wake of most sobering government analysis yet,
Guardian, Oliver Milman @olliemilman Sun 25 Nov 2018

Report: climate change ‘will inflict substantial damages’ The Trump administration attempted to downplay the stark findings of its own climate change assessment, as Democrats sought to pressure the White House to avert looming economic and public health disaster.

The US National Climate change assessment, the work of 300 scientists and 13 federal agencies, was released on Friday afternoon. It found that wildfires, storms and heatwaves are already taking a major toll on Americans’ wellbeing, with climate change set to “disrupt many areas of life” in the future.

The voluminous report, which warns of hundreds of billions of dollars lost, crop failures, expanding wildfires, altered coastlines and multiplying health problems, represents the most comprehensive and sobering analysis yet of the dangers posed to the US by rising temperatures……….

A White House spokeswoman, however, said the assessment was “largely based on the most extreme scenario, which contradicts long-established trends by assuming that, despite strong economic growth that would increase greenhouse gas emissions, there would be limited technology and innovation, and a rapidly expanding population”.

The spokeswoman added the next report, due in four years’ time, will “provide for a more transparent and data-driven process”.

Katharine Hayhoe, a climate scientist at Texas Tech University and a report co-author, said the White House’s statement was “demonstrably false”.

She added on Twitter: “I wrote the climate scenarios chapter myself so I can confirm it considers ALL scenarios, from those where we go carbon negative before end of century to those where carbon emissions continue to rise.”

The climate assessment galvanized Democrats, who will control the House of Representatives next year.

“The days of denial and inaction in the House are over,” said Frank Pallone, a New Jersey congressman set to chair the energy and commerce committee. “House Democrats plan to aggressively address climate change and hold the administration accountable for its backward policies that only make it worse.”

Alexandria Ocasio-Cortez, a newly elected representative from New York City who has become a standard-bearer for the left, tweeted: “People are going to die if we don’t start addressing climate change ASAP. It’s not enough to think it’s ‘important’. We must make it urgent.”

Authors of the report, which is mandated by Congress, echoed the sense of urgency and lamented the timing of its release on the day after Thanksgiving, which is usually the busiest shopping day of the year.

“This report makes it clear that climate change is not some problem in the distant future – it’s happening right now in every part of the country,” said Brenda Ekwurzel, a co-author and director of climate science at the Union of Concerned Scientists, in a statement.

“When people say the wildfires, hurricanes and heatwaves they’re experiencing are unlike anything they’ve seen before, there’s a reason for that and it’s called climate change.”……..

The president took a trip last week to see the aftermath of California’s deadliest ever wildfires, a phenomenon experts say is worsened by warming temperatures. During a visit to the town of Paradise, which was wiped out by the so-called Camp fire, Trump said he wanted “a great climate”. But he has largely blamed forest management for the blaze.

He has repeatedly disparaged or dismissed climate science in the past…….https://www.theguardian.com/environment/2018/nov/24/climate-change-report-trump-administration-democrats-reaction

November 25, 2018 Posted by | climate change, politics, USA | Leave a comment

Sellafield – a nuclear misuse of public funds – and Hinkley Point C will be the next

November 24, 2018 Posted by | business and costs, politics, UK | Leave a comment

Bulgaria’s Belene Nuclear Power Plant project unlikely to ever be built, now needs EU approval

Belene nuclear power plant will need new EU approval, Emerging Europe, November 23, 2018, Yoan Stanev 

The European Commissioner for Climate Action and Energy, Miguel Arias Cañete, has said that the commission’s approval for the Belene Nuclear Power Plant project – given more than a decade ago – is no longer valid. As such, Belene must be treated as a new project and must undergo a new assessment by the commission. Mr Cañete was responding to a question raised by a Bulgarian member of the European Parliament, Svetoslav Malinov, of Democrats for a Strong Bulgaria, part of the European People’s Party……..

“In practice, any new investors will have to agree to a project that is not currently approved by the European Commission and will still have to be assessed according to [now more] stringent European criteria after Fukushima,” said Mr Malinov, who added: “no investor will agree to this.”

“Belene nuclear power plant will never be built, but it still offers the opportunity to steal money from Bulgarian taxpayers. Belene is dead. Why does GERB [Bulgaria’s ruling party] refuse to bury it?” said Mr Malinov.

