News September 2008

30 September 2008

Terror

An international organisation aimed at preventing the theft of nuclear material from reactors around the world that could be used in a catastrophic terrorist attack was launched yesterday in Vienna. The independent World Institute for Nuclear Security (Wins) is initially funded by the US energy department; an American businessman, Peter Peterson, and the Norwegian government. It will seek to bring nuclear experts, governments and private companies together to improve security at nuclear facilities. Roger Howsley, the former head of security …

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29 September 2008

British Energy

M&G, which owns 5pc of the UK nuclear power generator and helped block EdF’s original offer, argues that the revised bid significantly undervalues British Energy. The investment group’s continuing opposition comes amid growing dissatisfaction about the UK Government’s role in the bid process and the takeover’s impact on competition. It is thought that M&G believes that the regulatory process may yet “spring a surprise”, possibly forcing EdF out of the deal and open the door to a merger with …

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28 September 2008

British Energy

EDF plans to build four new nuclear reactors in Britain at two of British Energy’s eight UK nuclear sites: Sizewell in Suffolk and Hinkley Point, Somerset. De Rivaz talks with pride about the nuclear future he envisages for Britain . “There is a real need for it … Security of energy supplies is very important because this is a country that used to be self-sufficient in fossil fuels and now it is totally dependent on supplies from abroad, he …

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27 September 2008

New Nukes

General Electric Co.’s nuclear venture with Hitachi Ltd. asked the U.K. to temporarily halt the process of assessing the company’s latest reactor design and will focus its efforts on getting U.S. approval instead. GE-Hitachi requested the suspension of the assessment of its so-called Economic Simplified Boiling Water Reactor and will now focus its resources on a design certification process.

Bloomberg 17th Sept 2008 more >>

Letter: EDF’s proposals to build four new reactors at Sizewell and Hinckley Point (report, …

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26 September 2008

British Energy

The EDF bid values the company at around 100 times its value in 2004, following the bail-out. So it would seem that the British taxpayer has bailed out the company so that the banks could take control of a majority of it. Then, the long-sufferering taxpayer has shouldered the cost of decommissioning the company’s worn-out reactors, a cost that could grow for generations. And now, through astronomical price rises in gas and electricity, they have handed the French power …

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25 September 2008

British Energy

Tony Woodley, trade unionist, left-wing firebrand and poster boy of anti-capitalism, stood up at this week’s Labour conference in Manchester and suggested that essential industries such as our power utilities be nationalised. Yesterday, the Labour Government did quite the opposite. It agreed to sell its last remaining substantial investment in the energy industry by offloading its stake in British Energy for £4.3bn.

Telegraph 25th Sept 2008 more >>

The UK government on Wednesday used the proposed £12.5bn sale of …

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24 September 2008

British Energy

French utility EDF launched a £12.5bn agreed takeover bid on power producer British Energy, helping to secure Britain’s nuclear future. EDF, the world’s biggest maker of nuclear energy, said it offered to pay 774p per British Energy share. As an alternative, EDF is also proposing to pay 700p in cash plus one nuclear power note, linked to BE’s future performance. ‘We are delighted that the British Energy Board has unanimously accepted this offer,’ said EDF Chairman Pierre Gadonneix. EDF …

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23 September 2008

New Nukes

John Hutton, business secretary, has vowed to take on critics of new coal and nuclear power stations, arguing that their construction was vital to securing Britain’s long-term energy needs. Addressing the Labour Party Conference in Manchester, the business secretary claimed that an international battle for energy security was emerging as one of the most significant threats to both UK competitiveness and national sovereignty.

Times 22nd Sept 2008 more >>

Guardian 23rd Sept 2008 more >>

Vnunet 22nd Sept

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22 September 2008

New Nukes

David Lowry: The problem with the Labour government is not the unpopularity of Gordon Brown, as measured by successive opinion polls, but the policies being pursued. Let me take one important example. Last Wednesday Gordon Brown held his monthly prime-ministerial press conference. The reports by the Guardian overlooked the fact that in the press conference launching the energy support package, Brown chose on no less than three occasions to praise nuclear power. He said: “I think people may have …

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22 September 2008

New Nukes

Industry Secretary John Hutton is set to take on opponents of new nuclear and coal-fired power stations, accusing them of putting Britain’s sovereignty and security at risk. Pushing ahead with a new generation of the controversial energy sources is essential if Britain is not only to survive the present economic crisis but emerge “stronger and fitter”, he will declare. Warning that the UK risks being 80% reliant on imported gas within 12 years otherwise, he will reject the objections …

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