nuclear-news

The News That Matters about the Nuclear Industry Fukushima Chernobyl Mayak Three Mile Island Atomic Testing Radiation Isotope

Cost of building nuclear plants, and the risk of time and cost overruns

 the issue of shifting the risk from the banks back to convincing consumers that they must bear the risk…. 

 the Vogtle project for two AP1000 reactors supplied by Toshiba/Westinghouse, is in a state (Georgia) where the regulator is already allowing cost recovery, even before the start of serious construction…. It is unlikely there will be many more states with regulators willing and able to commit consumers to repay all the costs, especially if things go wrong at these sites

Prospects for Nuclear Power in 2012, The Energy Report, 5 April 12 “…..Gen III+ Claims The nuclear industry would probably like to forget the claims it made for Generation III+ designs. In short, Gen III+ reactors would achieve the dream combination of being both safer and simpler, making them cheaper and easier to build. The expected overnight (excluding finance charges) construction cost was forecast to be no more than $1,000/kilowatt hour (KWh), so that a typical 1,500-megawatt (MW) nuclear power plant would cost $1.5 billion (B). This was much less than the few plants completed in the 1990s and, not by coincidence, a figure that meant power from new nuclear reactors would be competitive with power from gas-fired plants.

However, the $1,000/KWh promise quickly began to unravel, when the first order for a Gen III+ design, Olkiluoto in Finland, was priced in 2004 at more than double that level. Construction of the European Pressurized Reactor (EPR) supplied by French company Areva, and its only successor so far in the West, Flamanville in France, has descended into farce. Both plants are now five years over their expected construction time and the latest cost estimates are about double the level forecast at construction start. Most recent serious cost estimates and bids in the past few years for Gen III+ designs have been of the order of $6,000/KWh. Continue reading →

April 5, 2012 Posted by | business and costs, Reference, UK, USA | Leave a comment

UK and USA cannot ignore the economic effects of Fukushima

Prospects for Nuclear Power in 2012, The Energy Report, 5 April 12 “Banks have signaled that they are unwilling to bear the risk of financing new nuclear projects, leaving three sets of interests that might be able to take it on: the utilities, the vendor or the consumer, in some form, via the state.”

Even before the Fukushima disaster, the long-awaited nuclear renaissance in the West seemed to be running out of steam. There were two main factors behind this failure; the new Generation III+ reactors produced to take account of the lessons of Chernobyl that would spearhead the revival were not living up to their promises, and, more importantly, banks were proving unwilling to provide finance.

The key markets for the renaissance were the U.S. and the UK. Continue reading →

April 5, 2012 Posted by | politics, UK, USA | Leave a comment

Britain’s nuclear test veterans continuing their case in the courts

 our case is still live and on going .We have one case still proceeding to High Court another 1002 not yet statute barred and hearing before a Judge of almost 20 pension appeal cases

A Message from the Nuclear Veterans, Paul Langley’s Nuclear History Blog, Dennis Hayden, 5 April 12, THE DUST HAS SETTLED FOLLOWING THE SUPREME COURT DECISION.  THE UK CASE IS STILL ON GOING & UK MINISTERS’ JOY WILL BE SHORT LIVED    ”…… the Government and nuclear industry will do everything in their power to keep the UK Atomic Veterans Claimants case from a full court hearing on causation . Continue reading →

April 5, 2012 Posted by | Legal, UK | 1 Comment

Cost, not just safety issues, send a toxic cloud over the nuclear industry’s future

Nowadays, a typical scheme involving multiple reactors on one site, puts you back $25bn! The money was not to be produced up-front, of course, but created by complex financial packages based on debt, not equity.  The sums involved, the “paper” floating on the underlying asset – the nuclear complex – run into the trillions. 

Nuclear industry dreams dashed by current economic reality  http://www.guardian.co.uk/business/economics-blog/2012/apr/02/nuclear-dreams-economic-reality-blog?newsfeed=true  It was the financing model and rates of return that prompted German nuclear giants RWC and E.ON to pull out of UK energy plans Martin Cohen guardian.co.uk 2 April 2012 The news that nuclear giants RWE and E.ON are dropping plans to build any new UK reactors has sent a toxic cloud not only over Wales, but over the nuclear industry itself. Continue reading →

April 4, 2012 Posted by | business and costs, UK | Leave a comment

The smart money is on energy efficiency and renewables: the dumb money on nuclear

E.on and RWE are huge, blue-chip multinationals, yet see nuclear as too big a gamble and that’s despite the substantial subsidy it would enjoy in the UK,

Contrast all this with energy efficiency and renewables. The former makes sense by definition. The latter is where costs are coming down, even with the relatively limited subsidies they receive. And neither involve the Faustian pacts of nuclear power or oil and gas: they are as safe as the houses they power…..

