Engie not willing to acquire troubled nuclear company AREVA

Engie will not acquire struggling French nuclear group Areva, Ft.com 21 May 15 Michael Stothard in Paris Engie would consider working with struggling French nuclear group Areva on some business lines but is not looking for any full-blown acquisitions to help rescue the company, according to the chief executive of the utility.
“If we consider something, it would be in co-operation with Areva, not simply an acquisition of some assets,” Gérard Mestrallet told the Financial Times on the sidelines of a business and climate change conference in Paris
The comments come as the French government looks to elicit the aid of French companies to help rescue Areva, which reported a €4.8bn loss last year.
Areva, which is 87 per cent government-owned, has fallen victim to a slump in global demand for new reactors that followed the 2011 Fukushima disaster in Japan, as well as crippling cost overruns at key projects…….
Any deal between Areva and Engie would be likely to come alongside a much larger agreement with EDF, which earlier this week outlined its preference for a broad rescue package to acquire Areva NP, the division that designs, manufactures and maintains nuclear reactors.
“The more ambitious proposal from EDF will preserve the technical expertise of Areva’s reactor business and create the possibility of partnerships with outside groups from France or elsewhere,” said Jean-Bernard Lévy, EDF’s chief executive.
The more ambitious proposal from EDF will preserve the technical expertise of Areva’s reactor business and create the possibility of partnerships with outside groups from France or elsewhere– Jean-Bernard Lévy, EDF’s chief executive
Another option on the table would see EDF, which is 85 per cent state-owned, simply recruit 1,200 Areva engineers who specialise in nuclear safety. This would require a greater injection of capital in the group from the government, however.
It is ultimately up to Paris to decide between these two options. A decision could come as early as June ……….3.http://www.ft.com/intl/cms/s/0/3d592a50-ffb8-11e4-8c46-00144feabdc0.html#axzz3aoqg2DDh
Finland pulls out of building Olkiluoto 4 nuclear reactor
Finland cancels
– is the EPR finished?, The Ecologist, Dr Jim Green & Oliver Tickell 15 May 15
This week Finland cancelled its option for a second European Pressurised Reactor as the existing EPR project sinks into a abyss of cost over-runs, delays and litigation, writes Jim Green. It now looks like the EPR is a failed technology and its owner, French nuclear giant Areva, is fast running out of both money and orders as its ‘hot prospects’ evaporate.
There’s been plenty of bad news recently for the European Pressurised Reactor (EPR) nuclear power station design.
And now there’s more. The Finnish electricity company TVO announced this week that it had cancelled plans to build a second EPR at Olkiluoto in western Finland because of delays and problems with the first EPR on the site currently being built by Areva and Siemens.
That plant, Olkiluoto 3, is running severely over time and budget. Construction began in 2005 and it is not expected to commence operating until 2018, nine years late.
The estimated cost has risen from €3.2 billion (US$3.6b) to €8.5 billion (US$9.5b). Areva has already made provision for a €2.7 billion (US$3.0b) writedown on the project, with further losses expected. FTVO and Areva / Siemens are locked ina €10 billion legal battleover the cost overruns.
Finland’s government had given TVO a deadline of 30th June to request a building permit for its planned Olkiluoto 4 plant. TVO said it would not pursue the project due to “the delay of the start-up of Olkiluoto 3 plant unit.”
It added: “In this situation it is impossible to make significant Olkiluoto 4 related decisions necessary for the construction license application.” Continue reading
Hearings to be held on demand of industry for Income-guarantee for Davis-Besse nuclear plant
Income-guarantee request envelops Davis-Besse nuclear plant in controversy again, By Dan GearinoThe Columbus Dispatch • Tuesday May 19, 2015 In a debate over an alleged “coal bailout” for power plants, Davis-Besse Nuclear Power Station doesn’t quite fit.
And yet, it is among the seven Ohio plants — and the only one that doesn’t run on coal — whose owners are seeking income guarantees from state regulators.
This is the latest in a lifetime of controversy for the FirstEnergy-owned plant, which produced its first electricity in 1977.
“The nuclear industry cannot operate with profit in the marketplace, so they’re looking for these different schemes,” said Allison Fisher, outreach director on energy issues for Public Citizen, a nonprofit consumer advocate. “They’re trying to find a way to shift the risk from the company to the consumer.”
