When a utility stock pays a dividend that yields 11 percent it is either an overlooked steal or the equity of a company with big problems–and a dividend that’s soon to be either eliminated or reduced. EDF, France’s state controlled nuclear energy giant, looks more the latter than the former. But never underestimate the determination of French politicians–right, left and center to protect and subsidize their civilian nuclear power establishment. To understand this byzantine story of French public and private partnerships, let’s start with EDF’s current stock price. It’s priced in Paris this morning at about €9.60, slightly above the 52 week low. And down from a high of €28.78 more than two years ago. To compound its woes, EDF’s stock sells at about 63 percent of its book value. This typically indicates the market’s view that either current earnings provide a below-cost-of-capital return or that investors don’t believe the assets are worth the value carried on EDF’s books. By way of contrast, a financially sound elec-tric utility in the U.S. sells at about 1.5 times its book value and its shares offer investors a yield of less than 4 percent.
Oil Price 13th Jan 2017 read more »
AN energy company has vowed to listen carefully to the community before drawing up proposals for a new power station at Bradwell. It was announced on Tuesday that the Government had asked nuclear regulators process of approving a Chinese-designed reactor for a new power plant. The China General Nuclear Power Corporation (CGN) and EDF Energy submitted a joint application to the Department of Business, Energy and Industrial Strategy in October last year. The Government has now asked nuclear regulators to begin the Generic Design Assessment (GDA) on the Chinese HPR1000 reactor known as Bradwell B. Miriam Lewis, leader of Maldon District Council, has praised the latest announcement. She said: “We welcome the news that the Government has confirmed that the Generic Design Assessment for the HPR1000 can begin for Bradwell. “In September 2016, the Secretary of State confirmed Government’s decision to proceed with Hinkley Point C, as part of a three-project deal including Sizewell and Bradwell. “Since then, we have been eagerly awaiting the start date for the GDA process to take us a step closer to major investment in the Maldon District, bringing good quality employment, training opportunities for our young people and prosperity into the future.”
Colchester Gazette 14th Jan 2017 read more »
Weʼre raising £5,000 to help us achieve our goals to Stop Nuclear Dumping in the Blackwater Estuary, Essex.
Mersea Island Environmental Alliance (accessed) 15th Jan 2017 read more »
The Magnox sites in the UK have now all moved into a phase of decommissioning, which begins with removal of the remaining spent fuel, referred to as “defueling”. Fuel is removed from the reactors and then stored on-site, a process lasting several years. As was the case in the generation phase, ultimately this fuel is transported off site in flasks to the Sellafield site in Cumbria for reprocessing. Once the fuel has been sent off site, 99% of the site’s radioactive inventory is removed. It is the most important hazard reduction activity on our reactor sites and a crucial step in the transition towards decommissioning.
NDA 13th Jan 2017 read more »
Radiation Free Lakeland have been given access to files relating to Springfields Nuclear Fuel plant near Preston. Shining a spotlight on Springfields is more important than ever with the Toshiba Westinghouse operation gearing up to produce “high burn” nuclear fuel for the much hyped “nuclear renaissance.” Have we so sold our souls to the nuclear industry’s sweet lies that we no longer care to look at the radioactive waste going into the river Ribble, Clifton Marsh landfill, the Irish Sea, the air and our DNA? This is from 1991 – nothing has changed apart from the accelerating and ever more entrenched nuclear juggernaught coming our way and the disbanding of Radmil the county council’s independent radiation monitors. From Lancashire Evening Post 1991: Lancashire County Council is to seek assurances that commercial considerations are not preventing lower radioactive discharges into the River Ribble. Council leader Coun Louise Ellman said emissions of radioactive waste from British Nuclear Fuels’ Springfields plant must be the lowest possible. She also called on BNFL not to pump increased amounts of radioactive waste into the Ribble.
