Germany will vote against EU plans to label nuclear power as a green investment,
Germany says it will vote against EU plans to label nuclear power as a green investment, https://www.euronews.com/green/2022/05/17/germany-will-vote-against-eu-plans-to-include-nuclear-energy-as-a-green-investment By Kate Abnett with Reuters – UK Online Report Business News 17/05/2022
Germany will oppose European Union plans to include nuclear energy as a sustainable investment in its “taxonomy” policy for labelling green investments, the government said on Monday.
With the bloc aiming to achieve net-zero by 2050, massive investments into sustainable energy sources are needed. The European Commission is looking to class nuclear energy as ‘green’ making it easier for states and the private sector to invest.
Brussels is now seeking approval from EU countries and European Parliament for its plan to label gas and nuclear as climate-friendly investments. It has split opinions among states who disagree with the fuels’ green credentials.
Germany, the EU’s biggest economy, is among those planning to reject it when countries come to vote on the plan in the coming weeks.
“The Federal Government has expressed its opposition to the taxonomy rules on nuclear power. This ‘no’ is an important political signal that makes clear: Nuclear energy is not sustainable and should therefore not be part of the
taxonomy,” Germany’senvironment ministry and its economy and climate ministry said in a statement.
Nuclear energy is not sustainable and should therefore not be part of the taxonomy.
“Accordingly, the Federal Government would vote for the Council to object to the EU Commission’s delegated legal act,” the ministries said.
A ‘gold standard’ for green investing
To reject the rules, 20 of the EU’s 27 countries must oppose it – a high threshold seen as unlikely to be reached. Germany’s stance could also steer opinion in the European Parliament, however, where a majority of the assembly’s 705 lawmakers could block the gas and nuclear rules in a July vote.
The EU’s sustainable finance taxonomy was designed to provide a “gold standard” for green investing, by limiting which investments can be labelled climate-friendly to only those that truly protect the planet.
Austria is leading a call for legal action because of “serious concerns” about nuclear energy being too expensive and slow to actually fight climate change. Officials from the country have pointed out that, whilenuclear energy generation is CO2-free, the problem of nuclear waste has still not been solved.
The small but wealthy nation of Luxembourg is also considering legal action if the decision to label nuclear energy as ‘green’ goes ahead.
\The plan to label gas as climate-friendly has faced criticism from countries including Spain, although some countries had lobbied hard for the taxonomy to incentivise gas investments to help them phase out coal.
Gas emits less CO2 than coal when burned, but is also associated with leaks of methane, a potent greenhouse gas.
Environmentalists oppose possibility of extending the life of Diablo Canyon Nuclear Power Plant
ABC Los Angeles Eyewitness News, Dozens of environmental and anti-nuclear organizations expressed opposition Tuesday to any attempt to extend the life of California’s last operating nuclear power plant, challenging suggestions that its electricity is needed to meet potential future shortages in the nation’s most populous state.
Last month, Democratic Gov. Gavin Newsom raised the possibility that the Diablo Canyon Nuclear Power Plant – which sits on a coastal bluff halfway between San Francisco and Los Angeles – could keep running beyond a scheduled closing by 2025………….
PG&E, which in 2016 decided to shutter the plant by 2025, did not directly address Newsom’s suggestion at the time or say whether the company would consider seeking federal dollars to remain open beyond the scheduled closing.
PG&E announced the closing plan in 2016 as part of a deal with environmentalists and union workers, citing a “recognition that California’s new energy policies will significantly reduce the need for Diablo Canyon’s
……… The environmental groups argued that continuing to operate the plant beyond its scheduled closing would generate hundreds of tons of highly radioactive waste, with no permanent storage site for it. And they said state, by its own account, is lining up enough wind, solar and other renewables to replace Diablo’s electricity.
They also questioned whether any federal funds would be enough to unravel the complex deal to close Diablo Canyon, which is regulated by state and federal agencies.
Issues in play at Diablo Canyon range from a long-running debate over the ability of structures to withstand earthquakes – one fault runs 650 yards (594 meters) from the reactors – to the possibility PG&E might be ordered by state regulators to spend potentially billions of dollars to modify or replace the plant’s cooling system, which sucks up ocean water and has been blamed for killing fish and other marine life.
