Predictions for 2012
The British government will surprise Europe by steadfastly moving ahead with support for construction of 17-19 GWe of new nuclear powered generating capacity by 2025. EDF will commit to building two Areva EPRs at Hinkley Point. RWE and E.on, two German utilities, will likely find investment capital to build Westinghouse AP1000s at Wylfa. One source of capital will be support from the German government with export credits.
The Energy Collective 27th Dec 2011 more >>
EDF has unveiled to investors the details of its agreement to acquire Edison, Italys second-biggest power provider, as the French utility takes the final steps in the long awaited takeover of the 4.4bn ($5.7bn) company. EDF wants to use Milan-headquartered Edison, whose main expertise lies in gas, to ramp up its own activities in the field. The French utility wants to diversify because it is heavily reliant on nuclear power, a sector that has come under intense scrutiny since the Fukushima atomic disaster in Japan this year.
FT 27th Dec 2011 more >>
Found in searches today: Judging by Henri Proglios sudden burst of public lobbying in defence of nuclear power over the past week, the chief executive of EDF is a worried man. As an ally of Nicolas Sarkozy, Frances president, and one of the most powerful figures in French business, Mr Proglio is used to getting his own way. But the prospect of a socialist victory in next springs presidential elections has left him rattled. Because the socialists have not yet given details on their nuclear cut, it is difficult to assess the likely financial impact on the company. There is also the chance of Mr Sarkozy, a skilled campaigner, winning the election or Mr Hollande watering down his policy once confronted with the realities of office. EDF is also planning substantial international investments as it lessens its reliance on France, not least in the UK, which is planning up to 12 new nuclear reactors. But even there the company is affected by the uncertainty over timing, spending and electricity pricing that afflicts the industry more so since Fukushima. Fundamentally, the question for EDF is whether the stock market is willing to wait all those years until these plants finally see the light of day, says Adam Dickens at HSBC. And the market will look at the track record of costs in the nuclear industry and realise it is mixed at best.
FT 14th Nov 2011 more >>
Several leading European electricity providers and nuclear power plant constructors now count as part of the collateral damage caused by the tsunami that destroyed the Japanese nuclear power plant of Fukushima last March. In reference to the German government’s decision to phase out nuclear power soon after the meltdown at the Fukushima Daiichi plant, Johannes Teyssen, CEO of E.ON, one of Germany’s leading electricity providers and power plant operators, warned the public that the industry’s balance sheet would be affected by “extraordinary costs caused by (these) market shifts and regulations”. While few of the corporations have publically acknowledged Fukushima as the major crack in the nuclear industry’s foundation, experts like Stefan Schurig, director of the climate energy for the World Future Council, are convinced that “Fukushima was one of the last nails in the coffin for nuclear energy”.
Al Jazeera 27th Dec 2011 more >>
STUDENTS are being encouraged to take part in a taster nuclear engineering course. The Smallpeice Trust is running a course at HMS Sultan in Gosport this year. It will give 50 students the chance to work alongside engineers.
Portsmouth News 28th Dec 2011 more >>
Fukushima Crisis updates 23rd – 26th Dec.
Greenpeace International 27th Dec 2011 more >>
The following is the gist of an interim report of a government panel investigating the Fukushima nuclear accident released on Dec. 26.
Asahi 27th Dec 2011 more >>
The darkest moments of the meltdown crisis at the Fukushima No. 1 nuclear plant, as revealed in an interim report by a government investigation panel published Monday.
Japan Times 27th Dec 2011 more >>
Tokyo Electric Power Co the vast Japanese energy business that owns and operated the Fukushima nuclear power plant has asked a government-backed bailout body for an additional £6bn to help compensate victims of the nuclear crisis that followed the March tsunami.
Guardian 27th Dec 2011 more >>
Tokyo Electric Power is facing increased pressure to accept nationalisation from the Japanese government amid a warning from one of its biggest lenders that state support would be a key condition for extending further loans.
FT 28th Dec 2011 more >>
Shares of Tokyo Electric Power Company (Tepco) fell on the Tokyo Stock Exchange on fears that the utility provider may be nationalised. It was the most actively traded stock on the bourse, falling 12% to 186 yen.
BBC 28th Dec 2011 more >>
Weapons-grade uranium is quietly being transported within Canada, and into the United States, in shipments the countrys nuclear watchdog wants to keep cloaked in secrecy. A confidential federal memo obtained through the Access to Information Act says at least one payload of spent, U.S.-origin highly enriched uranium fuel has already been moved stateside under a new Canada-U.S. deal.
Toronto Star 27th Dec 2011 more >>
NONE of the Scottish Government’s own buildings have achieved top energy efficiency ratings, prompting calls for Ministers to lead by example. Figures obtained by the LibDems showed that six of the Government’s 18 larger buildings, which account for 71% of the Government’s overall floor space, have been given the bottom two Energy Performance Certificate ratings. The certificate provides A to G ratings, with A being the most energy efficient and G the least.
Herald 27th Dec 2011 more >>
Wood stockpiles are at a record low because energy companies are buying up domestic supplies to burn in power stations. Britains push to increase the amount of green energy it generates has set off a scramble for domestically sourced timber. Manufacturers have warned that energy companies are pricing them out of the market. Timber prices have risen by 50 per cent in the past five years and Karl Morris, managing director for the European operations of Norbord, which makes panels to build houses, furniture and pallets, predicted that they would almost double in the next five years.
The Times 28th Dec 2011 more >>
Indias biggest industrial group is set to buy out BPs stake in an Indian solar power joint venture. Tata signed an agreement to buy the remaining 51 per cent of the Tata BP Solar venture in india, taking full control of Indias third-largest manufacturer of solar panels.
Times 28th Dec 2011 more >>