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UK nuclear to be branded green to lure investors

Treasury may classify reactors as eco-friendly to win pension fund backing for Sizewell C. The Government is set to rebrand nuclear power as green energy to lure reluctant investors to get behind Sizewell C.

Nuclear power is included in a draft report from the Treasury laying out which energy sources are classed as eco-friendly, a sources told The Mail on Sunday. This may clear the way for big City investors, including pension funds, to invest in nuclear power, such as the planned £20billion power station on the Suffolk
coast.

 Mail on Sunday 14th Aug 2022

https://www.thisismoney.co.uk/money/markets/article-11108455/Nuclear-reactors-branded-green-lure-investors.html

August 14, 2022 Posted by | climate change, secrets,lies and civil liberties, UK | Leave a comment

More shelling near Ukraine nuclear plant

The Advocate, By Natalia Zinets, August 16 2022,

Ukrainian and Russian-installed officials have reported shelling near Europe’s largest nuclear power plant, with both sides blaming each other days after the world nuclear watchdog warned of disaster if the fighting does not stop.

Russia and Ukraine have traded accusations this month regarding the Zaporizhzhia nuclear plant in southern Ukraine, which dominates the south bank of a vast reservoir on the Dnipro River……………………………

Nuclear experts fear fighting might damage the plant’s spent fuel pools or reactors…………………………………………

Reuters could not immediately verify battlefield reports.  https://www.theadvocate.com.au/story/7862092/more-shelling-near-ukraine-nuclear-plant/?cs=5

August 14, 2022 Posted by | Ukraine, weapons and war | Leave a comment

Moldova ships in radiation pills as fighting rages near Zaporizhzhia nuclear power plant in Ukraine

euronews, By Ben Turner   15/08/2022 

Moldova has imported one million iodine pills as fighting rages around a nuclear power station in neighbouring Ukraine.

The eastern European country – with a population of 2.5 million people – insisted residents should not panic as it upped its stockpile of the tablets which can prevent radioactive elements building up in the body.

Shelling has intensified near Ukraine’s Zaporizhzhia nuclear power plant – the largest of its kind in Europe – with the UN warning fighting could “lead to disaster”……………………………………..

in the event of a nuclear disaster, iodine pills will be first issued to people unable to evacuate or take shelter such as emergency workers, Moldova’s National Agency for Public Health said.

Moldovan authorities advise citizens to take cover in cellars or basements, or evacuate the area, in the event of a nuclear emergency. …………………….. more https://www.euronews.com/2022/08/15/moldova-ships-in-radiation-pills-as-fighting-rages-near-zaporizhzhia-nuclear-power-plant-i

August 14, 2022 Posted by | EUROPE, health | Leave a comment

With its failing nuclear industry, France now an importer of power, no longer an exporter.

Sweden was the biggest net exporter of power in Europe during the first
half of 2022, overtaking France, according to a new report from EnAppSys.
France has long been a major exporter of power in the European market, with
a fleet of nuclear power stations generating a stable surplus of
electricity. However, that’s beginning to change, with France shifting from
a net exporter earlier in the year to a net importer.

This fall from grace
for France has, ironically, been blamed on its nuclear power station fleet,
which is beginning to show signs of age and unreliability. In fact, the
country has found several structural problems at its nuclear power
stations, which means it’s had to plug a significant gap in its electricity
supply with power generated elsewhere.

With France unlikely to be able to
fix its nuclear fleet anytime soon, it’s also unlikely to make it to the
top of the net power exporter list anytime soon either. Instead, the top
honour goes to Sweden, which exported a total of 16 TWh during the first
half of 2022. Most of that power, 7 TWh and 4 TWh, went to neighbours
Finland and Denmark, respectively.

However, the real story for the European
power export market is that Germany – a country commonly criticised for its
energy policies due to an overreliance on Russian gas – was Europe’s second
largest exporter in the first half of 2022. It exported 15.4 TWh, with
France taking the lion’s share. The UK also noticeably saw a change in its
fortunes in the first half of 2022, with the country going from a reliable
importer of electricity to a net exporter position, with power largely
flowing back to France. However, the UK still ended the six month period as
having imported 1.5% more power than exported.