Hearings will begin next month for FirstEnergy’s request for an income guarantee, a case before the Public Utilities Commission of Ohio that already has thousands of pages of testimony and dozens of participants.
The PUCO has ruled on similar proposals from American Electric Power and Duke Energy, rejecting the plans but saying that their underlying concept was legal; both decisions are being appealed. AEP also has a separate proposal that is still pending……….
Under the proposal, the plants would have a guarantee of enough income to cover costs plus a profit. If the actual income is less than a specified level, then consumers would pay the difference through a charge on their bills……..http://www.dispatch.com/content/stories/business/2015/05/19/debate-returns.html
India seeking foreign funds in effort to get up nuclear insurance pool
Nuclear insurance pool: Foreign firms interested to pitch in, says GIC, Economic Times 17 May 15NEW DELHI: With the Indian nuclear insurance pool falling short by Rs 600 crore towards becoming operational, some foreign companies have shown an interest in being a part of the initiative.
“We are also pursuing private sector companies… Six companies came with Rs 150 crore. Now, it has become 900 crore. We are putting all our efforts into raising the remaining Rs 600 crore for operationalising the pool,” said Y Ramulu, GM of General Insurance Corporation (GIC) of India.
Clauses in the Act which give the operator the Right to Recourse and allow it to sue the suppliers in case of any accident were seen as being a major hindrance to the growth of the nuclear industry. These concerns led to to the formation of the Indian nuclear insurance pool. ……
The government was also initially toying with the idea of a catastrophe bond, but Ramulu said that may not take off anytime soon. ……
“We are also hoping for government support in this case,” Ramulu said.
Sources said the government may throw in sovereign guarantee to address the concerns of foreign suppliers over the nuclear liability law.
Obama has given in to corporate lobby on the Trans Pacific Partnership
Scarier still is the part of the TPP that will give corporations the right to sue governments for lost profits. The proceedings will be conducted before secret corporate tribunals.
Foreshadowing nasty corporate suits are what is happening now in Australia, Egypt, and Germany.
Philip Morris, an American tobacco company, is suing Australia for prohibiting the sale of cigarettes to underaged smokers in that country.
Why Obama Is Making the Mistake of Pushing the TPP (Trans-Pacific Partnership)
Michael E. Drake Democratic Perspectives on the corporate take-
over of America, 15 May 15
He has convinced himself that American labor cannot compete with labor forces in the rest of the world, particularly in Asia. He said, “That ship has already sailed.” Obama has given up. He has given in to corporate interests who want things both ways for the sake of short term profit. Corporations, who recognize no international boundaries, insist on producing goods for the lowest possible cost in labor. That means, first of all, outsourcing and building factories in other countries. Secondly, they insist on this country importing those goods for sale here in the United States with no tariffs.
What has this way of doing business cost us already? Start with 60,000 factories in this country since the year 2000. Also disappearing is the millions of manufacturing jobs that went along with these factories. Then comes the gigantic trade deficit that we as a country has been running for decades. Lately, the trade deficit (the difference between what we sell to other countries and what other countries sell us) has been running around 50 billion dollars a month. Our wealth is flying out the door at an incredible rate, and we, suckers that we are, are left holding the bag. Congressman Alan Grayson of Florida has helped produce a short film which explains it all. I urge you to take a look at it…….
Now, in addition to the economic loss that has already occurred, our president is asking us to give away even more. He wants us to do it on a fast track in Congress, which means no real debate, no amendments, no changes whatsoever to an agreement negotiated by corporate executives and corporate lobbyists. Continue reading
Trans Pacific Partnership Versus The Environment
Here’s why. Continue reading
USA’s House of representatives passes bill for Congress to review Iran nuclear deal
House passes bill for Congress to review Iran nuclear deal Seattle Times, May 14, 2015 By DEB RIECHMANNT The Associated Press WASHINGTON (AP) — Congress on Thursday sent President Barack Obama a bill to give lawmakers the power to review and potentially reject a nuclear deal with Iran.
