Ditch the jargon

12 September 2014

To attract financial institutions to new build projects, the nuclear power industry needs to avoid 'nuke-speak' and learn to talk like a banker, writes George Borovas.

Here is a guide to some of the commonly used – and potentially misinterpreted – terms.

Industry says: latest technology

Bank hears: first-of-a-kind risk

Industry says: proven safety record

Bank remembers: Chernobyl, Three Mile Island and Fukushima

Industry says: construction schedule

Bank worries about: delays and cost overruns

Industry says: consortium

Bank thinks: interface risk

Industry says: channeling of liability

Bank worries about: gaps, inconsistencies, and neighbouring countries

Industry says: peaceful use

Bank considers: nuclear proliferation

Industry says: well-regulated industry

Bank queries: host country regulator

Industry says: localisation

Bank hears: supply chain risk

Industry says: with Government support

Bank worries about: political risk and a Germany-style phase out

Industry says: Contracts for Difference or long-term Power Purchase Agreement

Bank acknowledges: state aid investigations

Industry says: long-term economics

Bank hears: electricity market risk

Industry says: new nuclear program

Bank hears: host country commitment and resources

George Borovas

Comments? Please send them to editor@world-nuclear-news.org

George Borovas is the head of Shearman & Sterling's Global Nuclear Group and a partner in the firm's Project Development & Finance Group.