Electrical Review 12th Aug 2022

August 14, 2022 Posted by | business and costs, France | Leave a comment

Germany continues to close down its last remaining nuclear reactors

Germany’s nuclear power operators will continue to decommission the
country’s last three remaining plants, even as the government weighs
whether to keep the facilities running over the winter. E.ON, RWE and EnBW
confirmed they had not procured additional fuel to extend the life of the
Isar 2, Emsland and Neckarwestheim plants beyond the end of the year, when
they are legally-mandated to close.

FT 12th Aug 2022

https://www.ft.com/content/0257588e-0ebe-4696-8c4e-77f0a192b616

August 14, 2022 Posted by | decommission reactor, Germany | Leave a comment

Rishi Sunak, UK Tory leader a keen supporter of the nuclear industry

Tory leader and Prime Minister contender Rishi Sunak says he is looking
forward to seeing plans for Wylfa Newydd if he’s elected and said he is a
strong supporter of nuclear. Former Chancellor Mr Sunak is going head to
head with Foreign Secretary Liz Truss to replace Boris Johnson. The UK
Government has earmarked Wylfa Newydd as a key site for new nuclear
although as yet no developer has been confirmed for the location after the
collapse of the previous plans following the withdrawal of Hitachi.

“Heunderstands that the Wylfa project is eligible for support as part of the
£120m Future Nuclear Enabling Fund, which was approved during his time as
Chancellor. He looks forward to seeing the proposals for the Wylfa Newydd
project if he is elected Prime Minister.” Wylfa and Trawsfynydd in
Gwynedd have also been tipped as potential sites for Small Modular
Reactors. Ms Truss’s campaign team have been asked to comment.

Daily Post 15th Aug 2022

https://www.dailypost.co.uk/news/north-wales-news/rishi-sunak-wylfa-newydd-nuclear-24756725

August 14, 2022 Posted by | politics, UK | Leave a comment

Ukraine targets Russian soldiers accused of threatening nuclear plant

ABC News, 15 Aug, 22

Key points:

  • Ukraine accused Russia of deliberately hitting the nuclear power plant in a section that powers energy to the south of Ukraine
  • The International Atomic Energy Agency has warned of a nuclear disaster unless fighting between forces stops
  • Kyiv says it’s planning a counteroffensive to recapture Zaporizhzhia and neighbouring Kherson provinces…………………………………………………..


more https://www.abc.net.au/news/2022-08-15/ukraine-targets-russian-soldiers-over-nuclear-plant-threat/101332708

August 14, 2022 Posted by | Ukraine, weapons and war | Leave a comment

Climate change: Drought highlights dangers for electricity supplies from nuclear, hydro, fossil, and solar sources

BBC, By Matt McGrath, Environment correspondent, 14 Aug 22,

The ongoing drought in the UK and Europe is putting electricity generation under pressure, say experts.

Electricity from hydropower – which uses water to generate power – has dropped by 20% overall.

And nuclear facilities, which are cooled using river water, have been restricted.

There are fears that the shortfalls are a taste of what will happen in the coming winter.

hat will happen in the coming winter.

In the UK, high temperatures are hitting energy output from fossil, nuclear and solar sources.

That is because the technology in power plants and solar panels work much less well in high temperatures………………………………………………………………………………..

The exceptionally hot weather is also hitting nuclear power production, especially in France. Around half of the 56 reactors in the fleet are offline, with several affected by a systemic issue with corrosion.

Those reactors that are working are often cooled with water from rivers that are now running low, while temperatures are running high.

“Once the water in the rivers is very low and very hot, basically you have to stop cooling down nuclear power plants. That’s because the water that’s released is dangerous for fish and other species in the rivers,” said Prof Sonia Seneviratne, from ETH Zurich.

