New nukes
Gordon Brown is facing a growing rebellion from former loyalists who are speaking out for the first time on issues such as terrorist detention, abolition of the 10p income tax rate and, by implication, his leadership. A year ago, it would have been hard to imagine a Labour backbencher describing Mr Brown (known as the “Clunking Fist” and the “Iron Chancellor”) as a “scared rabbit” – the words of Ian Gibson MP this week. There is unhappiness about his enthusiasm for nuclear energy.
FT 16th April 2008 more >>
British Energy
Spanish utility giant Iberdrola yesterday indicated it would not table a bid for nuclear energy company British Energy unless the likely buying price falls. The company, which completed its takeover of ScottishPower last year, said it was determined to play a role in the expansion of the UK’s nuclear energy industry being promoted by the government. However, it said the bid prices of around 700p a share being discussed for the energy company, which has been linked with companies including Germany’s RWE, French company EDF and Britain’s Centrica, were too high.
Herald 16th April 2008 more >>
The Spanish utility company Iberdrola said today it is evaluating the opportunities within Britain’s nuclear industry but warned that any move would have to meet its strict rules about value creation for shareholders.
Guardian 16th April 2008 more >>
The potential foreign takeover of nuclear firm British Energy could send energy prices soaring, ministers were warned yesterday. Last night, the consumer group Energywatch said if a foreign company takes control, it would “almost certainly” lead to a rise in energy prices. Electricity prices have shot up by 70 per cent in the past three years, and the reduced competition resulting from the nuclear sell-off would lead to further price rises, Energywatch said.
Daily Mail 16th April 2008 more >>
The sale of British Energy should be made far more transparent given that it will prompt a “seismic change” in the energy sector, Alan Duncan has warned. The shadow business secretary said the public should be concerned about the lack of information being circulated about the negotiations between the listed nuclear power company – in which the government owns 35 per cent – and potential bidders.
FT 16th April 2008 more >>
Torness
THE SNP has claimed that nuclear power is “unreliable” after it emerged that a reactor at one of Scotland’s nuclear power stations has been shut down. Unit 1, one of two reactors at Torness power station, was manually shut down at midnight on Friday, 11 April. British Energy said it was a planned shut down to allow repairs to be carried out on the hydrogen cooling system on one of the main generators. The shutdown has halved output from the power station, which is in East Lothian. It follows the shutdown of two reactors at Hunterston B power station in Ayrshire, which have been off since early February.
Scotsman 16th April 2008 more >>
BBC 15th April 2008 more >>
Europe
The EU Energy Commissioner has stressed the important role of nuclear power in reducing carbon emissions.
EU Business 15th April 2008 more >>
The European Commission said it will examine ways to make investments in nuclear energy easier. At the European Nuclear Assembly conference here, energy commissioner Andris Piebalgs stressed the importance of nuclear energy for the reduction of carbon dioxide emissions. The commission said the European Union needs substantial investments to replace its ageing power plants. Several nuclear power plants will reach the end of their life span before 2030.
Interactive Investor 15th April 2008 more >>
North Korea
The US administration’s compromise deal with North Korea over the form of a nuclear declaration by Pyong yang is likely to come under close scrutiny on Capitol Hill. Chris Hill, the US negotiator on North Korea, last week briefed the House foreign relations committee on the tentative deal, which would eliminate the obligation for Pyongyang to reveal the full extent of its nuclear activities and pave the way for the next stage of the six-party talks.
FT 16th April 2008 more >>
UAE
The United Arab Emirates has approved plans to pursue a nuclear power programme, saying it would invest $100m in an agency that plans to make it the first Arab state to develop atomic energy.
FT 16th April 2008 more >>
US
A pair of nuclear reactors are to be built by the parent company of a Lancashire fuel manufacturer in the United States. The Shaw Group Inc, the partner of Westinghouse Electric Company which runs Springfields Fuels Ltd in Salwick, near Preston, has agreed a deal to build two AP1000 power plants in Waynesboro, near Augusta, Georgia, in a deal worth £4.5bn.
Lancashire Evening Post 15th April 2008 more >>
Companies
Iberdrola on Tuesday invited EdF to “put up or shut up”, two-and-a-half months after it emerged that the French power group had studied a joint bid for Spain’s biggest electricity generator with ACS, a Spanish construction company. Speaking ahead of Thursday’s annual general meeting in Bilbao, chairman and chief executive Ignacio Sánchez Galán said constant speculation about an offer by EdF amounted to “unfair competition”, a charge levelled at the French generator in a Spanish court.
FT 16th April 2008 more >>
