British Energy
British Energy, which has been at the centre of intense takeover speculation for several months, said this morning that it remained in advanced talks with a potential bidder. The company did not name its suitor but it has been an open secret that it is France’s state controlled EDF. Last month EDF and British Energy came within a whisker of agreeing terms but the move failed when two key shareholders said a 765p bid would not be enough. This threw the government’s plans to construct a new generation of nuclear power stations into confusion.
Guardian 13th Aug 2008 more >>
British Energy, which this month saw France’s EdF break off takeover talks after objections by the nuclear power producer’s investors, said it was in advanced negotiations regarding a potential offer as it reported that first-quarter profits more than halved to £101m on revenue down 6pc at £629m. The company added that it remained well positioned to play a key role in the building of new nuclear power stations.
Telegraph 13th Aug 2008 more >>
It also emerged today that the Government will take no money out of the nuclear generator this quarter, because of the sharp fall in profits. The Government is entitled to 35 per cent of the free cash flow from the generator, following its bail-out of the company in 2002, and received £134 million in the same quarter last year. The cash is put into the Nuclear Liabilities Fund to pay for future decommissioning of nuclear plants. British Energy gave warning today that bringing its Hartlepool and Heysham 1 reactors back into service will cost an extra £65 million, bringing the total bill to £115 million in this financial year.
Times 13th Aug 2008 more >>
New nukes
Letter: The technologies to find sufficient energy to replace oil in the longer term are not nearly well enough developed and we will need energy supplies such as coal and nuclear as interim sources to enable us to bridge the gap between declining oil and gas and future technologies such as wind, wave and tidal, geothermal, biomass, hydrogen and others.
Herald 13th Aug 2008 more >>
The popular expression “beggars can’t be choosers” applies very well to our relationship with nuclear power. We consume fossil fuels like they’re going out of fashion (if we could turn oil into a fizzy drink so that we could drink it we would, but it sticks to your teeth something rotten). And as for our recent shotgun marriage with renewable energy, I think one can safely say it remains unconsummated and is not likely to bear offspring any time soon.
Telegraph 13th Aug 2008 more >>
Nuclear Skills
Skill shortages in the nuclear industry due to the industry’s ageing workforce could lead to government plans for new power stations being delayed, the Health and Safety Executive (HSE) has warned. Despite the opening of a nuclear skills academy in Cumbria and new plans for a National Nuclear Laboratory, concerns have been raised over the capacity of the UK to deliver and regulate the PM’s preferred energy source. The HSE is charging the firms £15m, which is non-refundable, to evaluate their initial proposals through generic design assessments (GDA). The GDA process is likely to take at least three years, with technical plans assessed before licences for specific sites are considered.
Public Servant Daily 12th Aug 2008 more >>
Nuclear vs Wind
A detailed cost comparison of nuclear versus wind energy shows that nuclear energy will soon no longer be cost competitive with wind energy if present trends continue. While nuclear energy is regarded as one of the cheapest sources of power available — given the enormous amount of energy released from the splitting of atoms — and wind is considered relatively expensive, analysis of a number of current projects using publicly available data indicates that wind energy has closed the gap in price per kilowatt.
SolveClimate 11th Aug 2008 more >>
Heysham
A LONE photographer taking snaps of Heysham Power Stations spurred armed police into action on Friday evening. Officers from the Civil Nuclear Constabulary, who patrol the perimeter of the nuclear plant, were alerted to the snapper who was pointing a camera towards the site from the north quay.
Morecambe Visitor 13th Aug 2008 more >>
Brazil
On Thursday, July 31, Brazilian authorities gave the final go ahead to the civilian nuclear power company, Eletronuclear, to continue construction of the country’s third nuclear power plant. Though the decision to revitalize the 22-year-old nuclear reactor, Angra 3, came late last year, plans were finalized in July by the government’s environmental regulatory agency. Eletronuclear, a subsidiary of the state-owned energy firm Eletrobr s, plans to begin construction in February.
Brazzil.com 13th Aug 2008 more >>
Eastern Europe
Mini-nuclear power plant developer Hyperion Power Generation has received a letter of intent from the TES Group for the purchase of the Hyperion Power Module, a compact, transportable nuclear power reactor. The intention to purchase up to six units for various projects, at approximately $25 million each, was placed by the TES Group, an investment company focusing on the energy sector in central-eastern Europe.
Energy Business Review 12th Aug 2008 more >>
Slovakia
Slovakia is worried power generator Slovenske Elektrarne (SE) may be late finishing a second nuclear power plant, a delay which could damage the economy, Prime Minister Robert Fico said in remarks carried by a newspaper on Tuesday. Fico asked SE, 66-percent owned by Italy’s utility Enel , to present a detailed timetable of work on the two 440 MW blocks at the Mochovce nuclear plant, which should be completed in 2012-2013 at a cost of 1.6 billion euros. ‘The government is looking at this project with some concern, regarding the timetable,’ the daily Sme (www.sme.sk) quoted Fico as saying. ‘Every single month of delaying the completion of the third and fourth blocks will cause more and more complications to Slovakia,’ he said after visiting Mochovce with SE officials. Slovakia depends heavily on nuclear energy and its two plants produced 57 percent of its electricity in 2007.
Money AM 12th Aug 2008 more >>
Companies
The Babcock & Wilcox Company, a subsidiary of McDermott International, has announced that its affiliate has entered into a definitive agreement to acquire Nuclear Fuel Services, a provider of nuclear fuels and related services.
Energy Business Review 12th Aug 2008 more >>
GOVERNMENT plans to build a new generation of nuclear power stations could provide a further boost to the fortunes of Weir Group.
Scotsman 13th Aug 2008 more >>