Nuclear and gas blow outs show where the dumb money is, Guardian UK, Damian Carrington, 30 March 12,  The smart money is on energy efficiency and renewables yet a government terrified of “backing winners” appears happy to back the nuclear, oil and gas losers Follow the money: in the billion-dollar world of the energy business that is good advice. So what do the collapse of a quarter of the UK’s new nuclear power plans and the gas still billowing dangerously from Total’s Elgin rig in the North Sea tell us about keeping the lights on and tackling climate change at a price we can afford?

It tells us first that, despite decades of lavish public subsidy, nuclear power remains uninvestable without heavy state backing. Continue reading →

March 31, 2012 Posted by | business and costs, UK | Leave a comment

Nuclear industry dead at home, but Japan tries to sell it abroad

Japanese May Invest in U.K. Nuclear, WSJ, By SELINA WILLIAMS, 30 March 12 “……-RWE and E.ON are now seeking to sell their U.K. nuclear joint venture vehicle, named Horizon, that has two sites for new atomic power stations–at Wylfa in Wales and Oldbury in Gloucestershire in central England, as well as grid connections and around 130 employees,
including technical specialists, engineers, and project development specialists….

Japanese nuclear companies such as reactor vendors Hitachi and Toshiba Corp. and nuclear developers Mitsubishi Heavy Industries are seen by many in the nuclear industry as the most likely buyers.

Stymied at home following the Fukushima nuclear disaster last March, these companies are actively seeking new markets elsewhere and the U.K. could be a good base for expansion plans in Europe. “You could see a strong Japanese team coming in–there’s not going to
be building in Japan for the forseeable future, so growth for them can only come out of exports,” said George Borovas, a nuclear lawyer and partner at Pillsbury law firm that specializes in the energy sector…..

Stumping up the billions of pounds investment required to build a new reactor, coupled with the long lead times of construction as well as the cost overruns seen at other similar projects pose a huge challenge for any company seeking the finance, especially now in these
credit-strapped times.

March 31, 2012 Posted by | business and costs, Japan, UK | Leave a comment

2 big energy companies pull out of UK’s nuclear power projects

Energy firms abandon nuclear plans,  Google News, (UKPA) –30 Mar 12 The Government’s plans for a nuclear-power renaissance are in disarray after two of the “big six” energy giants pulled out of a venture to build new reactors…… The venture was hit by the global economic crisis and Germany’s decision to phase out nuclear power in response to the disaster at Fukushima following the Japanese earthquake and tsunami last year,… as well as the significant costs of the project…… They also confirmed they were committed to investing in energy schemes in the UK, including renewables and gas, which have shorter payback times on capital investment than nuclear build.

The latest withdrawal from nuclear new-build comes after Scottish and Southern Energy announced last year that it was pulling out of the NuGeneration joint venture to build a new plant at a site near Sellafield, West Cumbria….. Gary Smith, of the GMB union, said: “This is a devastating blow which leaves the UK Government energy strategy in tatters.” … environmental groups seized on the news as evidence that nuclear power, which provides just under a fifth of UK electricity supplies, was not a financially-viable option for the country’s future energy mix. They called for the Government to back renewables, which they said had the potential to create thousands of jobs, supply households and businesses with clean, safe and affordable electricity, and tackle climate change.

March 30, 2012 Posted by | business and costs, UK | Leave a comment

Price, and politics too, are bringing nuclear power development to a halt

U.K. Feels the Fallout From Nuclear-Industry Woes, WSJ,   By ANDREW PEAPLE, 30 Mar 12, Nuclear power has fallen out of fashion fast since last year’s Fukushima accident; now even supportive governments can’t catch a break. German utilities RWE RWE.XE -1.27% and E.ON EOAN.XE -1.79% on Thursday scrapped plans to invest £15 billion ($23.8 billion) building two new reactors in the U.K., …. Continue reading →

March 30, 2012 Posted by | business and costs, UK | Leave a comment

Scotland’s renewable energy winning success, and providing many jobs

Energy Minister delighted as Scotland beats renewable energy target Daily Record co UK, Mar 29 2012 FIGURES revealed today that an extra 45 per cent of renewable energy was generated in Scotland last year compared with 2010. The statistics published by the Department of Energy and Climate Change statistics mean around 35% of Scotland’s electricity needs came from renewables in 2011, assuming that gross consumption in 2011 is similar to 2010.