The Bulgarian government has not yet responded to the commission’s statement and the energy ministry is still looking for strategic investors for the project and plans to make an announcement by the end of 2018. https://emerging-europe.com/news/belene-nuclear-power-plant-will-need-new-eu-approval/

November 24, 2018 Posted by | Bulgaria, politics | Leave a comment

Czechs consider nuclear power options: would require tax-payer funding

Prague weighs replacement options for nuclear plants, Ft.com, 23 Nov 18 

The Czech decision is being watched by neighbours considering investments in reactors  “……..

The reactors, which are owned by CEZ, the state-controlled energy group, are due to expire in 2035. Given the long lead time for nuclear projects, government and company officials have spent the past year debating whether — and how — to finance their replacement. With another plant run by CEZ in Temelin, the Dukovany reactors accounted for about two-fifths of Czech energy needs last year, making how to deal with their expiry one of the most important, and potentially one of the most expensive, decisions facing Mr Babis’s government. Analysts estimate that building new reactors would cost at least 100bn Czech koruna (€3.8bn) each — or about a third of CEZ’s market capitalisation.

………,The deliberations in Prague mirror debates elsewhere in central Europe, where the Czech Republic is not alone in considering another bet on nuclear energy Poland has been debating whether to build a nuclear plant of its own, while Vladimir Putin, Russian president, said in September that the Russian state-owned nuclear group Rosatom would soon start construction on two new reactors in Hungary.

Given the huge costs of building new reactors, CEZ’s leadership has been reluctant to embark on such a project without state guarantees, while minority shareholders are opposed to the idea of CEZ building new nuclear plants on its own, as they fear it will hit their dividend payments. ……https://www.ft.com/content/26cced6c-c8be-11e8-86e6-19f5b7134d1c

November 24, 2018 Posted by | EUROPE, politics | Leave a comment

USA’s endless cycle of weapons spending is set to get more extreme

Trump’s Defense Spending Is Out of Control, and Poised to Get Worse https://www.rollingstone.com/politics/politics-features/trump-defense-spending-757028/  15 Nov 18, 

Using a time-honored trick, a bipartisan congressional panel argues we should boost the president’s record defense bill even more

November 22, 2018 Posted by | politics, secrets,lies and civil liberties, USA, weapons and war | 1 Comment

Donald Trump’s climate denialism – in the face of California’s climate tragedies

Climate Change Denial Is Raking the Ashes of Paradise ,   William Rivers Pitt, Truthout, November 20, 2018″………….The Camp and Woolsey fires are two of the 10 worst fires in California history, and have so far caused an estimated $19 billion in damages. Eight of the worst California wildfires on record have happened in the last two years. These disasters are increasing in number and severity due to a collection of factors — 100 years of forest policies aimed at stopping fires entirely rather than controlling them, corporate malfeasance on the part of companies like PG&E, unsafe construction zoning and poor water management, to name but a few — but accelerating human-caused climate change looms above them all.

“The ongoing California drought is the driest period in the state’s history since before Charlemagne ruled the Holy Roman Empire,” reportedScience News in 2014. In 2015, Gov. Jerry Brown declared California to be in a drought state of emergency. “Drought and dry soil conditions widened to 100 percent of flame-whipped California from 26 percent a year earlier,” Bloomberg News reported this weekend. According to the National Integrated Drought Information System, some 23,824,000 California residents currently live in drought conditions.

“Climate change is drying the state,” states the California Chaparral Institute in a Facebook post. “Dryer conditions lead to a more flammable landscape. We may see more of the kind of winds that powered the Camp Fire into Paradise. More fires will dramatically alter the kinds of habitats we are used to seeing. Non-native weed-filled landscapes that dominate places like Riverside County will likely become more common.”

The ocean is coming. The fires are here. The inexorable violence of climate change has arrived, and the president of the United States still believes it’s a hoax. Because he does, efforts to mitigate the onrushing, inevitable damage are not begun, or are deliberately undone. There is no good time for someone like Donald Trump to be in charge of the country, but there can be no doubt that his ascendancy has come at the worst possible moment for the planet.

Two days after the Camp Fire began, when the full scope of the calamity was becoming evident, Trump took to Twitter to weigh in with his thoughts on the matter. “There is no reason for these massive, deadly and costly forest fires in California except that forest management is so poor,” he wrote at 2:08 am. “Billions of dollars are given each year, with so many lives lost, all because of gross mismanagement of the forests. Remedy now, or no more Fed payments!”……….

