Companies

Belgian Doel 4 nuclear reactor closed till year-end

Thursday, August 14, 2014

PARIS, Aug 14 (Reuters) - Belgian energy company Electrabel said its Doel 4 nuclear reactor would stay offline at least until the end of this year after major damage to its turbine, with the cause confirmed as sabotage.

On Tuesday, Electrabel had said the plant would remain offline until Sept. 15 as it carried out repairs and investigated an oil leak that forced its closure on Aug. 5. Its French parent company GDF Suez confirmed the closure was due to sabotage.

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Areva's stock plunges on sales warning

Sunday, August 3, 2014

PARIS, Aug 1 (Reuters) - Shares in French nuclear power group Areva closed 20 percent lower on Friday, the worst fall since the company was formed in 2001, as it posted a first-half loss, exited a thermal solar power business and cut sales targets.

The shares were down by as much as 23 percent earlier in the session with trading the busiest by volume since late February, when Areva posted a net loss of nearly half a billion euros.

Chief Executive Luc Oursel dropped a long-held target to sell 10 nuclear reactors by 2016, saying it would "take a few more years" and the firm warned that 2014 revenue would fall 10 percent, more than the 2-5 percent decline forecast in February.

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Bulgaria signs nuclear deal with Westinghouse

Friday, August 1, 2014

SOFIA, Aug 1 (Reuters) - Bulgaria, one of five EU states that depend totally on Russia for nuclear fuel, and Westinghouse Electric Company signed a shareholder agreement on Friday paving the way for construction of a new nuclear reactor estimated to cost $5 billion.

The deal, which still requires the approval of Bulgaria's next government, will help the Balkan country reduce its energy dependence on Russia at a time of increased tensions between Moscow and the European Union over Ukraine.

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The EU's nuclear links with Russia

Monday, July 28, 2014

The EU has 18 Russian-designed nuclear power plants

Following the loss of the Malaysian airliner last week, European leaders are once again wrestling with the question of how to respond to Russia over its role in the Ukraine crisis.

They are reluctant to get tough, much more so than the United States.

The EU could easily end up doing itself a lot of economic harm, most obviously if Russia were to respond by turning down the gas.

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Cernavoda 3&4 construction back on after Candu Energy signs cooperation deal with Chinese state company

Monday, July 28, 2014

SNC Lavalin subsidiary Candu Energy has signed a 'binding and exclusive' contract with China Nuclear Power Engineering Company, Ltd. (CNPEC) for the construction of CANDU Units 3 and 4 at the Cernavoda Nuclear Power Plant in Romania in Vancouver. The agreement was witnessed by senior representatives of China's National Energy Administration and Natural Resources Canada.

This agreement follows a letter of intent signed by CNPEC's parent company China General Nuclear Power Group (CGN) and Romanian utility Societatea Nationala Nuclearelectrica (SNN) in November 2013 for investment in and development of two additional nuclear units at the Cernavoda site.

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Safety alert shuts down Torness nuclear reactor

Wednesday, July 2, 2014

A nuclear reactor at Torness power plant has been shut down after a safety alert was triggered.

The incident at the plant, which is one of Scotland’s main power stations, happened just weeks after £30 million was spent on the same reactor to get it back online.

The shutdown means the power station is now only pumping out around a quarter of the energy it usually produces as the second reactor is currently working at a reduced capacity ahead of scheduled maintenance work.

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UK nuclear clean-up bill rises by £6.6bn

Monday, June 23, 2014

The bill faced by taxpayers for the clean-up of Sellafield and Britain’s other nuclear sites will be £6.6bn more than previously thought, in a sign of the challenges the country faces in dealing with its atomic legacy.

The Nuclear Decommissioning Authority said it had raised its best estimate for the undiscounted cost of the clean-up over the next 120 years to £110bn, a 7 per cent increase, with Sellafield alone accounting for £79.1bn of that. It also raised its total discounted estimate of the costs by 10 per cent to £64.9bn.

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Sberbank to Lend $1.1 Billion to Slovakia's Largest Power Company

Wednesday, June 11, 2014

Slovensko Elektrarne Will Have to Buy Russian Nuclear Exports

MOSCOW—Russia's largest lender Sberbank (SBER.MZ +0.11%) has agreed to provide a loan of €870 million ($1.18 billion) to Slovenske Elektrarne, some of which Slovakia's largest power company will have to spend on Russian nuclear exports, the companies said Tuesday.

The deal signed Monday follows a memorandum of understanding the two parties sealed at an international business forum in St. Petersburg in May, which came against a backdrop of cooling relations between Russia and the West over Ukraine crisis.

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German power generators Looking for lifelines

Tuesday, June 10, 2014

Embattled E.ON and RWE turn to the government and the courts for help

Jun 7th 2014, BERLIN - RECENT years have brought little but bad news for Germany’s power generators. Having overinvested in gas- and coal-fired plants before the financial crisis, the two largest, E.ON and RWE, ended up with excess capacity in the ensuing downturn—just as lavish subsidies to wind- and solar-power producers were bringing a host of new competitors to the market. After the nuclear accident at Fukushima in Japan in 2011, the German government decided that all nuclear plants in the country must close by 2022, bringing forward the huge costs of decommissioning them. To cap it all, ever more industrial consumers of electricity have gone “off the grid”, generating their own power. Shares in the two power giants have fallen by almost half in the past five years, whereas Germany’s DAX stockmarket index has almost doubled in that time (see chart).

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Russia to Help Kazakhstan Build Nuclear Power Plant

Friday, May 30, 2014

ASTANA, May 29 (RIA Novosti) – Russia and Kazakhstan have signed a memorandum on the construction of a nuclear power plant in Kazakhstan during a Supreme Eurasian Economic Council session in Astana on Thursday.

The agreement was signed by nuclear corporations Rosatom and Kazatomprom in the presence of Russian President Vladimir Putin and his Kazakh counterpart Nursultan Nazarbayev.

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