nuclear-news

Giant Siemens company may be the first to dump nuclear projects

The second thoughts at Siemens show how swiftly the accident at the tsunami-stricken Fukushima Daiichi plant in Japan has upended the nuclear-energy revival that the company and its rivals had expected

Siemens Rethinks Nuclear Ambitions – WSJ.com* APRIL 15, 2011  By VANESSA FUHRMANS German engineering giant Siemens AG is considering whether to abandon its goal of becoming a major player in the atomic-power industry, according to people familiar with the matter, as Japan’s nuclear crisis continues to unfold. Continue reading →

April 15, 2011 Posted by Christina Macpherson | business and costs, Germany | Leave a comment

Siemens company gets out of nuclear project with AREVA

Siemens exits nuclear joint venture with Areva  The Times of India Apr 10, 2011, BERLIN: Germany’s Siemens AG says it has sold its stake in a joint venture to build nuclear power plants with Areva NP for €1.62 billion ($2.3 billion) to the French firm.

Spokesman Constantin Birnstiel said on Sunday that the company had sold its 34 per cent stake on March 18 to Areva SA which also owns the remaining 66 per cent. He added that court proceedings were ongoing and Siemens could not comment further….

April 11, 2011 Posted by Christina Macpherson | business and costs, Germany | Leave a comment

Germany’s peak utility organisation calls for swift end to nuclear power

The group called on the government to set everything in motion to speed up the transition toward a stable, ecologically responsible and affordable energy mix without nuclear energy.

Association of German utility companies calls for abolishing nuclear power by 2020, The Washington Post, 9 April 11,  BERLIN — Germany’s utility companies want “swift and complete” abolishment of nuclear power in the wake of the disaster at Japan’s Fukushima reactors, says their umbrella organization. The technology should be phased out by 2020 or at the latest by 2023, the German Association of Energy and Water Industries, BDEW, said Friday following a board meeting. Continue reading →

April 9, 2011 Posted by Christina Macpherson | business and costs, Germany | Leave a comment

Nuclear plant for sale – but no buyers

Hey, Wanna Buy a Nuclear Power Plant? – The Source – WSJ, 6 April 11, “………Nestled on the bank of the Isar river, there’s an unusual piece of real estate for sale in Bavaria. It’s the Isar II nuclear energy plant, or at least a 25% stake in it, for sale by Stadtwerke Muenchen, Munich’s regional utility.

SWM has in fact been trying to sell its stake in Isar II since the 1990s, but without success. In the early 2000s, the utility published an international call for bids in the Financial Times, a spokesman said, but that also did not end in a sale, and the utility appears to be saddled with the power plant until it becomes obsolete.

“With the future of nuclear energy totally uncertain [in Germany], there’s no buyer who would go into such a deal blind,” said Ingo Becker, an energy analyst at Kepler Capital Markets……investors are unable to assess the potential value of the plant.

On top of that, in the wake of Fukushima, the fact that nuclear power plants can’t be insured has made investors take an even more sober view of the industry…..Hey, Wanna Buy a Nuclear Power Plant? – The Source – WSJ

April 7, 2011 Posted by Christina Macpherson | business and costs, Germany | Leave a comment

Solar energy stocks up, as Germany turns against nuclear power

Solar Stock Winners: German Elections Propel Stocks by Eric Rosenbaum  03/29/11 – NEW YORK (TheStreet) — Solar stocks experienced a surge on election results in Germany, where Chancellor Angela Merkel’s party suffered big losses, and with the German electorate citing anti-nuclear energy policy as a primary issue. The long-term implications of the Green Party election victories in Germany have to be viewed as a positive for green energy,…..All solar stocks, from the German solar manufactures to the Chinese and U.S. solar companies, rallied on Monday after the German election results. German solar companies Conergy, Q-Cells, Solon and Solarworld were all up on Monday, with one-day returns between 8% and 12%, and Conergy leading the way..”

March 31, 2011 Posted by Christina Macpherson | business and costs, Germany | Leave a comment

Germany’s nuclear operators might scrap payments to renewables fund

UPDATE 1-German nuclear firms dodge green fund issue | Reuters, Mar 21, 2011 Report says they might scrap payments FRANKFURT,   – Germany’s nuclear operators dodged addressing a report that they might scrap payments of 300 million euros ($425.3 million) this year into a fund subsidising green energy after they had to close plants for safety checks.Sueddeutsche Zeitung, citing company sources, said last week’s enforced shutdown of reactors built before 1980 for security checks in light of the nuclear crisis in Japan, had prompted the four German operators to consider stopping the payments. [POWER/DE]…..UPDATE 1-German nuclear firms dodge green fund issue | Reuters

March 22, 2011 Posted by Christina Macpherson | business and costs, Germany | Leave a comment

Germany’s tax on nuclear plants biting into E.ON’s profit

E.ON Says 2011 Profit May Fall 32% on New Tax, Power Prices – Bloomberg, 9 March 11, The world’s largest utility by sales, said profit may fall as much as 32 percent this year after the German government imposed a new tax on its nuclear plants and on reduced earnings from selling power and gas.Adjusted net income, which E.ON uses to calculate its dividend, will slip to 3.3 billion euros ($4.59 billion) to 4 billion euros in 2011 from 4.88 billion euros last year, the Dusseldorf-based company said today. Adjusted earnings before interest, tax, depreciation and amortization will drop to 11.2 billion euros to 11.9 billion euros this year from 13.3 billion euros in 2010, the company said……

March 10, 2011 Posted by Christina Macpherson | business and costs, Germany | Leave a comment