The House overwhelmingly passed the measure, 400-25, a reflection of lawmakers’ insistence on having a say in what could be a significant international accord to get Iran to curb its nuclear program in exchange for relief from economic sanctions.Getting a deal would enhance Obama’s foreign policy record, and while the GOP-led Congress doesn’t want to see a nuclear-armed Iran, they are skeptical about Iranian compliance and have demanded time to review the fine points of any agreement the White House reaches with Tehran.
Presidential spokesman Josh Earnest said again Thursday that Obama would sign the bill into law.Negotiators from the U.S. and five other nations are rushing to reach a deal with Tehran by the end of June. As the House voted, Obama met at the Camp David presidential retreat in Maryland with Arab leaders in hopes of convincing them that U.S. overtures to Iran would not come at the expense of commitments to their security in the region.
The Iran nuclear legislation would bar Obama from waiving congressional sanctions for at least 30 days while lawmakers examine any final deal. The bill would stipulate that if senators disapprove of the deal, Obama would lose his current power to waive certain economic penalties Congress has imposed on Iran.The bill, which was passed last week by the Senate on a 98-1 vote, would require Congress to pass a resolution of disapproval to reject the deal, an action that Obama almost certainly would veto. Congress then would have to muster votes from two-thirds of each chamber to override the veto.
Even if Congress rejects his final nuclear deal with Tehran, however, Obama could use his executive pen to offer a hefty portion of sanctions relief on his own. He could take unilateral actions that — when coupled with European and U.N. sanctions relief — would allow a deal to be implemented………..http://www.seattletimes.com/nation-world/house-passes-bill-for-congress-to-review-iran-nuclear-deal/
AREVA’s nuclear options narrow in attempt to save thecompany
Indebted French nuclear company Areva sacks workers, negotiates with Paris, Financial Review, 10 May 15 French nuclear group’s options narrow; Talks with EDF and state over costs of shake-up by Michael Stothard
French nuclear group Areva is to cut 6,000 jobs over three years – 14 per cent of its global workforce – as options for a government-backed rescue package begin to narrow.
Areva, which reported a €4.8bn loss last year, said it was also lowering wages for surviving staff in an attempt to deliver the bulk of a €1bn cost reduction target.
However, the state-controlled group, which has seen its equity capital fall to nearly zero after four years of losses, is continuing to negotiate a more radical restructuring plan with EDF and the French government.
People close to the discussions said that these talks now focus on just two remaining options, and a final decision will be made in the coming months.
This deal, which could be valued at as much as €3bn, would result in the break-up of Areva, a company once regarded as one of the crown jewels of France’s nuclear industry. But, at the same time, it would limit the amount of cash the state has to contribute to Areva in a capital raising, which is expected to accompany such a deal.
Under a second, simpler, option – which people close to the talks say is preferred by the managements of Areva and EDF – only the smaller engineering business of Areva would be sold to EDF.
This would keep Areva relatively intact. But with EDF paying only between €300m and €1bn, it would necessitate a much bigger capital contribution from the cash-strapped French government to Areva.
To help mitigate the cost to the state of any capital raising, Areva will consider approaching its existing Chinese partners, according to people familiar with the plans………http://www.afr.com/news/world/indebted-french-nuclear-company-areva-sacks-workers-negotiates-with-paris-20150510-ggy6b0
Canada’s Nuclear Regulator in reality a promoter of the industry
Council of Canadians chairperson Maude Barlow has said that “Stephen Harper is systematically wiping out decades of environmental protection and laws in order to promote unbridled resource extraction. No other government in the history of Canada has declared war on the environment in this way.”
See you at the ribbon cutting? Federal panel approves nuclear dump on Lake Huron OLE HENDRICKSON |http://rabble.ca/columnists/2015/05/see-you-ribbon-cutting-federal-panel-approves-nuclear-dump-on-lake-huron MAY 8, 2015
A federal environmental assessment panel has just released its report approving a proposal by Ontario Power Generation (OPG) to bury nuclear waste on the shores of Lake Huron in a “Deep Geological Repository” (DGR). The panel’s conclusions come as no surprise to informed observers: the impartiality of the environmental assessment process had been in question for months.
The Canadian Nuclear Safety Commission (CNSC) has never been known as a friend of the environment. But when the Harper Conservatives won a majority government in 2008 they made sweeping changes to Canada’s environmental laws. One change was to remove responsibility for environmental assessment of nuclear projects from the Canadian Environmental Assessment Agency, and put the CNSC in charge.