Newsom continues to support closure of the plant “in the long term” as the state moves to renewable energy……. https://abc7.com/diablo-canyon-nuclear-power-plant-environmentalists-extension/11864747/#:~:text=Facing%20possible%20electricity%20shortages%2C%20California,its%20planned%20closing%20in%202025.
France’s nuclear corrosion problem will need a ”large scale” plan, and ”several years” to fix.
The head of French nuclear regulator ASN said on Tuesday (17 May) that
fixing corrosion problems at some of state-controlled utility EDF’s
nuclear reactors would require a “large scale” plan and “several
years” as he warned of a risk more reactors could be halted.
Euractiv 18th May 2022 https://www.euractiv.com/section/electricity/news/fixing-edfs-reactors-corrosion-mystery-to-take-several-years-french-regulator-warns/
France’s Nuclear Safety authority struggles with the problems realated to corrosion in 12 reactors
Nuclear: faced with the problem of corrosion, a “large-scale” control
program. The president of the Nuclear Safety Authority, Bernard Doroszczuk,
gives a “general positive assessment” of the safety of the park, but
underlines “points of vigilance”.
The traditional exercise aimed to take
stock of the state of nuclear safety in 2021. In the end, it was the events
that occurred during the very last weeks of the year, but also during the
first months of 2022, that was at the heart of Bernard Doroszczuk’s speech
to the members of the Parliamentary Office for the Evaluation of Scientific
and Technological Choices on Tuesday 17 May.
The President of the Nuclear
Safety Authority (ASN) returned to the consequences of the “stress
corrosion” phenomenon observed on parts of the pipes which allow water to
be injected into the main primary circuit in order to cool the core. of the
reactor in the event of an accident.
Since mid-December, EDF has shut down
or extended the shutdown of twelve units in order to carry out in-depth
assessments or repairs related to this problem. If the origin of this
corrosion is not completely determined, Mr. Doroszczuk indicated that it
could be due to the “design” of the reactors: the oldest and most
widespread in the fleet are based on an original technology American, while
the most recent were designed according to a model adapted by EDF. However,
the piping that goes from the primary circuit to the first valve is longer
and more complex on the second, and this route could generate greater
thermomechanical stresses.
Le Monde 17th May 2022
Nuclear Free Local Authorities seeks assurance British nuclear will not rely on Russian uranium
An organisation representing UK councils, Nuclear Free Local Authorities
(NFLA), has written for reassurance that Russian uranium will not be used
to power British nuclear reactors. The group reached out to the Chief
Executive of nuclear plant operator EDF energy, Simone Rossi, and the
Minister for Climate Change, Greg Hands, for clarification.
This comesafter NFLA Chair, Cllr David Blackburn, noticed mentions of a long-term
contract for natural and enriched uranium with Russian-owned supplier Tenex
in an EDF Energy report. In the annual financial report from EDF’s French
parent company, one section looks at the company’s strategy for enriching
natural uranium into uranium 235
Environment Journal 17th May 2022
Five reasons that Russia’s nuclear exports will continue, despite sanctions and the Ukraine invasion. But for how long?
By many measures, Russia’s state-controlled nuclear energy company,
Rosatom, has primacy in the global nuclear energy market. At any given
moment, the firm provides technical expertise, enriched fuel, and equipment
to nuclear reactors around the world.
The Russian invasion of Ukraine and,
more acutely, the Russian military’s dangerous actions at the
Zaporizhzhia nuclear power plant and in the Chernobyl exclusion zone have
many countries rethinking their dependence on Russian nuclear products and
searching for alternatives.
Additionally, the ensuing global effort to
cripple Russian access to international markets calls into question the
viability of current contracts, government licensing, and financial
instruments involved in Russia’s nuclear exports.
Concurrently, the invasion has highlighted the lack of energy source diversification across
Europe. Headlines have focused on how several European countries decided to
phase out or delay plans to build new nuclear power plants in the wake of
the 2011 Fukushima-Daiichi disaster and, instead, increase imports of
Russian oil and natural gas to feed their electric grids’ baseload needs.
Now, in response to the sudden European effort to minimize dependence on
Russian imports, the United States has sent tankers of liquefied natural
gas (LNG) to European ports. Additionally, the United States and partners
are releasing a round of oil from their strategic stockpiles to stabilize
market prices. For oil and natural gas supplies to Europe, there are some
immediate alternatives available.
However, for nuclear power plants,
swapping in alternative supplies is causing serious dilemmas and could lead
to stranded assets.
