British Energy
British Energy has said it is talking to 10-plus’ possible partners about building more UK reactors. British Energy shares jumped 9% yesterday as the utility dogged by worries over ageing reactors was buoyed by the prospect of more UK nuclear development and partnerships with other European utilities. The four units at Hartlepool and Heysham 1 remain out of service following problems in the boiler units, and these will not be back until the second half of the next financial year.
Herald 14th Feb 2008 more >>
British Energy remains in talks with 10 potential partners for the construction of nuclear reactors and hopes to sign at least one deal in the
next few months. The nuclear energy group reported third-quarter results on Wednesday, which were hit by the unplanned closure of its Hartelpool and Heysham reactors. Possible partners are understood to include RWE and Eon of Germany, EDF of France and Centrica, owner of British Gas.
FT 14th Feb 2008 more >>
Recent rumours of a takeover or break-up of British Energy are exaggerated. The UK nuclear generator, with an enterprise value of £5bn, is still in effect controlled by the government. In return for taking on the long-term liabilities associated with decommissioning nuclear plants, the state has a call on BE’s net cash flows – 65 per cent from 2004 to 2007, and now 35 per cent. It can convert this right into equity at any point and could potentially block unwanted interest. Whether it would, though, is a moot point. While some potential suitors – Russia’s Gazprom, for example – would be politically less appealing than others, the UK government appears to feel sanguine about foreign ownership even of such strategic assets.
FT 15th Feb 2008 more >>
British Energy shares rose more than 6pc this morning after it confirmed that it is working on four deals to build new nuclear reactors in the UK. The nuclear power generator said the Government’s White Paper has allowed it to move forward with these partnerships.
Telegraph 15th Feb 2008 more >>
Russia
Vladimir Putin has delivered perhaps his most menacing tirade against the West yet, repeating threats to train nuclear missiles on Europe and warning of unspecified retaliation if Kosovo declared independence.
Telegraph 15th Feb 2008 more >>
Iran
Debate: Should US air strikes be used to stop Iran’s nuclear programme.
Scotsman 15th Feb 2008 more >>
India
India and Russia have signed a deal paving the way for the construction of four new nuclear power reactors at Kudankulam, Tamil Nadu, of a 1000 MW light water type usually known as VVER or WWER (Water-Water Energy Reactor).
Modern Power Systems 14th Feb 2008 more >>
Climate
Royal Dutch Shell has called for massive government intervention in the energy sector on a global scale in order to achieve reductions in greenhouse gases. Jeremy Bentham, Shell’s chief economist, said that politics and regulation are the key factors in cutting carbon dioxide emissions. The role of technology is key, but it is not a silver bullet and he predicted nuclear power would play a small role. Shell reckons that a carbon dioxide price of between €50 and €100 per tonne would drive investment in carbon capture and storage (CCS) schemes, essential to carbon emission reduction. Mr Bentham said that a CO2 price closer to €100 per tonne, more than four times the current price on Europe’s Emissions Trading System, will be needed to launch the initial CCS projects. Shell’s stark challenge to politicians emerged yesterday in the publication of its energy scenarios to 2050. Mr Bentham said that Shell was publicising its conclusion about the role of regulation because government action needed to be taken urgently. “The next five years are critical and will decide which path the world takes,” he said.
Times 15th Feb 2008 more >>
Radioactive Discharges
Scottish Government Statutory Guidance on the UK Strategy for Radioactive Discharges, February 2008 more >>
Solar Energy
The Solar America Initiative aims to bring down the cost of solar energy to make it competitive with conventional electricity sources in the U.S. by 2015.
USDoE Press Release 8th March 2007 more >>
This mean that solar electricity costs may well be about equal to or less than the cost of nuclear electricity by 2015, which is the earliest possible date at which a new nuclear plant could come on line in the United States – so there is a real risk that nuclear power plants will be economically obsolete before they are built.
Science for Democratic Action, January 2008. Vol15 No.2 more >>