Instead of conducting an objective assessment of OPG’s nuclear waste burial scheme, the CNSC acted as a strong proponent.
According to a September 2013 article in the Globe and Mail, CNSC and OPG jointly held “illegal and secret meetings” with local municipal officials. At one of those meetings, CNSC President Michael Binder said he hoped their next meeting “would be at a ribbon-cutting ceremony” for the DGR.
While the CNSC sucks up hundreds of millions of taxpayer dollars, its pretense of acting as an independent nuclear regulator is becoming less and less credible. In support of the license renewal request of SRB Technologies (Canada) Inc. (SRBT), a tritium light factory in Pembroke, Ontario, the CNSC recently posted the absurd claim on its website that measured environmental radioactivity is “within natural background levels” — even as the CNSC’s own scientists publish journal articles documenting widespread radioactive contamination in the Pembroke environment resulting from SRBT’s operations.
Although Article 9 of the Nuclear Safety and Control Act requires the CNSC “to disseminate objective scientific, technical and regulatory information to the public,” the CNSC is failing. Political interference in the Commission’s activities became a matter of routine when the Harper government fired CNSC President Linda Keen for trying to hold Atomic Energy of Canada Ltd. to account for failing to perform safety upgrades on the NRU reactor at the Chalk River Laboratories. In February the Harper government totally bypassed the normal regulatory process when it quietly ordered this same 57-year-old reactor to continue to run for two years past its scheduled 2016 shutdown — and seven years past its originally planned shutdown in 2011.
In the absence of a strong and independent nuclear regulator, protection of the public from the health and environmental risks of nuclear energy falls to active and informed members of the public who are willing to engage in the political process. This applies as well to risks associated with rail and pipeline shipments of oil, contaminated products from meat-packing plants, and use of toxic pesticides, to name only a few.
Aging nuclear reactors mean increased risks of a nuclear disaster. The need for an effective nuclear regulatory agency has never been greater. Do Canadians really want to run the risk of a nuclear meltdown, or permanent contamination of the Great Lakes? With a weak regulator that makes decisions based on crass economic and political considerations, these are the risks we are running.
Council of Canadians chairperson Maude Barlow has said that “Stephen Harper is systematically wiping out decades of environmental protection and laws in order to promote unbridled resource extraction. No other government in the history of Canada has declared war on the environment in this way.”
The recent DGR panel report is a virtual declaration of war on the Great Lakes. Dozens of Interveners at the panel hearings presented evidence of leaks and accidents at other facilities that have attempted to bury nuclear wastes. It is hard to imagine that any government would be so foolish as to put a permanent nuclear dump right next to the world’s largest inland water ecosystem.
In the unlikely event that this hare-brained scheme goes ahead, the CNSC’s Dr. Binder might find himself jointed by a large crowd of angry people at the ribbon-cutting ceremony.
Ole Hendrickson is a forest ecologist and current president of the Ottawa River Institute, a non-profit charitable organization based in the Ottawa Valley.
AREVA’s woes heralding a slippery global slope for the nuclear industry?

But in the last few years, the French dynamo has started to stall. New plants that were meant to showcase the industry’s most advanced technology are years behind schedule and billions of euros over budget. Worse, recently discovered problems at one site have raised new doubts about when, or even if, they will be completed……..
Alarmed by the French industry’s problems, the Socialist government of President François Hollande is expected soon to announce an industry overhaul. As the majority owner of the country’s two main nuclear companies — the reactor maker Areva and the big utility operator Électricité de France — the government will aim not only to put the companies on a firmer financial footing but to reorganize them in hopes of restoring the French industry’s role-model luster.
On Thursday, Areva took the first of those steps by announcing big cost-cutting plans. The move is likely to trim as many as 6,000 jobs from the company’s global work force of 45,000 — as many of 4,000 of those coming in France……….
