Nuclear power in Europe

BERLIN, Feb 12, 2010 (IPS) – The enormous technical and financial risks involved in the construction and operation of new nuclear power plants make them prohibitive for private investors, rebutting the thesis of a renaissance in nuclear energy, say several independent European studies.

The risks include high construction costs, likely long delays in building, extended periods of depreciation of equipment inherent to the construction and operation of new power plants and the lack of guarantees for prices of electricity. (more…)

The European Union is heading for a clash with other major economies over the timetable for building an experimental fusion reactor.

European governments want to slow down construction of the International Thermonuclear Experimental Reactor (ITER) because they are paying for the bulk of the construction costs and are concerned that the budget is spiralling out of control. Other countries involved in the ITER project are, however, strongly opposed to any kind of delay. (more…)

One day after German utility RWE said that it was pulling out of the proposed Bulgarian nuclear power plant at Belene, Russia’s state-owned nuclear corporation Rosatom said that it was still interested in taking a stake in the project, Russian business daily Vedomosti said on October 29.

Rosatom’s interest in the plant, announced earlier by chief executive Sergey Kirienko, remained unchanged by RWE’s announcement, Vedomosti quoted a company spokesperson as saying. The spokesperson did not provide further details, the newspaper said. (more…)

FRANKFURT (Dow Jones) – German utility RWE AG Wednesday said it has terminated a joint venture agreement with Bulgaria’s state-owned National Electricity Co., or NEK, due to problems with the financing of a nuclear power plant that was planned to be built near the town of Belene.

“We have terminated the joint venture agreement with NEK today because of problems financing the project,” said Stephanie Schunck, spokeswoman for RWE’s power generation unit RWE Power. (more…)

Although the information hasn’t made front page headlines yet, the biggest behind-the-scenes swarm of lobbyists is now hovering over the construction of two additional reactors at the Temelín nuclear plant. The actual deal looks “somewhat” different. The state-owned energy giant ČEZ is looking to secure five nuclear reactors: two for Temelín and another three for power plants that the energy company plans to build abroad, altogether, a contract worth CZK 500 billion. It’s a gigantic tender, the biggest in Czech history. (more…)

Government officials have drawn up secret plans to tax electricity consumers to subsidise the construction of the UK’s first new nuclear reactors for more than 20 years, the Guardian has learned.

The planned levy on household bills would add £44 to an annual electricity bill of £500 and contradicts repeated promises by ministers that the nuclear industry would no longer benefit from public subsidies. There is mounting pressure on the power industry to show it can keep the lights on, with fears growing of an energy gap as ageing nuclear stations are retired and plans for new coal plants attract hostile protests. (more…)

EDF is hoping to secure a multi-billion euro windfall by extending the lifecycle of its nuclear power stations. This could prove crucial to maintaining its top grade credit rating as it invests billlions in acquisitions and plant renewal.

The energy group this week set out in detail the costs and expected gains from the planned investment in its 58 nuclear power stations that could enable it to run reactors for up to 60 years, against the current lifecycle of 40 years. (more…)

European energy markets are likely to have a difficult wake-up once the recession is over if essential infrastructure investments are delayed, consultancy firm Capgemini said Monday.

“The credit crunch should short-circuit the investment cycle, leading to a lack of generation capacities and infrastructures,” it said in its tenth European Energy Markets Observatory report. (more…)

PARIS, Nov 24 (Reuters) – French atomic energy firms may be over-confident when they say their plans to expand abroad will survive the credit crisis unscathed.

Some analysts say financing problems, if prolonged, are bound to delay schemes in a sector with such high capital costs.

France hopes to use its unrivalled atomic expertise to lead a global nuclear revival spurred by rising fossil fuel prices and concerns over climate change. Its firms may even benefit as a slowing economy lowers costs for current building in France. (more…)

Bulgaria’s sole nuclear power plant at Kozloduy on the Danube River said on November 14 that it paid back early a $52.5 million loan to Russia’s state-owned Roseximbank, which it took to upgrade its two working 1000MW reactors.

The reason for the early repayment of the loan, due in 2021, was avoiding currency risks, the plant said, as quoted by website mediapool.bg. The loan was denominated in US dollars, while its revenue was in leva and euro, the plant operator said. (more…)