At the end of the Paradise press conference, Trump was asked point-blank if he believed climate change had a hand in the deadly fires. “No,” he replied bluntly. “I have a strong opinion,” he continued. “I want great climate. We’re going to have that, and we’re going to have forests that are very safe. That’s happening as we speak.”

And that, as they say, is that…….https://truthout.org/articles/climate-change-denial-is-raking-the-ashes-of-paradise/

November 22, 2018 Posted by | climate change, politics, USA | 1 Comment

France could shut down up to six nuclear reactors by 2028

France could shut down nuclear plants in energy plan due next week https://www.reuters.com/article/us-france-nuclearpower/france-could-shut-down-nuclear-plants-in-energy-plan-due-next-week-idUSKCN1NQ17V, PARIS (Reuters) 21 Nov 18 – France could shut down up to six nuclear reactors by 2028 among other options, French media reported, as part of its medium-term energy policy to be presented next week.

“I can confirm that there are three scenarios on the table that we are looking at, we are making final adjustments and all will be presented next week,” French Environment Minister Francois de Rugy told France Inter radio, without specifying a date.

The so-called PPE energy plan will lay out France’s energy goals over the next 10 years with the aim of reducing the share of nuclear power in its energy mix to 50 percent from 75 percent by 2035, curb carbon emissions and boost renewables.

French news agency AFP reported on Tuesday, citing government working documents, that the government could shut down up to six nuclear reactors by 2028, including the planned closure of France’s oldest Fessenheim nuclear plant which is scheduled to stop production in 2021, according to one scenario.

It said another six reactors could close by 2035, which could set France on the path to curb nuclear generation by 50 percent.

The second intermediate scenario does not foresee any additional closures beside Fessenheim until 2028, and then 12 reactors would be shutdown between 2028 and 2035, AFP quoted the document saying.

The final option would also see no additional closures until 2028 after which, only nine reactors would be halted by 2035, which could miss the 50 percent nuclear target.

Jefferies analysts, who have a “buy” rating on the shares of state-controlled utility EDF, said in a research note that two out of the three options seem to favor EDF, which operates all of France’s 58 nuclear reactors.

Even the accelerated nuclear phase-out option appears to offer some protection, via compensation, wrote Jefferies.

Reporting by Bate Felix and Mathieu Rosemain

November 22, 2018 Posted by | France, politics | Leave a comment

Moorside project collapses, but UK’s Conservative government is Socialist when it comes to nuclear power projects

Another Nuclear Megaproject Bites The Dust, Oil Price, 

Toshiba’s announcement follows word of a breakdown in negotiations with prospective buyer, Korea Electric Power (KEPCo). It appears the Koreans, like others, are rethinking their commitment to nuclear energy worldwide.

Absent the cancellation decision, Toshiba is likely to have had trouble financing a project of this magnitude especially given the stress on its finances from its troubled venture into American nuclear construction. The Moorside project in Cumbria will have cost Toshiba over £400 million and management announced it was taking a write off of £125 million. Toshiba described its decision as “economically rational.” Amen to that.

A government spokesperson commented, “All proposed nuclear projects in the UK are led by private sector developers and … this is entirely a commercial decision for Toshiba.” This is an interesting statement. The only UK nuclear construction project currently underway is owned by French and Chinese state controlled entities, financed  with liberal debt guarantees provided by the UK government.

But let’s review the UK’s nuclear energy plans. There were at a minimum three large facilities planned. One for Cumbria, the Toshiba NuGen entity, is now cancelled. The Hinkley Point C units, being built by a French and Chinese consortium, are under construction and slated for commercial service in 2025-27. Lastly, Hitachi had a planned nuclear site in Wylfa.

Given the turmoil surrounding new nuclear construction, we have our doubts about the financial viability of Wylfa. This plant would cost at least 20 billion pounds ($26 billion). Press reports indicate government support would be necessary for close to two thirds of that amount. To further encourage developers, a government minister said in June that the government might directly invest 5 billion pounds into the project for a one third ownership share.

A little over three decades ago, Prime Minister Margaret Thatcher wanted her government to end state ownership of power producers. And she privatized the UK’s electricity industry. Her successors, who still call themselves Conservatives, seem to have reversed course. https://oilprice.com/Alternative-Energy/Nuclear-Power/Another-Nuclear-Megaproject-Bites-The-Dust.html

November 19, 2018 Posted by | politics, UK | Leave a comment