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.
A catastrophic fire and explosion at a Total oil terminal could affect safety at the adjacent Gravelines nuclear power plant, an annual review of nuclear safety in France has revealed. Total and EDF will make changes to avoid effects on nuclear safety from a previously unconsidered scenario.
In the 1970s two major industrial developments began near the town of Gravelines in the Flanders region of northern France: An oil terminal began operation in 1974, followed one year later by construction of the first reactor at the adjacent Gravelines nuclear power plant. The terminal went on to expand through the 1970s and by 1985 the nuclear power plant was the largest in the world with six reactors in operation.
PARIS, March 1 (Reuters) - French police have searched the office of EDF Chief Executive Henri Proglio as part of a German investigation into the 2010 purchase of EDF's stake in utility EnBW by the state of Baden-Wuerttemberg, a source close to the matter said.
German prosecutors opened preliminary proceedings in July into alleged links between Morgan Stanley's top dealmaker in Germany and one of Baden-Wuerttemberg's top politicians relating to the state's purchase of shares in EnBW.
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.
Electricity firm EDF has confirmed it wants the UK government to sign 40-year contracts to support building new nuclear reactors in Britain – as the national energy regulator warned prices are likely to rise higher than expected.
The French-owned company is in talks with ministers over "contracts for difference" funding, under which the government guarantees generators will be paid a minimum price for electricity from new nuclear plants: if the market price falls lower than this "strike price" then a surcharge will be added to customers' bills; if it rises higher there would be a refund.
The government is launching a last-ditch attempt to sign up energy companies to build new nuclear power stations by proposing to sign contracts guaranteeing subsidies for up to 40 years.
The coalition agreement reached between the Conservatives and Liberal Democrats in 2010 promised that nuclear power stations would be built only if the industry got no public subsidy, but costly overruns for new reactors overseas and the exit of several major utilities from the UK programme, most recently Centrica, have driven ministers and officials to backtrack on that pledge and accept they will have to provide financial support.
PARIS, Feb 12 (Reuters) - French utility EDF is expected cut more costs, sell assets and scale back investment as the state-controlled group struggles with a cap on electricity prices and heavy debts.
When EDF reports 2012 earnings on Thursday, analysts predict the world's largest single operator of nuclear plants is likely to embark on a one billion euro cost-cutting plan, on top of 2.5 billion euros ($3.34 billion) of cuts begun in 2011.
EDF is aiming to complete negotiations with the UK government over new nuclear Contracts for Difference (CfDs) by the end of the first quarter of 2013, it confirmed today. The French-owned firm plans to make an investment decision on Hinkley Point C "as soon as possible" after that.
At its annual results presentation, chief executive Henri Proglio said EDF was seeking a 40-year contract for Hinkley Point C. Potential partners had come forward but nothing would be agreed until the contracts were in place and approved by Brussels.
Electricite de France SA’s chief executive officer said he’s willing to join Centrica (CNA) Plc in walking away from building the U.K.’s first reactors in two decades unless the government ensures the project is profitable.
“We won’t do it” if if the price for their power isn’t high enough, CEO Henri Proglio said in an interview in Bure, eastern France. “I won’t qualify myself as confident, but rather conscious that an agreement can be reached” on prices.
LONDON (Reuters) - Utility Centrica has pulled out of plans to build new nuclear power stations in Britain with partner EDF, paving the way for Chinese investors to enter the UK market through a partnership with the French firm.
Centrica said it had decided to waive an option of taking a 20 percent stake in four new reactors - two at Hinkley Point in Somerset and two at Sizewell in Suffolk.
Centrica's decision was largely expected, but it casts some doubt on the UK government's plan to attract investment to revive the nuclear industry.
