Nuclear Finance
The Economics of New Nuclear Build at Sellafield. Presentation by Ian Jackson.
Slide Share 7th July 2009 more >>
Public sentiment toward building nuclear plants in the United States may be thawing, but from a credit perspective, a nuclear buildout will mean lower ratings. In a June 2009 infrastructure finance report, Moody’s said companies pursuing new nuclear plants, which are costly and take years to build, have done little other than file construction and licensing applications with the NRC. “We view new nuclear generation plans as a ‘bet the farm’ endeavor for most companies, due to the size of the investment and length of time needed to build a nuclear power facility,” wrote senior analyst Jim Hempstead. “While we continue to view operating nuclear units positively, we increasingly sense that none of the issuers actively pursuing these endeavors have taken any material actions to strengthen their balance sheets.”
SNL 10th July 2009 more >>
Dungeness
The Dungeness B21 nuclear reactor in southeast Britain was taken out of service for planned maintenance that takes place every three years, a spokesman from operator British Energy said on Friday.
Reuters 10th July 2009 more >>
EoN
Paul Golby is frustrated. He doesn’t actually say so, but the measured tones of E.on’s UK chief executive have a note of exasperation. “We are a ‘no’ society: ‘no’ to coal, ‘no’ to nuclear, ‘no’ to wind turbines. But then how do we keep the lights on?” the 58-year-old former engineer asks. Part of the answer is nuclear. Eon has teamed up with RWE to build 6 gigawatts of capacity, with the first two plants expected by 2020. But to scale the nuclear sector up from state-owned dirty secret to shiny commercial mainstay of the green future requires a series of tightly choreographed steps from both government and industry, with little room to manoeuvre. “It is possible, but there isn’t much slack,” Dr Golby says.
Independent 11th July 2009 more >>
Iran
President Barack Obama on Friday warned Iran that the world will take “further steps” against the Tehran regime if it fails to begin negotiating over the future of its nuclear weapons programme later this year. Mr Obama told a G8 press conference that the meeting of world leaders had never had any intention of imposing a new raft of sanctions on Iran, as some media reports have suggested.
FT 11th July 2009 more >>
India
French nuclear reactor maker Areva announced new development plans for India on Friday, including a proposal to build new state-of-the-art EPR reactors and an engineering pact with conglomerate Tata. State-controlled Areva said it had submitted a bid to Indian utility NPCIL to design and build two EPR nuclear reactors, each with an output in excess of 1,600 megawatts.
Interactive Investor 10th July 2009 more >>
Netherlands
German utility RWE cannot acquire Essent’s 50 percent stake in the Netherland’s only nuclear power plant, a Dutch court ruled on Friday, saying the stake would have to remain in public hands. RWE had intended to take over the stake in the Borssele plant as part of its 8.2 billion euro ($11.4 billion) takeover of Essent. However, Dutch utility Delta, Essent’s partner in the plant, opposed RWE’s acquisition of the stake, arguing that the statutes governing the partnership between Essent and Delta stipulated it could not be sold to a listed company.
Interactive Investor 10th July 2009 more >>
Argus Media 10th July 2009 more >>
US
US nuclear utilities have written to Energy Secretary Steven Chu asking him why they should continue paying some $770 million annually towards the Yucca Mountain waste repository since the project has now been scrapped and no alternative has yet been proposed.
World Nuclear News 10th July 2009 more >>
Italy
The adoption of new energy legislation in Italy means the official end of anti-nuclear policies. Planning for new reactors can now begin in earnest.
World Nuclear News 10th July 2009 more >>
Nuclear Engineering International 10th July 2009 more >>
Libya
British Prime Minister Gordon Brown said Friday that Libya’s renunciation of weapons of mass destruction (WMD) offered an “important lesson” amid fears over North Korea and Iran’s nuclear ambitions. Brown was speaking to reporters at the G8 summit after his first meeting with Libyan leader Moamer Gathafi.
Middle East Online 10th July 2009 more >>
Jordan
Jordan’s nuclear power has a capacity to generate 60% of its energy by 2035, with plans in place to set up two additional nuclear reactors in the central region, The Jordan Times reported. Presently, Jordan Atomic Energy Commission (JAEC) is evaluating the potential sites for Jordan’s third and fourth nuclear reactors which are to be constructed within next 30 years. The two plants are expected to generate between 1,000-1,600 megawatts (MW) of electricity each.
Energy Business Review 9th July 2009 more >>
Disarmament
The government is prepared to cut Britain’s nuclear arsenal in return for Iran’s promise to scrap its nuclear weapon plans, Gordon Brown announced yesterday. The prime minister said that global non-proliferation action will be taken when countries like Iran and Korea abandon their plans to build nuclear weapons.
Politics.co.uk 10th July 2009 more >>
Mirror 10th July 2009 more >>
Daily Record 10th July 2009 more >>
Letter from Kate Hudson: Gordon Brown’s statement on the potential for nuclear reductions is to be welcomed (Talks could lead to cut in UK’s nuclear stockpile, says Gordon Brown, 10 July). But given President Obama’s aim for rapid progress on disarmament, it calls in to question even more acutely the decisions and consequent spending commitments due to be made by ministers in the coming months.
Guardian 11th July 2009 more >>
Renewables
A huge expansion of renewable energy will be launched by the government next week, when it sets out its plans for meeting its commitments to cut carbon dioxide emissions. The plans have raised concerns about their cost, estimated at least 100bn ($162bn), which will push up energy bills, hitting poor and vulnerable consumers. Proposals have also been criticised by some companies and campaign groups as insufficiently radical.
FT 11th July 2009 more >>
Times 11th July 2009 more >>
Telegraph 11th July 2009 more >>
