British Energy
M&G, which owns 5pc of the UK nuclear power generator and helped block EdF’s original offer, argues that the revised bid significantly undervalues British Energy. The investment group’s continuing opposition comes amid growing dissatisfaction about the UK Government’s role in the bid process and the takeover’s impact on competition. It is thought that M&G believes that the regulatory process may yet “spring a surprise”, possibly forcing EdF out of the deal and open the door to a merger with Centrica, the owner of British Gas.
Telegraph 29th Sept 2008 more >>
New Nukes
Letter: The world really has moved on from the post Second World War era, when nuclear power was considered a panacea and the development of this technology was driven by both national pride and security concerns. Mr Mann uses emotive language and describes how wind farms are only there because they’re thrown generous government subsidies. However, the level of support being given to develop a renewables industry is only a fraction of that received in countries such as Germany, Denmark and the Netherlands. Or perhaps we should ask ourselves how much faster renewable energy schemes would be commissioned if they were to receive the enormous sums of research and development investment which the nuclear industry has received over the past half-century.
Herald 29th Sept 2008 more >>
THE first of a new generation of nuclear power stations will not be running until the end of the next decade according to the chief executive of one of the UK’s biggest energy companies. Dr Paul Golby, chief executive of E.ON UK, said the German-owned company was planning to build two nuclear power stations here with partners Areva and Siemens, the first of which would come online in 2020. Golby said the UK faced a “race to keep the lights on” as well as an end to cheap energy. He urged the Government to decide where the reactors would be built “sooner rather than later”.
Sunday Express 28th Sept 2008 more >>
India
The US House of Representatives has approved a landmark nuclear deal with India, removing one of two final obstacles to a foreign policy victory for the Bush administration. While the House approved the deal 298-117 on Saturday, it still faces a hurdle in the Senate. Several senators oppose the deal and could attempt to block a vote in the few days left before Congress recesses ahead of the November elections.
FT 29th Sept 2008 more >>
BBC 29th Sept 2008 more >>
Venezuala
Venezuelan President Hugo Chavez has announced that he wants to develop a nuclear programme with the aid of his country’s ally, Russia.
BBC 29th Sept 2008 more >>
Iran
The U.N. Security Council met on Saturday discuss a draft resolution that again orders Iran to halt nuclear enrichment work but imposes none of the new sanctions Washington and its allies want.
AFX 28th Sept 2008 more >>
Trident
The Ministry of Defence yesterday insisted safety lapses at nuclear bases posed no threat to the public or its staff. The Sunday Herald reported that 100 lapses were logged at Faslane and Coulport near Helensburgh between June 2006 and May last year – 40% higher than the previous year.
Herald 29th Sept 2008 more >>
Letter: A new nuclear arms race has been entirely predictable. The Russian announcement (The Herald, September 27) that they plan to upgrade their nuclear space defence and build new nuclear submarines armed with cruise missiles is what was expected in response to the US decision to install new “missile shield” bases in Poland and the Czech Republic. And part of this scenario is the Blair/Brown decision to initiate a Trident renewal programme, committing us to a nuclear weapons programme for another 50 years.
Herald 29th Sept 2008 more >>
