LONDON (Reuters) - Britain's nuclear strategy is "uninvestable" for private clients, who are only likely to put money into new plants if the government shoulders more of the risks involved, Citigroup's head of European utilities research said on Wednesday.
Nuclear developers plan to build around 16 gigawatts of new nuclear capacity in the UK by 2025 to help meet the UK's tough climate targets, but the investment environment is "dire," Peter Atherton told journalists at a briefing in London.
Planned stress tests on European nuclear plants should focus on threats from natural disasters and exclude potential man-made catastrophes such as a terrorist attack, European atomic industry group Foratom said.
European nuclear officials are to decide today on parameters for the safety checks on atomic power plants in response to the Japanese nuclear crisis caused by a March 11 earthquake and tsunami. The meeting of the European Commission, the EU regulator, and 27 national nuclear safety authorities comes a day after Spain’s biggest earthquake in 57 years killed eight people.
Bulgarians "risk being cold" this winter if the government did not move forward with the Russian energy projects. This is what Russian Prime Minister, Vladimir Putin said, off-the-record, to his Bulgarian counterpart, Boyko Borisov, during the summit in Gdansk in September, 2009. The tone of the sentence in question is not clear, we cannot judge if it was threatening enough, but obviously it seriously impressed Borisov in order for him to report it in a timely manner and for Putin’s words to find their place in the classified documents of the American diplomacy.
AMSTERDAM (Dow Jones)--The Dutch Supreme Court Friday upheld an interim injunction that prevents German utility RWE AG (RWE.XE) from obtaining a 50% stake in the only nuclear power plant in the Netherlands.
The ruling is a setback for RWE, which acquired Dutch utility Essent in 2009, but a final decision on whether RWE will eventually gain control of the stake in the Borssele reactor could still take years.
PARIS/FRANKFURT, Jan 20 (Reuters) - Power groups GDF Suez, Iberdrola and RWE said on Thursday they were pulling out of a multi-billion dollar nuclear project in Romania, confirming an earlier report by Reuters.
"Economic and market-related uncertainties surrounding this project, related for the most part to the present financial crisis, are not reconcilable now with the capital requirements of a new nuclear power project," the groups said in a joint statement.
While RWE insisted that its withdrawal from the project, which has yet to get off the ground, was due entirely to financial concerns, the February 2009 secret US embassy cable indicates that safety concerns and shady business practices by other partners were a factor in the German firm's decision to leave in October 2009.
Vilnius - Lithuanian Foreign Minister Audronius Azubalis on Tuesday praised German support for a planned nuclear power station to be built in the Baltic country, describing it as a 'guarantee' to potential investors.
The Romanian state will take a decision in 2011 on the make-up of the company set to construct two new nuclear reactors in Romania’s existing site in Cernavoda, Constanta county, Minister of Economy Ion Ariton told The Diplomat
This will further delay the development of the four billion Euro, 1,500 MW power plant development and is likely to contribute to pushing back its commissioning date of 2015 to 2017 at the earliest.
When Germany announced its plan to phase out nuclear power stations last month, shares in the big four German power companies rose. The agreement made with the German government would see Eon, RWE, EnBW and Vattenfall pay a nuclear-fuel rods tax of EUR2.3bn until 2016 - but the market had been expecting worse.
But today Moody's has warned that the impact of the tax might yet force a downgrade of the companies' credit ratings.
Britain’s “big six” energy companies will this week warn Chris Huhne, secretary of state for energy, that the government’s proposed “floor price” for carbon emission permits is not enough of an incentive for them to invest in new nuclear power stations.
Executives from the companies, including Centrica, EDF Energy and Scottish Power, now owned by Iberdrola, are due to make their views clear at a dinner with Mr Huhne on Wednesday.