The French government is now allowing some facilities to release very warm water back into the rivers, as a temporary measure.

It underlines the stresses the heat is putting on energy production. France is now making up the shortfall in electricity by importing from the UK among others.

Analysts say this is putting additional pressure on the UK system – at a time when the very warm weather is hitting production from gas and nuclear facilities.

It’s more difficult to cool the plants in the warmer weather, explains Kathryn Porter, an energy consultant with Watt-Logic.

“Solar panels also experience quite a significant drop off above 25C. Everything just works less well when it’s hot,” she adds……………. more https://www.bbc.com/news/science-environment-62524551

August 14, 2022 Posted by | climate change, EUROPE | Leave a comment

Ukraine Plant Under Fire Showcases ‘Dangerous’ Nature of Nuclear Power, Experts Say

“Having reactors in a war zone is a nightmare waiting to become a grim reality,” said one critic.

 https://www.commondreams.org/news/2022/08/08/ukraine-plant-under-fire-showcases-dangerous-nature-nuclear-power-experts-say KENNY STANCIL, August 8, 2022 Critics of atomic energy on Monday described the shelling of the Zaporizhzhia power station in southeastern Ukraine as “a warning that nuclear power plants are a liability, not an asset, especially under extreme conditions of war or climate change.”

While Kyiv and Moscow continue to trade blame for recent strikes on the largest nuclear power plant in Europe, advocates at Beyond Nuclear emphasized that regardless of who is at fault, damage to the six-reactor site could have deadly consequences “far beyond the war zone.”

“If even just one of the six operational reactors there suffered catastrophic damage and released its radioactive inventory we are talking about a humanitarian disaster that would dwarf Chernobyl,” Linda Pentz Gunter, international specialist at Beyond Nuclear, said in a statement.

Radioactive contamination from that 1986 nuclear accident in what is now Ukraine rendered an area of more than 1,000 square miles uninhabitable and caused the illnesses and deaths of potentially hundreds of thousands of people.

According to Beyond Nuclear, reactors at Zaporizhzhia “contain far more radioactivity, both in the working reactors and in the irradiated fuel pools, than was present at the relatively new Chernobyl Unit 4 when it exploded.”

“This situation brings home all too alarmingly just how dangerous nuclear power is as an energy source,” said Gunter. “We would not be having this conversation if we were dealing with solar panels or wind turbines.”

“The potential to cause a catastrophic accident even on a good day should have been enough to end the use of this technology,” she added. “Having reactors in a war zone is a nightmare waiting to become a grim reality.”

Beyond Nuclear is not alone in sounding the alarm about the dire consequences that could materialize following damage to Zaporizhzhia or any other nuclear power plants now at risk in Ukraine.

Last week, Shaun Burnie, senior nuclear specialist with Greenpeace, told Democracy Now! that “nuclear plants are extremely vulnerable to external attack in the context of a war zone.” He added, “You’re looking at potential massive releases of radioactivity, potentially even greater than Chernobyl.”

Buildings housing nuclear reactors are not designed to withstand missile attacks nor extreme weather events. In March 2011, a massive earthquake and tsunami led to a loss of power in three reactor buildings at Fukushima Daiichi in Japan, with calamitous results. As the fossil fuel-driven climate crisis supercharges storms, nuclear infrastructure is increasingly vulnerable to damage of that sort.

This is not the first time that nuclear engineers at Zaporizhzhia have found themselves under military assault. Russian shelling of the facility in early March sparked a fire.

None of the reactor buildings or fuel storage sites were affected then. “But after more than five months of fighting,” Beyond Nuclear explained Monday, “the site has become more perilous, given its proximity to the eastern regions that are at the heart of contention between the two countries.”

“The risk of fire is one of the most serious hazards at nuclear power plants on a routine basis,” said Paul Gunter, reactor oversight specialist at Beyond Nuclear. “A fire at Zaporizhzhia could spread to the irradiated fuel storage pools located outside primary containment and lead to explosions and meltdowns.”

