PARIS, Feb 12 (Reuters) - French utility EDF is expected cut more costs, sell assets and scale back investment as the state-controlled group struggles with a cap on electricity prices and heavy debts.
When EDF reports 2012 earnings on Thursday, analysts predict the world's largest single operator of nuclear plants is likely to embark on a one billion euro cost-cutting plan, on top of 2.5 billion euros ($3.34 billion) of cuts begun in 2011.
EDF is aiming to complete negotiations with the UK government over new nuclear Contracts for Difference (CfDs) by the end of the first quarter of 2013, it confirmed today. The French-owned firm plans to make an investment decision on Hinkley Point C "as soon as possible" after that.
At its annual results presentation, chief executive Henri Proglio said EDF was seeking a 40-year contract for Hinkley Point C. Potential partners had come forward but nothing would be agreed until the contracts were in place and approved by Brussels.
Feb 11 (Reuters) - Commercial production at Finnish nuclear reactor Olkiluoto 3 is likely to be delayed until 2016, utility Teollisuuden Voima (TVO) warned on Monday, the latest setback in plans for the country's fifth such plant.
TVO said there had been delays in planning the plant's automation system and that it had not yet received proper schedule updates from consortium Areva-Siemens , which is building the reactor.
Electricite de France SA’s chief executive officer said he’s willing to join Centrica (CNA) Plc in walking away from building the U.K.’s first reactors in two decades unless the government ensures the project is profitable.
“We won’t do it” if if the price for their power isn’t high enough, CEO Henri Proglio said in an interview in Bure, eastern France. “I won’t qualify myself as confident, but rather conscious that an agreement can be reached” on prices.
Prague, Feb 4 (CTK) - French nuclear firm Areva has appealed a decision of the Czech antitrust office UOHS which in January turned down its request to suspend the tender to complete the nuclear power plant Temelin, the firm told CTK in a press release Monday.
The energy group CEZ, Temelin's operator, excluded Areva from the tender for the expansion of Temelin, which is located in south Bohemia near the Austrian border, in October.
Areva, however, is trying to return to the tender process.
Areva said it requires and insists on suspending the current stage of the Temelin tender so that it may effectively protect its rights and interests.
LONDON (Reuters) - Utility Centrica has pulled out of plans to build new nuclear power stations in Britain with partner EDF, paving the way for Chinese investors to enter the UK market through a partnership with the French firm.
Centrica said it had decided to waive an option of taking a 20 percent stake in four new reactors - two at Hinkley Point in Somerset and two at Sizewell in Suffolk.
Centrica's decision was largely expected, but it casts some doubt on the UK government's plan to attract investment to revive the nuclear industry.
The construction of two new reactors at Mochovce nuclear plant by Enel SpA’s Slovak unit will cost more than planned and will be delayed by two years, Sme reported, citing Economy Minister Tomas Malatinsky.
The project is set to be completed by 2015, compared with the original deadline of 2013, while costs are expected to rise to 3.7 billion euros ($5 billion) from the originally estimated 2.8 billion euros, the newspaper quoted Malatinsky as saying.
Bulgarians are set to vote in a referendum on whether a new nuclear power plant should be built.
The opposition Socialist party called the vote because it wants the government to reverse its decision not to build a new plant at Belene.
The first referendum in Bulgaria's post-Communist history has polarised opinion and is seen as a precursor of general elections later this year.
In Poland work is under way at locating the best site for what will be the country’s first nuclear power plant.
Industrial Info reports that state owned Polska Grupa Energetyczna SA has awarded the site characterisation, licensing and permitting services contract for the plant to the WorleyParsons consortium. The contract is valued at $81.5m and will run for more than two years.
Nuclear power plant
The Polish government intends to eventually generate 3,000 MW of electricity through nuclear power, as it attempts to reduce reliance on Russian oil and gas imports.
LONDON (MarketWatch) -- Toshiba Corp. is weighing plans to bid for Urenco, the nuclear fuel producer backed by the U.K., the Netherlands and two German energy giants, the Sunday Times reports without citing sources.
The newspaper says the Japanese industrial giant, which owns the nuclear reactor builder Westinghouse Electric, wants to bid for the business if and when it comes on the market.
Urenco, which enriches uranium for nuclear fuel, is owned by the U.K. and Dutch governments and German firms RWE A.G. and E.ON S.E., who own a third each.
