Companies

UK nuclear strategy faces meltdown as faults are found in identical French project

Monday, April 20, 2015

A “very serious” fault has been discovered in a French nuclear power station which is at the heart of David Cameron’s strategy to “keep the lights on” in Britain in the next decade.

The future of two nuclear reactors planned for Hinkley Point in Somerset has been thrown into doubt by the discovery of a potentially catastrophic mistake in the construction of an identical EPR power plant in Normandy.

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Rosatom woos EU with guaranteed low electricity price

Thursday, April 16, 2015

An official of Russian state nuclear firm Rosatom told a Brussels audience that his company could guarantee a levelized price for electricity of $50/MWh from new nuclear plants it builds, if the client chooses the firm's services for their lifecycle. According to EU policies, however, fuel supply should be diversified.

Speaking at an event organised by New Nuclear Watch Europe, Kirill Komarov, First Deputy CEO of Rosatom, said that his company was the only one able to guarantee a low price for electricity, if European countries chose the full package of its services.

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RWE CEO says no Urenco sale before H2, possibly later

Tuesday, March 10, 2015

ESSEN, Germany, March 10 (Reuters) - A sale of uranium enrichment company Urenco won't happen before the second half of 2015, RWE Chief Executive Peter Terium said, adding that a disposal could even take longer than that.

RWE and peer E.ON jointly hold one third of Urenco's shares, with the Dutch and British governments each owning a third, too.

Terium said the stake in Urenco was the last major item on the company's list of disposals.

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Areva warns of looming 4.9bn full-year loss as write-downs grow

Tuesday, February 24, 2015

Areva, the French nuclear group, on Monday issued its fifth profit warning in seven months, saying it expected to report a €4.9bn loss for 2014 as cost overruns ballooned on key European projects.

The annual net loss - due to be the largest the state-controlled group has ever recorded - comes as Areva works with the French government on the details of a state-backed rescue package, according to people familiar with the situation.

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Hungary-Russia nuclear deal faces EU obstacle

Monday, February 23, 2015

Hungary’s deal to award up to €12bn in nuclear power contracts to a Russian state-owned company is facing a growing threat from EU regulators who have the power to block the project.

A veto or prohibitive fine from Brussels would be a bruising setback for Viktor Orban, Hungary’s prime minister, who has made the project the centrepiece of his strategy to forge deeper political and economic ties with Russia, despite the ostracising of Moscow by the west over Ukraine.

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French energy minister wants new nuclear reactors

Friday, February 20, 2015

PARIS, Jan 13 (Reuters) - France should build a new generation of nuclear reactors to replace the country's ageing plants, Energy Minister Segolene Royal said on Tuesday, the first time a government member has clearly approved this option.

France, the country most reliant on nuclear power, must decide in the next few years whether to continue down the nuclear route as about half of its 58 reactors will reach their designed 40-year age limit in the 2020s.

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UK threatens to hit back at Austria over Hinkley Point legal challenge

Thursday, February 12, 2015

UK ministers are warning their Austrian counterparts that an arsenal of retaliatory measures will be launched if Vienna goes ahead with plans to challenge an EU state aid decision approving subsidies for new nuclear reactors at Hinkley point in Somerset.

A diplomatic cable from the Austrian embassy in London to Vienna, seen by the Guardian, says that the Foreign Office’s Europe director, Vijay Rangarajan, conveyed a message that “the UK will take in the future every opportunity to sue or damage Austria in areas that have strong internal political effects,” unless the lawsuit was dropped.

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Austria to launch lawsuit over Hinkley Point C nuclear subsidies

Wednesday, January 21, 2015

Austria is to launch a legal challenge against the European Union’s (EU) decision to allow billions of pounds of subsidies for Hinkley Point C, casting fresh doubt over the UK’s first planned nuclear reactors in 20 years.

In October, the EU approved the controversial £17.6bn subsidy deal for the power station, which is expected to provide 7% of the UK’s electricity by 2023. David Cameron had previously hailed the subsidy deal between the French state-owned EDF and the UK government as “a very big day for our country”.

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Global nuclear decommissioning cost seen underestimated, may spiral

Monday, January 19, 2015

LONDON/PARIS (Reuters) - German utility E.ON's breakup has led to worries that funds set aside for decommissioning reactors will not suffice, but globally the cost of unwinding nuclear is uncertain as estimates range widely.

As ageing first-generation reactors close, the true cost of decommissioning will be crucial for the future of the nuclear industry, already ailing following the 2011 Fukushima disaster and competition from cheap shale gas, falling oil prices and a flood of renewable energy from wind and solar.

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Signatures on engineer assessment of Turkey’s first nuclear plant forged: Report

Tuesday, January 13, 2015

The signatures of two nuclear engineers who prepared the environmental impact assessment report (ÇED) for Turkey’s prospective nuclear plant in Akkuyu were forged, ahead of the final approval of the mandatory document to allow the facility’s construction, daily BirGün reported Jan. 12.

The plant is scheduled to be built in the southeastern Mediterranean district of Akkuyu.

According to the report, an expert analysis carried out upon the demand of the Chamber of Turkish Engineers and Architects (TMMOB), which closely monitors legal procedures, has revealed that signatures were forged twice at different stages of the process.

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