With the French companies struggling, some nuclear experts see a slippery geopolitical slope. Continue reading
US Senate passes Bill to give Congress a stake in nuclear deal with Iran
S
enate Passes Bill to Review Iran Nuclear Deal Maya Rhodan @m_rhodan TIME, 7 May 15 Bill to give Congress oversight of the nuclear plan passes Senate
Republicans and some Democrats in Congress have been pushing for oversight of the pending deal given that current proposals include relief from some of the sanctions placed on Iran by Congress. The bill that passed Thursday requires that Congress be able to review and possibly reject any deal the U.S. and world powers make with Iran regarding nuclear weapons. If Congress approves of the deal — or fails to disapprove within a certain timeframe — the President’s deal can move forward……
While the debate continues, however, some lawmakers have signaled their support for the President’s negotiations with Iran. In a letter first reported on by the Washington Post, 150 Democrats urged Obama to “stay on course” and commended the work of world powers so far in the process.
“The stakes are too great and the alternatives are too dire,” the letter reads. “If the United States were to abandon negotiations or cause their collapse, not only would we fail to peacefully prevent the nuclear-armed Iran, we would make that outcome more likely.”
The Washington Post reports that the letter could mean the President has enough Congressional support to override a veto should lawmakers vote to reject the deal once it is released in June. http://time.com/3850806/congress-iran-nuclear-deal/
Lake Huron is NOT the answer to Canada’s nuclear waste problem- Dr. Benishek
Dr. Benishek: Canada’s plan to store nuclear waste near Great Lakes unacceptable http://www.upnorthlive.com/news/story.aspx?id=1201537#.VUvfhY6qpHw 05.07.2015WASHINGTON D.C. –– More than seven million cubic feet of nuclear waste could be stored in less than a half of mile from Lake Huron.
A joint Review Panel in the Canadian government gave favorable recommendation Thursday on a proposal to place a permanent, underground, nuclear waste storage facility.
“The recommendation by the Canadian Joint Review Panel to approve a plan to bury waste from nuclear power plants less than a mile from Lake Huron is unacceptable,” said Dr. Benishek. “While I support the need to find long term storage solutions for nuclear waste, burying waste this close to the Lake Huron is not the answer. The Great Lakes play a tremendous role in our economy and way of life here in Northern Michigan and we must remain stewards of this natural resource. I am please there is bipartisan support in the House that is opposed to Canada’s plan, and I will continue to work with my colleagues to ensure that there is not permanent storage of nuclear waste in the Great Lakes Basin.”
South Asia likely to have a non nuclear future
In spite of the enormous political clout of South Asia’s nuclear authorities and the hold they have in moulding public attitudes, in the long run the demise of nuclear fission power production globally is likely.
With abundant sun and wind, South Asia has only begun its travel towards renewables. Cheaper by the day, small decentralised solar and wind units offer the best option for urban and village households.
Why South Asia needs a non-nuclear future , Sci Dev Net, 7 May 15
- Nuclear energy’s share of global energy production dwindled to 10 per cent in 2013
- Pakistan plans to install two 1,100 megawatt reactors in Karachi, a city of 20 million
- Expansion of solar and wind energy can hasten the decline of nuclear energy
- Risky nuclear energy can be replaced by safer and cheaper options in South Asia, writes Pervez Hoodbhoy.Considered risky by increasing numbers of people, nuclear energy is now no longer the eagerly sought panacea to the world’s energy problems. From its all-time high of 17 per cent in 1995, its share of world production dwindled to 10 per cent in 2013. The Fukushima nuclear disaster, even more than Chernobyl, has left Japan and most western countries deeply worried and suspicious. Japan’s 48 reactors remain shut, about 120,000 people are homeless, and the three reactors that experienced core meltdowns are still in deep crisis. They will need another 30—40 years to fully decommission.Some developing countries are also losing their former enthusiasm. Post-Fukushima, Indonesia’s civil society insisted that the country’s nuclear electricity programme be scaled back. Its demands were largely met. So, why has it been difficult for public opinion to compel any Pakistani or Indian government to similarly change course?
Opaque programmes The reason is clear. Both countries used opaque civilian nuclear programmes to make nuclear weapons, which then became objects of national veneration and symbols of power. Shrouded in secrecy, nuclear establishments became a force in their own right. They were not subject to any significant scrutiny of safety aspects. Nor did they feel the need to reveal their plans for disaster management or prove their adequacy. While environmental impact mitigation schemes became legally necessary, these were not to be taken seriously. No attempts were made to educate populations near a reactor about radiation hazards. Continue reading
Trident nuclear submarines – the sticky issue in UK election

The nuclear dimension to UK election BBC 6 Mchray 15 Anthony Zurcher The British naval base in Faslane, Scotland, is home to four Vanguard submarines – and the source of a fierce debate that illustrates the sticky political issues presented by the rise of the Scottish National Party in this year’s general election……It’s become a common Conservative Party talking point in these last days of the campaign that the only way the Labour Party can return to power is by striking a deal with the SNP. Although it’s a charge Labour vehemently denies, the SNP will likely post major wins at Labour’s expense in Scotland’s 59 parliamentary seats. If that happens, one of the bargaining chips in any deal could become the Faslane submarines and their Trident nuclear missile systems.