“If the fuel pools are damaged and cooling water boils away, exposing the highly radioactive rods to air, we could see hydrogen explosions and the spread of radioactivity far worse than occurred at Fukushima,” he continued.

Winds would distribute radioactive gases across Europe and, depending on the scale of the disaster, beyond, potentially reaching as far away as the United States. A Greenpeace analysis published earlier this year warned that severe damage to Zaporizhzhia could render large swaths of Europe “uninhabitable for decades.”

Radioactive fallout from the facility could subject tens of millions of people to chronic or fatal health problems, with the effects of exposure lasting for years on end.

Thirty-six years after Ukraine’s first nuclear disaster, “people still living in Chernobyl-contaminated areas are showing increases in cardiovascular disorders, issues with sight and respiration, and significantly increased rates of birth defects and deformities,” said Cindy Folkers, radiation and health hazards specialist at Beyond Nuclear.

“Given the far greater amounts of radiation that could be released in the event of a major disaster at Zaporizhzhia, we would expect to see greater numbers of people seriously harmed and for far longer than the health impacts caused by Chornobyl,” Folkers said.

August 11, 2022 Posted by | safety, Ukraine, weapons and war | Leave a comment

Electricite de France (EDF) nuclear corporation is headed for bankruptcy – that’s why France’s government is nationalising it.

Is EDF running out of money? The French government is to spend £20
billion buying back the final 16% of Electricité de France (EDF) shares
still privately owned, bringing the company back under public ownership.


Why are they renationalising this company? The answer is simple. It is to
avoid EDF going bankrupt. Right now, over half (29 out of 56) of EDF’s
French nuclear reactors are currently offline. The company is already
hugely indebted and faces a massive bill of up to 100 billion euros (£85
billion) to keep its ageing nuclear fleet going.

And EDF’s flagship EPR reactor is over-cost and over-time everywhere it is being attempted to be
built. Aside from its debts, EDF has faced issues with ageing reactors,
after experts warned President Macron of significant corrosion safety
problems in EDF nuclear power plants in France as cracks were detected in
the cooling systems of some nuclear reactors.

Meanwhile there is delay after delay in bringing online every one of the EDF flagship nuclear
reactors, in Finland, in France, even here in Somerset. In desperation to
help fund its latest lossmaker at Sizewell, Suffolk, EDF is reaching out to
fellow utility giant Centrica for help. Could this be the same Centrica,
which in 2016 abandoned plans to invest in EDF’s Hinkley C partly because
of ‘the lengthening time frame for a return on the capital invested in a
project of this scale’?

 Electrical Review 9th Aug 2022

August 9, 2022 Posted by | business and costs, France, politics | Leave a comment

Ukraine and its Western backers should be held accountable for the ‘suicidal’ attack on Europe’s largest nuclear powerplant

The US secretary of state hoped to make Russia look like a ‘nuclear terrorist’. Instead, he implicated himself

Even as UN Secretary-General António Guterres addressed survivors of the World War Two US atomic bomb attack on Hiroshima, halfway around the world, the armed forces of Ukraine seemed hellbent on unleashing a modern-day nuclear holocaust on Europe by firing artillery rockets at the Zaporozhye power plant. 

This week’s assault, which damaged safety equipment and disrupted power to the facility, the continent’s largest, was characterized by Guterres as “suicidal.”

Kiev was quick to blame Russia for the attacks, accusing Moscow of conducting “nuclear terrorism,” and calling for the international community to send in a delegation of “international peacekeepers” to “completely demilitarize the territory.”

The Zaporozhye nuclear facility has been under the physical control of Russia since its forces occupied the site back in March. Since then, the plant has been operated by Ukrainian technicians working under the supervision of Russian atomic energy experts. The facility contains six nuclear reactors which, before the start of the military operation, generated approximately one-fifth of Ukraine’s electricity. Three of these reactors ceased operation after the Russians took control the site, and another one was forced to shut down after the facility was shelled on August 5. The two remaining reactors were likewise compelled to reduce their output to half as a safety precaution.

