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EDF Energy to cut jobs to control cost of building nuclear power station

Wednesday, April 24, 2013

EDF energy is cutting scores of jobs to control costs at the site of its proposed new nuclear power station at Hinkley Point in Somerset. The company is in the middle of difficult negotiations with ministers over the level of public subsidy the new reactors will receive over the next 40 years but insisted the project is not being mothballed and that it is not "holding a gun to the government's head".

The company has already spent £800m on developing the £14bn project and lost its junior partner when Centrica pulled out in February. "As part of good project management, and to control costs, EDF Energy has taken steps to refocus its activities at its Hinkley Point C project," said a spokeswoman. "This reflects its priorities ahead of securing the financing necessary for the project."

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Energy security 'at risk' if ministers fail to seal EDF nuclear deal

Sunday, April 14, 2013

Britain's energy security will be put at risk and future generations left to suffer with higher bills if ministers fail to agree a deal with EDF Energy to build Britain’s first new nuclear plant in a generation, the industry’s main representative body has claimed.

In the starkest warning yet over the £14bn Hinkley Point project, Lord Hutton, chairman of the Nuclear Industry Association, argues that failure would undermine Britain’s credibility with investors and threaten other projects across the energy sector.

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Nick Butler: Nuclear power yesterdays technology?

Thursday, April 4, 2013

Why is it proving so difficult to close the deal on new nuclear in Britain? In part, of course, there is the normal arm wrestling negotiation. This is focused on the so called "strike price" - an energy price below which the suppliers will get compensation from the state - and on the allocation of risk around a £14bn construction contract.

The UK government wants a strike price of around £65 to £70 per MWh which is high but probably politically defensible. They well remember that in 2008 EDF talked about a price of £45 per MWh. EDF now wants something between £95 and £100, but they can probably afford to accept the Government's figure and still make a reasonable profit.

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UK seeks 3bn from uranium group sale

Saturday, March 30, 2013

Ministers are looking to raise up to £3bn before the end of the year through the sale of the government's 33 per cent stake in Urenco, the uranium enrichment company, in one of the biggest privatisations in years.

The deal would be a relief to the Treasury, which hopes that a series of sales will put a dent in the country's towering debt. Royal Mail could also be sold this year, raising £3bn-£4bn.

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EDF, U.K. Unlikely to Meet End-March Deadline on Nuclear Subsidy -Sources

Friday, March 29, 2013

French electricity company Electricite de France SA and the British government are unlikely to meet a deadline at the end of March to agree on subsidies that would allow the construction of new nuclear power plants in the U.K., people familiar with the matter said.

The people said in recent days that although discussions are still ongoing, they aren't intensive and neither side appeared to be willing to make any compromises.

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British nuclear support plans flout EU rules - lawyers

Thursday, March 21, 2013

BRUSSELS/LONDON (Reuters) - Britain's plans to reward nuclear plant operators through fixed prices for low-carbon energy are illegal under existing EU rules and efforts to adapt them are likely to draw opposition from other member states, EU and legal sources said.

Britain plans to reform its electricity market to fix a minimum price for nuclear, wind and solar-generated power, which is carbon free.

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Dutch clear way for nuclear sale

Sunday, March 17, 2013

HOLLAND has dropped its historic opposition to a sale of Urenco, clearing the way for a full privatisation of the state-backed nuclear fuel maker.

The sudden change of heart came after several rounds of intergovernmental talks over the future of Urenco, which is owned by the governments of Britain and Holland and two German utility companies.

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"I'm worried about consumers’ bills": Energy firm boss blasts long price deals to encourage new nuclear plants

Friday, March 15, 2013

THE boss of one of Britain’s biggest energy giants has blasted Government plans to encourage new nuclear plants.

Paul Massara, chief executive of RWE npower, said contracts lasting up to a rumoured 35 years, to guarantee generators a minimum price for electricity, would be “wrong”.

Ministers are being pressured to offer lengthy terms to get firms to commit to the vast cost of building nuclear power stations.

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Nuclear power plans threatened by European commission investigation

Friday, March 15, 2013

Proposed nuclear reactor in Somerset could be delayed by two years if competition directorate launches full-scale investigation

Britain's planned nuclear reactor programme could be delayed for years, and the nation's long-term energy policy thrown into turmoil, as European commission officials launch the first stage of a formal investigation into the use of taxpayer subsidies to support the development.

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RWE boss warns over nuclear plant subsidies

Wednesday, February 20, 2013

RWE npower, one of the big six power suppliers, has warned ministers not to seal a long-term subsidy deal with the nuclear industry behind the backs of consumers and saddle them with "unnecessarily high bills" for the next 40 years.

The warning from Paul Massara, RWE UK's new chief executive, comes as the Guardian can reveal that up to 15 private sector executives with links to the atomic sector have been seconded to government departments or other public sector roles.

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