15 September 2016, Energy Post, UK government approves Hinkley Point C. The UK Department of Business, Energy and Industrial Strategy announced this morning that the government goes ahead with the Hinkley Point C nuclear power project. This is a very important decision for the nuclear energy sector in Europe, especially EDF, and energy policy in general. Below we give the literal text of the press release put out by the UK Department of Business, Energy and Industrial Strategy, explaining that the government is taking extra precautions to ensure that it is able at all times to control its nuclear industry, after concerns about the Chinese involvement in the project. There is no change in the “strike price” of 92.50 pounds per MWh (inflation-proof, 35 years) that has been agreed with builders EDF, which has been criticized by many as too expensive. “Following a comprehensive review of the Hinkley Point C project, and a revised agreement with EDF, the Government has decided to proceed with the first new nuclear power station for a generation. However, ministers will impose a new legal framework for future foreign investment in Britain’s critical infrastructure, which will include nuclear energy and apply after Hinkley. The agreement in principle with EDF means that: The Government will be able to prevent the sale of EDF’s controlling stake prior to the completion of construction, without the prior notification and agreement of ministers. This agreement will be confirmed in an exchange of letters between the Government and EDF. Existing legal powers, and the new legal framework, will mean that the Government is able to intervene in the sale of EDF’s stake once Hinkley is operational. The new legal framework for future foreign investment in British critical infrastructure will mean that: After Hinkley, the British Government will take a special share in all future nuclear new build projects. This will ensure that significant stakes cannot be sold without the Government’s knowledge or consent. Read More here
Tag Archives: nuclear
29 July 2016, Climate News Network, UK’s nuclear ‘white elephant’ stumbles. Celebrations by the nuclear industry planned for today have been cancelled following the shock decision by Britain to put the world’s largest electricity project on hold. The British government astonished the nuclear industry late last night by refusing to go ahead with plans to build the world’s largest nuclear plant until it has reviewed every aspect of the project. The decision was announced hours after a bruising meeting of the board of the giant French energy company EDF, at which directors decided by 10 votes to seven to go ahead with the building of two 1,600 megawatt reactors at Hinkley Point in Somerset, southwest England. One director, Gerard Magnin, had already resigned in protest before the meeting, saying the project was “very risky”. All six union members, who are worker directors, said they were going to vote against because they believed that any new investment should be directed at making ageing French reactors safer. So certain were EDF that a signing ceremony with the British government would take place today to provide the company with 35 years of subsidies for their electricity that they had hired marquees, invited the world’s press and laid in stocks of champagne to toast the agreement. Myriad voices. But EDF chief executive Vincent de Rivaz, who had pushed for the deal, cancelled a trip to Britain on hearing the government announcement. Britain’s new prime minister, Theresa May, who had never publicly endorsed the project like her predecessor David Cameron, has clearly heeded the myriad voices outside the nuclear industry that say this is a bad deal for British consumers. Read more here
23 March 2016, Energy Post, Dispelling the nuclear baseload myth: nothing renewables can’t do better. The main claim used to justify nuclear is that it’s the only low carbon power source that can supply ‘reliable, base load electricity. But not only can renewables supply baseload power, they can do something far more valuable: supply power flexibly according to demand, writes Mark Diesendorf, Associate Professor of Interdisciplinary Environmental Studies at UNSW Australia. That, says Diesendorf, makes nuclear power really redundant. We have all heard the claim. We need nuclear power because, along with big hydropower, it’s the only low carbon generation technology that can supply ‘reliable baseload power’ on a large scale. For example, the UK Energy Secretary Amber Rudd, attempted to justify the decision to build the proposed Hinkley Point C nuclear power station on the grounds that “we have to secure baseload electricity.” Similarly, former Australian Industry Minister Ian Macfarlane recently claimed at a uranium industry conference: “Baseload, zero emission, the only way it can be produced is by hydro and nuclear.” Underlying this claim are three key assumptions. First, that baseload power is actually a good and necessary thing. In fact, what it really means is too much power when you don’t want it, and not enough when you do. What we need is flexible power (and flexible demand too) so that supply and demand can be matched instant by instant. Read More here
15 February 2016, Renew Economy, Nuclear commission findings spell more trouble for wind and solar in Australia. The South Australian Royal Commission into the nuclear fuel cycle has conceded that nuclear power is not a viable alternative for Australia, but has urged authorities to consider it anyway – in what could have serious implications for the roll out of renewable energy across the country. The commission delivered the results of its “tentative” findings on Monday, indicating that it supports the establishment of a nuclear waste facility in the state, the storing of spent nuclear fuel and the expansion of uranium mining. On the subject of nuclear generation, the commission admitted that it wasn’t viable in South Australia in the foreseeable future (2030) – even with a significant carbon price and a sharp reduction in the cost of capital. It conceded that Australia should only adopt “proven” new nuclear technologies such as “small modular reactors” and next generation “fast reactors” , but that these were some way off, and likely to be very costly. But commission chairman Kevin Scarce wants the nuclear generation dream to continue. He admitted that while there were real risks in nuclear generation – and there are “no guarantees on its safety” – he doesn’t “think the positive side of nuclear power is being presented.” Despite the findings of the commission on the high costs of nuclear, and its unsuitability to the South Australian market in particular, he wants nuclear energy to be part of the national consideration because of the challenges Australia faces in meeting its emissions abatement task. In effect, he and the nuclear proponents are betting that Australia will fall short in its climate targets; and given the record of the Coalition government on climate policy – including the repeal of the carbon price, the slashing of the renewable energy target, the attack on key institutions and slow progress on energy efficiency – that is a fair bet. Read more here