Bulletin of Atomic Scientists 17th May 2022
Five reasons that Russia’s nuclear exports will continue, despite sanctions and the Ukraine invasion. But for how long?
Japan OKs plan to release Fukushima nuclear plant wastewater
Japan’s nuclear regulator has approved plans by the operator of the wrecked Fukushima nuclear plant to release its treated radioactive wastewater into the sea next year, saying the outlined methods are safe and risks to the environment minimal
By Mari Yamaguchi Associated Press, May 18, 2022,
………. There is still concern in the community and neighboring countries about the potential health hazards of the release of the wastewater that includes tritium — a byproduct of nuclear power production and a possible carcinogen at high levels.
The government and TEPCO say more than 60 isotopes selected for treatment can be lowered to meet safety standards, except for tritium, but that it is safe if diluted. Scientists say impact of long term low-dose exposure to the environment and humans are unknown, and that tritium can have a bigger impact on humans when consumed in fish than in water.
,,,,,,,,,, Under the plan, TEPCO will transport water that has been treated to below releasable levels through a pipeline from the tanks to a coastal facility, where the water is diluted with seawater.
From there, the water will enter an undersea tunnel to be discharged at a point about 1 kilometer (0.6 mile) from the plant to ensure safety and minimize the impact on local fishing and the environment, according to TEPCO.
The plan will become official after a 30-day public review, a formality that is not expected to overturn the approval.
………..The contaminated water is being stored in about 1,000 tanks at the damaged plant, which officials say must be removed so that facilities can be built for its decommissioning. The tanks are expected to reach their capacity of 1.37 million tons next year — slower than an earlier estimate of later this year……….. https://abcnews.go.com/Technology/wireStory/japan-oks-plan-release-fukushima-nuclear-plant-wastewater-84800836
U.S. extends application deadline for nuclear power rescue program
WASHINGTON, May 18 (Reuters) – The U.S. Department of Energy said on Wednesday it has extended a deadline by 47 days, to July 5 for nuclear power plants to apply for federal funding to keep them running.
The first stage of the program is aimed at saving two plants, one in California and one in Michigan.
……. The DOE statement came two days after two industry trade groups, Edison Electric Institute and Nuclear Energy Institute, sent a letter to Energy Secretary Jennifer Granholm requesting the extension on behalf of their members.
Under the plan, called theCivilian Nuclear Credit (CNC) program, owners of nuclear reactors that are scheduled to retire would get priority for the first portion of $6 billion in available funding. CNC funding comes from last year’s bipartisan infrastructure law.
Entergy Corp’s (ETR.N) Palisades plant in Michigan, which may be eligible for the funding, is due to shut down on May 31.
Entergy said in an email it was committed to shutting the plant after its Chief Executive Leo Denault said in an earnings call in April that there are “significant technical and commercial hurdles to changing course at this point.”
………. The Diablo Canyon facility in California, owned by PG&E Corp (PCG.N), is scheduled to fully shut in 2025. A company spokesperson said on Tuesday the utility had not yet decided whether to apply for the funds. https://www.reuters.com/business/energy/us-extends-application-deadline-nuclear-power-rescue-program-2022-05-18/
Don’t hold your breath waiting for NuScam’s small nuclear reactors to be profitable
As for valuation, the company is being valued on significant growth occurring in the potentially far distant future, so prospective investors would essentially be betting on the company’s ability to sell operating units at scale and profitably…and to do so in the coming near-to-medium term rather than the 2030s or beyond.
Spring Valley Completes NuScale Merger, But Growth Timing Is Unknown, Donovan JonesMarketplace, Author of IPO Edge. May 18, 2022 A Quick Take On NuScale.
Spring Valley Acquisition Corp. (NYSE:SMR) has announced the closing of its initial business combination with NuScale Power for an estimated enterprise value of approximately $1.9 billion.
NuScale has developed proprietary nuclear small modular reactors for utilities and industrial customers.
It is likely that NuScale will require significant time to generate material revenue growth and even longer for profits
……………. Business Combination Terms
The Spring Valley Acquisition SPAC originally raised $230 million in gross proceeds in its IPO in late 2020, selling a total of 23 million units including underwriter allotments.
The previously announced transaction included a PIPE (Private Investment in Public Equity) which rose to $235 million from Samsung C&T, DS Private Equity, Segra Capital Management and Spring Valley’s sponsor Pearl Energy.
