Related Topic: Finance

Austria fails in attempt to block Hinkley Point C

Austria fails in attempt to block Hinkley Point C

The European Court of Justice has rejected Austria's appeal against the European Commission's 2014 decision to approve the UK's support for the Hinkley Point C nuclear power plant, which is under construction in Somerset, England. The Court of Justice, the supreme court of the European Union in matters of EU law, agreed with the Commission that the project is in line with EU state aid rules.

New Nuclear 22 September 2020


Nuclear's flexibility is the 'magic' to create a clean energy future

Nuclear's flexibility is the 'magic' to create a clean energy future

The nuclear industry has merely scratched the surface of the flexible benefits of nuclear power, according to panellists in a conference held this week ahead of the 11th Clean Energy Ministerial. The CEM11 side-event, Flexibility in Clean Energy Systems: The Enabling Roles of Nuclear Energy, included high-level speakers from the International Energy Agency, the OECD Nuclear Energy Agency, the International Atomic Energy Agency, as well as government officials from Canada, the UK and the USA. Hosted by Saudi Arabia, CEM11 will take place on 22 September.

Nuclear Policies 17 September 2020


Hitachi withdraws from UK new-build project

Hitachi withdraws from UK new-build project

Hitachi announced today it will end its business operations on the Wylfa Newydd nuclear power plant construction project, which it had suspended in January 2019 "because it was clear that further time was needed to decide on a financing structure". Horizon Nuclear Power, the UK project developer that Hitachi acquired in November 2012, said it will now take steps for the "orderly closing down" of all its current development activities, but will "keep the lines of communication open" with government and other key stakeholders regarding future options at both its sites, which in addition to Wylfa Newydd on Anglesey, include Oldbury on Severn in South Gloucestershire.

Corporate 16 September 2020


Markets lack a price signal for nuclear investment

Markets lack a price signal for nuclear investment

The nuclear industry should work with policymakers on the design of market mechanisms that can produce a clear price signal to attract investors to this low-carbon form of electricity, Jostein Kristensen, partner with economics consultancy firm Oxera, told participants in World Nuclear Association's Strategic eForum last week. Markets currently do not reflect the value of nuclear power as a sustainable and reliable source of energy in the fight against climate change, he said.

Nuclear Policies 14 September 2020


Ideology is hindering progress on climate change

Ideology is hindering progress on climate change

Prejudice towards nuclear power among some policymakers is preventing a fact-based assessment of its benefits, including the ability to cut global greenhouse gas emissions, Bohdan Zronek, chief nuclear officer at Czech utility ČEZ, told participants in World Nuclear Association's Strategic eForum last week. ČEZ was one of seven utilities that wrote to the European Commission in March, arguing that the nuclear industry ought to benefit from future sustainable financing.

Nuclear Policies 14 September 2020


Rosatom sees wider financing options for new build

Rosatom sees wider financing options for new build

Driving investment towards nuclear projects, the topic of World Nuclear Association's Strategic eForum 2020 yesterday, has become "the top priority" for the industry, Ilya Rebrov, the chief financial officer of Rosatom, said in his opening remarks as part of the high-level panel. The opportunities to attract private financing to new-build projects are growing, and the Russian state nuclear corporation hopes to draw on its recent experience in wind energy, he said.

Corporate 11 September 2020


Urgent need for nuclear in global energy transition

Urgent need for nuclear in global energy transition

A major effort to develop and deploy clean energy technologies worldwide is urgently needed to meet international energy and climate goals, particularly in order to reduce carbon emissions from areas beyond the power sector such as transport, buildings and industry, according to a new International Energy Agency report released today. Meanwhile, the Paris-based agency's chief economist, Laszlo Varro, told participants in World Nuclear Association’s Strategic eForum 2020 yesterday that nuclear power "makes the energy transition more cost-effective and more energy secure".

Energy & Environment 10 September 2020


UK outlines path to cost reduction in nuclear new build

UK outlines path to cost reduction in nuclear new build

The UK's Nuclear Industry Association unveiled today a new report that sets out the key factors to reduce risk and bring down the cost of new nuclear power plant projects by 30% by 2030. The report was produced by a "cross-industry team", working as part of the government-backed Nuclear Sector Deal.

Nuclear Policies 02 September 2020


Horizon waiting for chance to restart new-build projects

Horizon waiting for chance to restart new-build projects

Horizon Nuclear Power has been holding "detailed conversations" with the UK government in recent weeks to persuade ministers that the proposed Wylfa Newydd plant on Anglesey could be quickly re-mobilised if they can produce a new financing model for large nuclear power plants in Britain, according to an article in the Financial Times on 16 August. A decision on Wylfa’s planning application is expected by the end of next month.

Nuclear Policies 19 August 2020


Feasibility study sought for Cernavoda expansion project

Feasibility study sought for Cernavoda expansion project

Romania has launched a tender for a new feasibility study to complete units 3 and 4 of the Cernavoda nuclear power plant for which it is prepared to pay up to RON1 million (USD245,000). There is also the option of a single unit being put up for auction, according to a report by Economica.Net.

New Nuclear 05 August 2020