Ukraine’s ambassador to the International Atomic Energy Agency (IAEA), Yevhenii Tsymbaliuk, declared that Russian forces were attempting to cause electricity blackouts in southern Ukraine by shelling the plant. The Ukrainian state nuclear agency, Energoatom, has accused the Russian military of placing explosives throughout the Zaporozhye nuclear plant, which would be detonated in the event of a Ukrainian counterattack which threatened to capture the facility. The Ukrainian military has also accused Russia of placing military equipment, including ammunition, in buildings located near the nuclear reactors.

The only problem with the Ukrainian narrative is that, simply put, none of it is true. The August 5 attack on the Zaporozhye nuclear facility was carried out by artillery rockets whose impact characteristics point clearly to having originated from Ukrainian controlled territory. Moreover, Russian air defense and counter-battery radars situated in the vicinity of the plant would have detected the ballistic trajectory of the incoming rockets, providing unimpeachable evidence of the origin of the attack. So, too, would have US and NATO intelligence collection platforms operating over and around Ukraine. And, given the propaganda victory that could be achieved by releasing such evidence, one can rest assured that the US would very much take full advantage of any scenario which would reproduce the release of U-2 imagery during the Cuban missile crisis, or the release of the audio tapes of the Soviet fighter pilot downing KAL 007…………………………….

The Ukrainian attack on the Zaporozhye nuclear facility was, in typical Orwellian fashion, forecasted by the United States four days before it took place. During an August 1 news conference at the United Nations, US Secretary of State Antony Blinken accused Russia of using the nuclear facility as a base from which it conducted artillery strikes against Ukraine. Blinken declared that the act of firing artillery rockets from proximity to the nuclear power plant was “the height of irresponsibility,” implying that these rockets could land on the power plant itself. Blinken also added that the Russians were using the nuclear facility as a “nuclear shield” which prevented any Ukrainian attack out of fear of striking the nuclear reactors.

Blinken’s brazen parroting of Ukrainian government talking points was made more absurd by the absolute dearth of evidence to back up his powerful pronouncements. Normally, when someone of the stature of the Secretary of State speaks in such a public manner about issues of this importance, there is some intelligence information that is released – for instance, overhead imagery showing Russian troop locations near the Zaporozhye nuclear plant – to sustain the allegation. No such data was provided, however, because Blinken had ceased functioning as the head of the American diplomatic service, and instead was functioning as little more than a Ukrainian propagandist.

For its part, Russia has made it clear that there were no Russian forces located in the vicinity of the Zaporozhye nuclear facility save for a small contingent of troops for security purposes (it is, after all, an active nuclear power plant.) Again, while Russia can clearly provide overhead imagery of its force disposition in the vicinity of the plant, operational security precludes it from doing so. It is, after all, the job of the accuser to provide the evidence of a crime, not the accused.

Blinken’s August 1 statement served as the initiation of a public relations campaign which culminated in the Ukrainian artillery attack on the Zaporozhye nuclear facility. The goal of this campaign appears to be twofold – first, to put Russia in a bad light, and second, to allow Ukraine to accomplish that which it could not achieve through military force – the eviction of Russian troops from Zaporozhye. The calls for international intervention emanating from the West point to a concerted effort in promoting a pro-Ukrainian narrative even when all parties know the underlying facts sustaining this narrative are not true. To counteract that, Russia has extended its own invitation to IAEA monitors to visit the powerplant and summoned a UN Security Council meeting to discuss the situation.

This is far more serious than simply another information warfare campaign gone bad. While the Zaporozhye nuclear facility is constructed to standards which would be able to survive a direct hit from an artillery rocket, the disruption of power and/or damage to safety equipment could lead to the kind of runaway event that preceded the Chernobyl nuclear disaster. The Russian Defense Ministry noted that the Ukrainian attack on the power plant had caused a power surge which triggered an emergency shutdown. The head of the Ukrainian company operating the plant further noted that all but one power line connecting it to Ukraine’s energy system had been destroyed, declaring that any power blackout could be “very unsafe for such a nuclear facility.”