Radiation Free Lakeland 14th Jan 2017 read more »
Harvey Wasserman: On one side is King CONG (Coal, Oil, Nukes, and Gas), the corporate megalith that’s unbalancing our weather and dominating our governments in the name of centralized, for-profit control of our economic future. On the other is a nonviolent grassroots campaign determined to reshape our power supply to operate in harmony with nature, to serve the communities and individuals who consume and increasingly produce that energy, and to build the foundation of a sustainable eco-democracy. The revolution has spread to the transportation sector, where electric cars are now plugging into outlets powered by solar panels on homes, offices, commercial buildings, and factories. Like nuclear power, the gas-driven automobile may be on its way to extinction. Nationwide, more than 200,000 Americans now work in the solar industry, including more than 75,000 in California alone. By contrast, only about 100,000 people work in the U.S. nuclear industry. Some 88,000 Americans now work in the wind industry, compared to about 83,000 in coal mines, with that number also dropping steadily. Once the shining hope of the corporate power industry, atomic energy’s demise represents more than just the failure of a technology. It’s the prime indicator of an epic shift away from corporate control of a grid-based energy supply, toward a green power web owned and operated by the public. As homeowners, building managers, factories, and communities develop an ever-firmer grip on a grassroots homegrown power supply, the arc of our 128-year energy war leans toward Solartopia.
Reader Supported News 14th Jan 2017 read more »
Trump’s ignorance of the life-destroying capabilities of nuclear weapons and his cavalier attitude towards their use should be extremely alarming to everyone, writes KATE HUDSON
Morning Star 14th Jan 2017 read more »
Ontario Power Generation was asked by the federal government to identify “actual locations” as alternates for its plan to bury nuclear waste. It’s now up to the minister as to whether they’ve done that.
Toronto Star 10th Jan 2017 read more »
Renewables – tidal
Britain’s west coast is facing a revolutionary change. If renewable energy advocates get their way, swaths of shoreline will soon be peppered with giant barrages designed to turn the power of the sea into electricity for our homes and factories. These tidal lagoons could supply more than 10% of the nation’s electricity, it is claimed. Last week former energy minister Charles Hendry published a review that strongly backed the construction of a £1.3 billion prototype lagoon in Swansea Bay. The trial project was a “no regrets option”, Hendry concluded. Not everyone is happy, however. Critics say the price tag is massive and compares with the huge cost of the highly controversial Hinkley C nuclear power station that was recently approved by Theresa May’s government. It would be better to wait for technological improvements in other renewable energy sources – in particular solar and wind – to be achieved and to use these as the backbone of Britain’s renewable energy generation, they argued. For their part, renewable energy experts say the Swansea Bay project should only be considered as the forerunner of a set of tidal lagoons whose individual costs would plummet as economies of scale kicked in. As Professor Paul Ekins, at University College London, put it: “One tidal lagoon is neither here nor there. They only make sense if they come as a fleet.”
Guardian 15th Jan 2017 read more »
With former Exxon CEO Rex Tillerson poised to lead US foreign policy, activists like Peter Willcox, skipper of the Rainbow Warrior, are needed more than ever. But are they losing their nerve?
Guardiam 14th Jan 2017 read more »
Green Investment Bank
A bidder for the Green Investment Bank (GIB) has launched a last-minute attempt to seize control of the state-owned eco-friendly lender. The government is weeks away from awarding Australian bank Macquarie the taxpayer-owned renewable energy lender in a deal worth £3.8bn. However, Jonathan Maxwell, chief executive of Sustainable Development Capital (SDC) has urged energy minister Nick Hurd to reject the Macquarie bid. He says his consortium, which includes the state-backed Pension Protection Fund (PPF), is the “best alternative” to meet the government’s goals for GIB, which was created in 2012 to kick-start Britain’s clean energy industry. SDC’s last-minute plea comes as ministers face calls to halt the sales process. Fears have been growing that Macquarie will “strip” GIB’s assets — the subject of a parliamentary debate last week.
Times 15th Jan 2017 read more »