EDF

UK nuclear power

Friday, February 15, 2008

Recent rumours of a takeover or break-up of British Energy are exaggerated.

The UK nuclear generator, with an enterprise value of £5bn, is still in effect controlled by the government. In return for taking on the long-term liabilities associated with decommissioning nuclear plants, the state has a call on BE's net cash flows - 65 per cent from 2004 to 2007, and now 35 per cent. It can convert this right into equity at any point and could potentially block unwanted interest. Whether it would, though, is a moot point. While some potential suitors - Russia's Gazprom, for example - would be politically less appealing than others, the UK government appears to feel sanguine about foreign ownership even of such strategic assets.

Posted in | »

British Energy in talks on reactors

Thursday, February 14, 2008

British Energy remains in talks with 10 potential partners for the construction of nuclear reactors and hopes to sign at least one deal in the next few months.

The nuclear energy group reported third-quarter results on Wednesday, which were hit by the unplanned closure of its Hartelpool and Heysham reactors.

Posted in | »

British Energy Profit Falls on Nuclear Reactor Halts

Wednesday, February 13, 2008

Feb. 13 (Bloomberg) -- British Energy Group Plc, the U.K.'s biggest power producer, said fiscal third-quarter profit fell 18 percent, weighed down by the cost of unscheduled reactor shutdowns and lower electricity prices.

Posted in | »

Spain nuclear lobby calls for 13 GW in new plants

Thursday, February 7, 2008

MADRID, Feb 7 (Reuters) - Spain needs to build at least 13,000 megawatts worth of nuclear plants to achieve a feasible power generation mix by 2030, according to a study released by the country's nuclear lobby on Thursday.

Spain's eight existing nuclear power reactors each produce about 1,000 MW of electricity, but new reactors being built in other countries are much bigger.

Posted in | »

British Energy plans more nuclear plant stoppages

Tuesday, February 5, 2008

LONDON, Feb 4 (Reuters) - British Energy will inspect three more reactors at its Hunterston B and Hinkley Point nuclear power stations later this year after stopping one unit over the weekend for boiler checks, a spokeswoman for the company said on Monday.

Posted in | »

Torness-2 nuclear plant restarts

Thursday, January 24, 2008

LONDON, Jan 24 (Reuters) - British Energy's Torness-2 nuclear reactor restarted early on Thursday after tripping on Tuesday due to a faulty reading, a spokeswoman for the company said.

The 625-megawatt power plant stopped unexpectedly on Tuesday after an apparent problem in the boiler area of the power station in Scotland.

"There wasn't actually anything wrong with the plant," the spokeswoman said. "It was a spurious reading."

British Energy's nuclear plants can produce up to one fifth of Britain's power when they are all fully operational. (Reporting by Daniel Fineren)

Posted in |

Slovakia to call tender to expand nuke plant

Monday, January 21, 2008

BRATISLAVA, Jan 21 (Reuters) - Slovakia will open a tender this year to expand the Jaslovske Bohunice nuclear power plant, seeking to boost power capacity to meet demands of its growing economy, Economy Minister Lubomir Jahnatek said on Monday.

"We expect that the tender will be called this year," Jahnatek told reporters after meeting his Czech counterpart Martin Riman.

Posted in | »

Power failure: What Britain should learn from Finland's nuclear saga

Wednesday, January 16, 2008

It was hailed as the template for all future reactors – but then they tried to build it.

The island of Olkiluoto, off Finland's west coast, seems like the perfect picture of Nordic serenity. Surrounded by the still, idyllic waters of the Gulf of Bothnia, it looks like an ideal spot for a peaceful retreat away from it all. Anyone wanting to visit the island has to travel down a long, lonely road, hugged tightly on each side by a thick forest of spruce and birch, and avoid the many elk that roam freely.

Posted in | »

How the nuclear industry lost its power

Monday, January 14, 2008

Nuclear power is back on the agenda in Britain. If more nuclear stations are ordered, which is far from certain, it will mark a fresh start for an industry in which Britain once hoped to lead the world, but which was crippled by a series of misjudgments on the part of politicians, managers and investors.

Posted in | »

Gadaffi’s visit to France sparks protests

Tuesday, December 11, 2007

By Ben Hall in Paris

Muammer Gadaffi, the Libyan leader, on Monday began a five-day visit to Paris to buy arms, nuclear power and civil airliners, triggering a storm of criticism from campaigners and an outburst from a government minister who said France should not accept his “kiss of death”.

Colonel Gadaffi was last night expected to sign a clutch of contracts valued at about €10bn ($14.7bn, £7bn) with French companies at the Elysée palace following talks with Nicolas Sarkozy. The Libyan leader is looking to buy 26 Airbus aircraft, a nuclear power station, French Rafale fighters and missiles, spare parts for his fleet of Mirage fighters and military helicopters.

Posted in | »