The deal will provide NuScale with gross proceeds of up to $413 million to pursue its commercialization initiatives and growth plans.
Major NuScale investor Fluor Corporation will retain approximately 60% ownership of NuScale, with other legacy shareholders retaining approximately 20.4%, the Spring Valley SPAC public shareholders having 6.5%, the Spring Valley Acquisition Sponsor retaining 2.4% and PIPE investors purchasing 10.7% of the outstanding NuScale stock.
………………. As for valuation, the company is being valued on significant growth occurring in the potentially far distant future, so prospective investors would essentially be betting on the company’s ability to sell operating units at scale and profitably…and to do so in the coming near-to-medium term rather than the 2030s or beyond.
…………….. In any event, it is likely that NuScale will require significant time to generate material revenue growth and even longer for profits, so I’m on Hold over the near term for SMR. https://seekingalpha.com/article/4512948-spring-valley-completes-nuscale-merger-but-growth-timing-is-unknown
Back to square one for $28B nuclear management contract.
By Nick Wakeman, WashingtonTechnology, Editor-in-chief MAY 17, 2022
The National Nuclear Security Administration is taking current global events into account as it develops new solicitations. It’s back to the drawing board for the National Nuclear Security Administration and its $28 billion contract to manage two facilities that process nuclear weapons and other weapons of mass destruction.
That huge contract attracted mega-teams including such notable market players as Booz Allen Hamilton, Leidos, Amentum and Fluor.
Fluor and Amentum are the main partners in joint venture Nuclear Production One LLC. That team also known as NPOne unseated the incumbent Consolidated Nuclear Security LLC, another joint venture.
Consolidated Nuclear Security’s key members include Bechtel National, Leidos, Northrop Grumman and SOC LLC. Booz Allen is involved also as a subcontractor.
After losing the contract in late November, CNS went to the Government Accountability Office with a protest that claimed the winner had an organizational conflict-of-interest and NNSA improperly evaluated the bids.
In December, the National Nuclear Security Administration said it would review the award decision. NNSA is part of the Energy Department.
With that review done, NNSA decided this week to scrap the whole thing and split the contract into two separate acquisitions. One will be for the Pantex Plant near Amarillo, Texas; and the second for the Y-12 National Security Complex in Oak Ridge, Tennessee.
Each facility will now have its own presumably multibillion-dollar contract for management and operations services.
NNSA said it was splitting the contract because each facility has increased workloads. A “challenging geopolitical environment” was another reason cited………..
NNSA has now begun the process of developing two new solicitations. The NPOne and CNS teams will presumably continue to pursue the contracts.
But they are likely now armed with much more information on each other’s bids and approaches to the work, given what they’ve learned through debriefings and the protests.
NNSA’s restart also opens the opportunity to bring on new teammates as they push to differentiate themselves.
In the meantime, the current contract with Consolidated Nuclear Security will be extended.
GovTribe data shows that contract has netted $32 billion in spending since it was awarded in 2013. https://washingtontechnology.com/contracts/2022/05/back-square-one-28b-nuclear-management-contract/367044/
1.2 billion people threatened by escalating heat due to climate change
Rolling out cooling technologies to the 1.2 billion people most at risk
from extreme heat incidents should be a global priority, according to the
global Sustainable Energy for All (SEforALL) campaign.
In a new report, titled Chilling Prospects, SEforALL reveals the escalating threat
communities are facing from extreme heatwaves and warns that the world is
entering a decisive decade when sustainable cooling solutions must be
deployed at pace if increasingly common heatwaves are not to have
catastrophic and deadly consequences.
The report assesses 76 countries with
cooling access challenges and found that, globally, 1.2 billion people do
not have adequate access to cooling, threatening their ability to survive
extreme heat, store nutritious food, or secure access to safe vaccines.
Business Green 17th May 2022
Climate change makes record-breaking heatwaves in northwest India and Pakistan 100 times more likely
Climate change makes record-breaking heatwaves in northwest India and
Pakistan 100 times more likely, a Met Office study finds. The region should
now expect a heatwave that exceeds the record temperatures seen in 2010
once every three years.
Without climate change, such extreme temperatures
would occur only once every 312 years, the Met Office says. The report
comes as forecasters say temperatures in north-west India could reach new
highs in the coming days. The extreme pre-monsoon heatwave the region has
suffered in recent weeks eased a little after peak temperatures reached 51C
in Pakistan on Saturday.