SNP leader Nicola Sturgeon has called defunding the Trident programme a non-negotiable “blood red line” and, in a Scottish leaders debate in Edinburgh Sunday night, refused to rule out voting down a Labour budget that includes maintaining the missiles.
Complicating all this is the fact the nuclear missile programme is aging – and will require additional moneys to stay operational. Coming on the heels of steep austerity cuts imposed after the 2008 recession, the estimated investment of at least £17.5bn is proving a bitter pill for many to swallow.
Labour leader Ed Miliband has said he wants to keep the UK a nuclear power, but he hasn’t ruled out reducing the number of submarines.
And so the Conservatives have pounced on Mr Miliband, whom they charge with threatening to forsake the protection provided by a nuclear deterrent…….
All of this is just “stale Westminster politics” and the bickering of “grey men in grey suits”, says Chris Higgins.
Higgins has a particularly unique view of the nuclear issue, as the Faslane navy base and its submarines are his neighbours. Since September, he’s been a resident of the Faslane Peace Camp, a brightly coloured collection of caravans, trailers and hand-constructed shelters that has been a permanent fixture just down the road from the base for more than 33 years………
“No sensible UK government would develop a nuclear weapons capability now if one didn’t exist,” SNP’s Robertson said, sounding a lot like one of the Faslane peace activists. “Therefore, a strong group of SNP MPs in a hung parliament, working with other progressive political forces, can bring common sense to bear now – and halt Trident renewal in its tracks.”……http://www.bbc.com/news/32601921
Finland’s very misguided nuclear obsession
The Finnish politicians have apparently not learned anything from Hiroshima, Nagasaki, Chernobyl, and Fukushima.
OL4 appears, thankfully, to have been shelved for the time being. But OL3, one of the ten most expensive construction projects in the world and beset by delays and astronomical costs, could end up as the world’s biggest nuclear mausoleum.
The Fennovoima project, however is still going ahead. But an active citizens’ movement has come together to oppose it, and they may yet succeed.
Finland’s new government (not yet appointed at the time of writing) will have the decision in its hands, as they will have to decide about the construction permit application that Fennovoima is to submit in July this year.
Petition: ‘Stop the Nuclear power plant in Pyhäjoki built by Fennovoima!‘
Russian roulette? Finland’s inexplicable nuclear obsession, Ecologist Ulla Klötzer
1st May 2015 Does Finland suffer from a nuclear death wish? So it seems, writes Ulla Klötzer. Its government responded to the world’s two greatest nuclear disasters by … ordering a new nuclear plant. And as the Olkiluoto nuclear project descended into face and litigation over a disputed €5 billion, they resolved to build two more. This time, supplied by Russia’s nuclear weapon-maker Rosatom.
Finland was the first western country to decide to build a new nuclear power plant after the Chernobyl accident, as well as after the Fukushima catastrophe – despite of almost all opinion polls showing that a majority of Finns are critical to nuclear power.
The first project, decided upon in 2002, was at the existing Olkiluoto nuclear site – the OL3 European Pressurized Reactor (EPR), a ‘third generation’ pressurized water design.
This 1.6 GW reactor, which is currently being built by the French company Areva for the Finnish energy supplier TVO, will be the biggest reactor in the world.
The construction work started in 2005 and the reactor was to be connected to the grid in 2009. The fixed turnkey-price was €3.2 billion. According to Areva, EPR is “a reactor with an unparalleled level of security, extremely resistant to both internal and external risks.”
Today, the price has soared to about €9 billion and the reactor is estimated to be completed only in 2018. According to the Helsinki Timesin November 2013, the OL3 reactor may upon completion become the most expensive building in the world. Continue reading
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