New nukes
Having won plaudits from the nuclear lobby for planning to keep nuclear as a generator of 20pc of Britain’s energy, the Government now faces the tricky manoeuvre of ensuring the plan unfolds as it wants, even though it has said it will leave matters to the private sector. In order to maintain nuclear at the 20pc level, Britain’s ageing fleet of 12 reactors across the country must be replaced. To reduce the risk of mistakes and power shortage, the Government is keen for the business to be spread among a number of utilities.
It wants them in turn to partner several nuclear engineering companies to ensure Britain is not relying on one reactor design for all of its power stations. As the lobbying for a slice of the business begins, the company that finds itself holding many of the cards is British Energy. The company runs eight of the existing nuclear reactors and is the UK’s largest producer of electricity. But it lacks the financial fire power to be a significant partner in the funding of the new reactors. It does, however, own the land on which they will be built, making it the partner that major utility companies are keen to woo. They include France’s EDF, Germany’s E.ON, which owns Powergen, and RWE, which owns npower.
Telegraph 14th Nov 2006
Trident
Seven anti-nuclear protesters have been arrested for breach of the peace as campaigners from Wales joined a protest at Faslane naval base in Scotland.
BBC 13th Nov 2006
TWO defiant Fylde pensioners were arrested after taking part in a demonstration against nuclear weapons.
Blackpool Today 13th Nov 2006
Terror
Al-Qaida is determined to acquire the technology to carry out a nuclear attack on the West, a senior Foreign Office official warned yesterday. The official said that Osama bin Laden’s terrorist network was actively trawling the world for the materials and know-how to mount an attack using nuclear, chemical or biological weapons.
Yorkshire Post 14th Nov 2006
Scotsman 14th Nov 2006
Guardian 14th Nov 2006
Reuters 13th Nov 2006
Companies
GE and Hitachi have signed a letter of intent to create a global alliance to combine and strengthen their nuclear power plant and services businesses. Under the terms of the alliance, the two companies will work to strengthen their existing operations, accelerate the development of new products and services, and position the alliance for growth in the nuclear energy industry.
Energy Business Review 14th Nov 2006
FT 14th Nov 2006
BBC 13th Nov 2006
General Electric Co. expects its revenue from nuclear reactors to triple, to about $3 billion, by 2008 or 2009, the head of GE’s nuclear business said on Monday. Strong demand from the United States, India and China will drive that growth, said Andy White, president and chief executive of GE Energy’s nuclear business.
Reuters 13th Nov 2006
AMEC rejected a £1.5 billion bid from two American investment groups yesterday, saying that the price was too low and that it was not clear that Texas Pacific and First Reserve Corporation could develop the business.
Times 14th Nov 2006
Guardian 14th Nov 2006
If, or when, Scottish Power becomes the latest UK energy asset to be bought by an overseas company the transfer of ownership and control to another country will pass with barely a word of concern from the authorities. The Government, along with the City, have long since given up worrying about who owns British industry. Concepts such as “economic patriotism” are as alien as, well… aliens.
Telegraph 14th Nov 2006
Iran
The White House rebuffed mounting calls to hold direct talks with Iran, standing by its view that Tehran must first suspend sensitive nuclear activities.
Interactive Investor 13th Nov 2006
Iran has asked the United Nations’ International Atomic Energy Agency (IAEA) to help in the construction of a heavy water reactor for research purposes, despite calls for a freeze on the nuclear programme, diplomats told Agence France-Presse.
Interactive Investor 13th Nov 2006