Secretary-General Guterres rightly called the attack on the Zaporozhye nuclear facility “suicidal.” However, the “nuclear terrorists” involved in this atrocity do not hail from Moscow, but rather Washington and Kiev. When the dust from Russia’s military operation finally settles, and those responsible for perpetrating crimes such as the attack on the Zaporozhye nuclear facility can be held accountable, Tony Blinken’s name should, if there were any justice in this world, be at the top of this list. 
 https://www.rt.com/russia/560561-ukraine-nuclear-powerplant-attack/

August 9, 2022 Posted by | spinbuster, Ukraine, weapons and war | Leave a comment

Russia summons session of UN Security Council over nuclear emergency

 https://www.rt.com/russia/560576-zaporozhye-nuclear-plant-un/ 10 Aug 22, Moscow has accused Kiev of striking the Zaporozhye nuclear power plant, risking a repeat of the Chernobyl disaster

Russia has summoned an emergency session of the UN Security Council to discuss the situation at Ukraine’s Zaporozhye nuclear power plant, which has been the subject of regular shelling attacks. Moscow wants the chief of the UN nuclear watchdog, the International Atomic Energy Agency (IAEA), to brief the council on the situation.

The move, which was reported by Russian media on Tuesday, was confirmed by the deputy head of Russia’s mission to the UN, Dmitry Polyansky, who said the public needed to learn about “Ukrainian provocations.” The meeting is expected to take place on Thursday.

Russia has summoned an emergency session of the UN Security Council to discuss the situation at Ukraine’s Zaporozhye nuclear power plant, which has been the subject of regular shelling attacks. Moscow wants the chief of the UN nuclear watchdog, the International Atomic Energy Agency (IAEA), to brief the council on the situation.

The move, which was reported by Russian media on Tuesday, was confirmed by the deputy head of Russia’s mission to the UN, Dmitry Polyansky, who said the public needed to learn about “Ukrainian provocations.” The meeting is expected to take place on Thursday.

The IAEA has not had access to the site since before the Russian-Ukrainian conflict escalated in late February and relies on reports from Ukraine to assess the situation on the ground. The Zaporozhye plant is manned by Ukrainian nuclear workers despite being under Russian control.

On Saturday, Director General Rafael Mariano Grossi expressed the IAEA’s concern over the artillery strikes, stating that they underlined “the very real risk of a nuclear disaster that could threaten public health and the environment in Ukraine and beyond.”

“I condemn any violent acts carried out at or near the Zaporozhye nuclear power plant or against its staff,” he stressed.

Grossi is expected to lead an inspection of the facility for an independent assessment of the situation and verification that non-proliferation safeguards remain in place.

The Zaporozhye plant is the largest in Europe and stores tens of tons of enriched uranium and plutonium in its reactor cores and spent fuel storage, according to the IAEA. The watchdog chief earlier said he was alarmed that the security of the radioactive materials may be compromised amid Russian-Ukrainian hostilities.

Both Kiev and Moscow stated that they were eager for the proposed inspection to take place. However, it has yet to materialize due to security concerns. The Russian foreign ministry said on Tuesday that the delay played into Kiev’s hands by allowing it to continue its provocative attacks.

Moscow called on UN Secretary General Antonio Guterres to leverage his authority to speed up the IAEA visit. The UN Department of Safety and Security is acting irresponsibly by stalling the visit, foreign ministry spokesperson Maria Zakharova alleged in an interview on Wednesday.

Guterres last week said that “any attack to a nuclear plant is a suicidal thing.”

Russian diplomats and military officials stated that attacks on Zaporozhye power plant could result in a disaster worse than the Chernobyl reactor meltdown and steam explosion in 1986.