This beats the Scottish Government’s target of 31% for last year. Energy Minister, Fergus Ewing was delighted with the news. He said: “It’s official: 2011 was a record breaker with enough green electricity being produced in Scotland to comfortably beat our interim target. ”And Scotland met almost 40% of the UK’s renewables output in 2011, demonstrating just how much the rest of the UK needs our energy.

“We are seeing great progress towards our goal of generating the equivalent of 100% of Scotland’s electricity needs from renewables by 2020.” The figures show that renewable electricity generation, wind energy generation and hydro generation were all at a record high in 2011…..
Liberal Democrat Energy spokesman Liam McArthur said the figures, taken together with the Scottish Renewables report showing that over 11,000 jobs are directly related to the development of the renewables sector, confirm that Scotland is capitalising on the rewards that the renewable energy industry can bring…
http://www.dailyrecord.co.uk/2012/03/29/scotland-beats-renewable-energy-target-reveals-new-statistics-86908-23806298/

March 30, 2012 Posted by | renewable, UK | Leave a comment

Alas, ‘fast breeder’ reactors don’t solve the nuclear waste problem

Ultimately, however, the core problem may be that such new reactors don’t eliminate the nuclear waste that has piled up

Can Fast Reactors Speedily Solve Plutonium Problems? The U.K. is grappling with how to get rid of weapons-grade plutonium and may employ a novel reactor design to consume it , Scientific American, By David Biello  | March 21, 2012   The U.K. has nearly 100 metric tons of plutonium—dubbed “the element from hell” by some—that it doesn’t know what to do with.

The island nation does not need the potent powder to construct more nuclear weapons, and spends billions of British pounds to ensure that others don’t steal it for that purpose. The unstable element, which will remain radioactive for millennia, is the residue of ill-fated efforts to recycle used nuclear fuel. Continue reading →

March 26, 2012 Posted by | - plutonium, reprocessing, UK | Leave a comment

Gordon Brown claims Dalgety Beach radiation more dangerous than estimated before

Brown claims evidence of ‘disturbing’ radiation risk at Dalgety Bay The former prime minister is handing over a dossier to the MoD highlighting the heightened danger of radiation. News STV, 25 March 2012 Former prime minister Gordon Brown says he has
seen new evidence of “disturbing” levels of radiation at a Fife beach where wartime military aircraft were incinerated. Continue reading →

March 26, 2012 Posted by | environment, UK | Leave a comment

UK farmers welcome govt support for renewable energy projects on farms

Farm renewable energy boost, Farming News, (UK) , March 25, 2012 FARMERS’ leaders have welcomed Government plans to exempt small-scale renewable energy schemes on farms from planning regulations. Continue reading →

March 26, 2012 Posted by | decentralised, UK | Leave a comment

As Seoul nuclear summit approaches, Britain warns of nuclear terrorism

UK warns of nuclear risk ahead of Seoul summit  (Reuters) 23 March 12, – Britain warned on Friday there was a “significant likelihood” that terrorists will one day acquire chemical, biological or nuclear weapons unless countries step up their efforts to keep sensitive materials and information secure.

The British government released its first comprehensive National Counter-Proliferation Strategy, detailing the risks from the spread such weapons and what Britain and other countries can do to stop it.

It came out days before leaders from more than 50 countries, including U.S. President Barack Obama, gather in Seoul, South Korea, for a March 26-27 nuclear security summit focusing on measures to protect nuclear materials and facilities and to prevent illicit trafficking…..
“Nuclear terrorism is now a real and global threat,” British Deputy Prime Minister Nick Clegg, who will lead Britain’s delegation in Seoul, said in a statement….
http://in.reuters.com/article/2012/03/23/nuclear-britain-idINDEE82M0N320120323

March 24, 2012 Posted by | safety, UK | Leave a comment

Students alerting public to danger of nuclear waste dumping in Cumbria, UK

 the proposals … will be a ‘travesty of democracy’…..

there are claims that important scientific information is being ignored

Students fight Cumbria nuclear dump plan The Westmorland Gazette, 23 March 12, CONSULTATION over whether a nuclear waste repository should be built on Cumbria’s west coast comes to a close tomorrow with opponents making their voices heard in many imaginative ways… Continue reading →

March 24, 2012 Posted by | UK, wastes | Leave a comment

Posthumous honour for victim of killer on UK nuclear submarine

Navy officer shot dead by rampaging sailor on nuclear submarine is honoured  DAILY MAIL  , 24 March2012 A Royal Navy officer murdered trying to stop a sailor on a gun rampage aboard a nuclear submarine has been posthumously honoured. Lieutenant Commander Ian Molyneux was awarded a George Medal for tackling Able Seaman Ryan Donovan as he ran amok on HMS Astute. Continue reading →

March 24, 2012 Posted by | safety, UK | Leave a comment

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