Skip to main content

Britain, France Ink Bilateral Nuclear Energy Agreement

From the Guardian (U.K.):
Tony Blair has sealed an agreement with France to share expertise on nuclear power.

It is the latest signal that he is planning to give the green light to a new generation of atomic power plants in the UK.

At the annual Franco-British summit in Paris, Mr Blair and French President Jacques Chirac agreed to set up a bilateral nuclear forum to bring together ministers, business and experts from either side of the Channel.

The move will be seen as further confirmation that the Government's upcoming energy review will pave the way for the construction of a dozen or more power plants to replace the UK's ageing reactors.
Technorati tags: , , , , , ,

Comments

Matthew66 said…
I am sure it is no coincidence that the new EPR for France is going to be built across the coast from the UK in Flamanville, Normandy. I wouldn't be at all surprised if EDF has a view to exporting electricity from the new reactor to the UK market. Despite what anti-nuclear activists think, the UK will get a lot of its future electricity needs from nuclear. The only question is whether the reactors are in France or in Britain. If they're in Britain the security of supply is assured, if in France, Britain will be at the mercy of a country that is traditionally hostile to it.

Popular posts from this blog

Fluor Invests in NuScale

You know, it’s kind of sad that no one is willing to invest in nuclear energy anymore. Wait, what? NuScale Power celebrated the news of its company-saving $30 million investment from Fluor Corp. Thursday morning with a press conference in Washington, D.C. Fluor is a design, engineering and construction company involved with some 20 plants in the 70s and 80s, but it has not held interest in a nuclear energy company until now. Fluor, which has deep roots in the nuclear industry, is betting big on small-scale nuclear energy with its NuScale investment. "It's become a serious contender in the last decade or so," John Hopkins, [Fluor’s group president in charge of new ventures], said. And that brings us to NuScale, which had run into some dark days – maybe not as dark as, say, Solyndra, but dire enough : Earlier this year, the Securities Exchange Commission filed an action against NuScale's lead investor, The Michael Kenwood Group. The firm "misap...

Wednesday Update

From NEI’s Japan micro-site: NRC, Industry Concur on Many Post-Fukushima Actions Industry/Regulatory/Political Issues • There is a “great deal of alignment” between the U.S. Nuclear Regulatory Commission and the industry on initial steps to take at America’s nuclear energy facilities in response to the nuclear accident in Japan, Charles Pardee, the chief operating officer of Exelon Generation Co., said at an agency briefing today. The briefing gave stakeholders an opportunity to discuss staff recommendations for near-term actions the agency may take at U.S. facilities. PowerPoint slides from the meeting are on the NRC website. • The International Atomic Energy Agency board has approved a plan that calls for inspectors to evaluate reactor safety at nuclear energy facilities every three years. Governments may opt out of having their country’s facilities inspected. Also approved were plans to maintain a rapid response team of experts ready to assist facility operators recoverin...

Nuclear Utility Moves Up in Credit Ratings, Bank is "Comfortable with Nuclear Strategy"

Some positive signs that nuclear utilities can continue to receive positive ratings even while they finance new nuclear plants for the first time in decades: Wells Fargo upgrades SCANA to Outperform from Market Perform Wells analyst says, "YTD, SCG shares have underperformed the Regulated Electrics (total return +2% vs. +9%). Shares trade at 11.3X our 10E EPS, a modest discount to the peer group median of 11.8X. We view the valuation as attractive given a comparatively constructive regulatory environment and potential for above-average long-term EPS growth prospects ... Comfortable with Nuclear Strategy. SCG plans to participate in the development of two regulated nuclear units at a cost of $6.3B, raising legitimate concerns regarding financing and construction. We have carefully considered the risks and are comfortable with SCG’s strategy based on a highly constructive political & regulatory environment, manageable financing needs stretched out over 10 years, strong partners...