August 9, 2022 Posted by | politics international, Russia, safety, Ukraine | Leave a comment

EDF sues French government for €8.4bn after Macron forces it to sell energy at a loss

EDF is suing the French government for €8.3bn (£7bn) after Emmanuel
Macron forced the nuclear giant to sell energy at a loss.

The company has filed a compensation claim with the Conseil d’Etat, the French
administrative supreme court, over “losses incurred” as a result of a
price cap extended in January. Paris ordered EDF, which is currently 84pc
state owned, to sell more of its power to French rivals at below market
prices in an attempt to support households and businesses as energy costs
soared.

EDF, which is in the process of being fully nationalised by the
French state, said the €8.3bn figure reflected losses “estimated to
date”, suggesting the price cap could cost it €15bn over the full year.
EDF estimated the changes would cost it between €7.7bn and €8.4bn when
they were first announced and said it would consider “any measure to
protect its interests”. Before the measure was enacted, competitors were
allowed to buy 100TWh of EDF’s electricity at a heavy discount to balance
its monopoly position. In January, the Elysée ordered that cap to be
increased by a fifth.

 Telegraph 9th Aug 2022

https://www.telegraph.co.uk/business/2022/08/09/edf-sues-french-government-84bn-macron-forces-sell-energy-loss/

August 9, 2022 Posted by | France, legal | Leave a comment

Very high radiation risks amid shelling at the Zaporizhzhia nuclear power plant.

The head of Ukraine ‘s state nuclear power firm has warned of “very high”
radiation risks amid shelling at the Zaporizhzhia nuclear power plant.
Energoatom’s chief, Petro Kotin, said it was vital Kyiv regains control
over the facility in the Russian-occupied south in time for winter.

He added that last week’s shelling had damaged three lines that connect the
plant to the Ukrainian grid and that Russia wanted to connect the facility
to its grid. Some of the shelling landed near storage facilities for spent
fuel, an area that has 174 containers of highly radioactive material, Kotin
said. He warned of the dangers of them being hit, saying: “This is…the
most radioactive material in all the nuclear power plant.

 Mirror 10th Aug 2022

https://www.mirror.co.uk/news/world-news/ukraines-nuclear-chief-warns-very-27702181

August 9, 2022 Posted by | safety, Ukraine | Leave a comment

French Nuclear Giant Sues Government For $8 Billion

https://oilprice.com/Latest-Energy-News/World-News/French-Nuclear-Giant-Sues-Government-For-8-Billion.htmlBy Charles Hugh Smith – Aug 10, 2022, 

French nuclear giant EDF, forced to sell power to competitors below market value, is now suing the French government for over $8 billion in compensation. 

EDF says it has lost 8.3 billion euros (nearly $8.6 billion at today’s exchange rate) as of the date of filing the claim against the government, and anticipates losing more than 15 billion euros for the full year.

The French power company, which is already 84% owned by the government and is in the process of being fully nationalized, is forced to sell electricity it produces to rival power plants to increase competition as EDF holds a monopoly. 

The initial government decree states that suppliers can purchase up to 25% of EDF’s annual nuclear output between July 2011 and December 2025 at a fixed, discounted price of about $47 per MWh. However, in January this year, the government implemented a larger cap at one-fifth in order to reduce consumer energy bills for this year. Then, in March, the government issued additional decrees, further increasing the volume and reducing the price for EDF. 

The losses cited by EDF stem from this time period. 

In June, EDF reported earnings showing its largest ever half-year loss. EDF lost 5.3 billion euros in the first half of this year, compared to 4.2 billion euros in profit for the same period of 2021. 

EDF’s power stations account for 70-75% of France’s power consumption, and the government is keen on nationalizing the giant in order to ensure energy supplies amid a looming crisis that began when Russia invaded Ukraine. 

Losses are mounting for EDF in other areas, as well. 

Last week, EDF was forced to slash output at nuclear power stations on two rivers as a heatwave spreading across Europe has rendered the rivers too hot to cool the units. 

August 9, 2022 Posted by | France, Legal | Leave a comment