But the heat looks likely to build again towards
the end of this week and into the weekend, the Met Office’s Global Guidance
Unit warns. It says maximum temperatures are likely to reach 50C in some
spots, with continued very high overnight temperatures.
BBC 18th May 2022
COP26: No countries have delivered on promise to improve climate plans.
COP26: No countries have delivered on promise to improve climate plans. In
Glasgow, 196 countries promised to “revisit and strengthen” their plans for
curbing emissions, but there is little sign of this happening before the
next talks in November.
Sebastian Mernild’s presentation pulled no
punches. As more than 40 countries met in Copenhagen last week to discuss
progress since 2021’s COP26 climate summit, the University of Southern
Denmark glaciologist greeted ministers with jagged red lines showing rising
global temperatures. He reminded them that emissions are still growing.
And he told them their goal of holding temperature rises to 1.5°C needs
nothing less than “rapid, deep and sustained” emissions cuts. “They
all know what we are facing scientifically regarding 1.5°C,” says
Mernild. Whether they are acting on that knowledge is another question.
Half a year on from a deal at COP26 in Glasgow, it is far from clear if
countries are delivering on the commitments they made. COP26 president Alok
Sharma said today that failure by world leaders to deliver on their pledges
would be a “monstrous act of self-harm”. Speaking in Glasgow, he said
he could understand why action to cut emissions had been pushed out of the
spotlight by the war in Ukraine and the cost-of-living crisis, but reminded
his audience that “climate change is a chronic danger” the world
couldn’t ignore.
New Scientist 16th May 2022
EU hits fast forward on renewables, including “massive deployment” of solar
Spurred by Russia’s invasion of Ukraine, European Commission unveils massive scaling-up and speeding-up of renewable energy, with solar as the “kingpin.” The post EU hits fast forward on renewables, including “massive deployment” of solar appeared first on RenewEconomy.
EU hits fast forward on renewables, including “massive deployment” of solar — RenewEconomy
U.S., allies may be planning Ukraine proxy war model for Myanmar — Anti-bellum
ReutersMay 17, 2022 Myanmar resistance urges West to provide arms for fight against junta The defence chief of Myanmar’s shadow government has called for international help to arm its resistance forces fighting the ruling military, requesting support similar to that being given to Ukrainians battling invading Russian troops. The people of Ukraine and Myanmar’s anti-government] […]
U.S., allies may be planning Ukraine proxy war model for Myanmar — Anti-bellum
1 This Month
19 November – Webinar – The Reality of Reprocessing
Time: 11:00 AM Pacific Time (US & Canada) / 2:00 PM Eastern / 7:00 PM UK / 8:00 PM CET
Register for the Zoom Event Here
Shut down the radiation-damaged Heysham nuclear reactors now
To see nuclear-related stories in greater depth and intensity – go to https://nuclearinformation.wordpress.com
Say No to NASA’s Reckless Nuclear Reactor on the Moon
Say No to NASA’s Reckless Nuclear Reactor on the Moon
-
Archives
- November 2026 (74)
- October 2026 (302)
- September 2026 (339)
- August 2026 (330)
- July 2026 (355)
- June 2026 (287)
- May 2026 (306)
- April 2026 (356)
- March 2026 (251)
- February 2026 (267)
- January 2026 (308)
- December 2025 (358)
-
Categories
- 1
- 1 NUCLEAR ISSUES
- business and costs
- climate change
- culture and arts
- ENERGY
- environment
- health
- history
- indigenous issues
- Legal
- marketing of nuclear
- media
- opposition to nuclear
- PERSONAL STORIES
- politics
- politics international
- Religion and ethics
- safety
- secrets,lies and civil liberties
- spinbuster
- technology
- Uranium
- wastes
- weapons and war
- Women
- 2 WORLD
- ACTION
- AFRICA
- Atrocities
- AUSTRALIA
- Christina's notes
- Christina's themes
- culture and arts
- Events
- Fuk 2022
- Fuk 2023
- Fukushima 2017
- Fukushima 2018
- fukushima 2019
- Fukushima 2020
- Fukushima 2021
- general
- global warming
- Humour (God we need it)
- Nuclear
- RARE EARTHS
- Reference
- resources – print
- Resources -audiovicual
- Weekly Newsletter
- World
- World Nuclear
- YouTube
-
RSS
Entries RSS
Comments RSS
