German Utility Mulls European Markets for New Reactor Build

Unable to build nuclear capacity at home due to a long-standing moratorium on new reactor build, German utility E.On may is looking to build reactors elsewhere in Europe:

Additionally, [E.On Energie Chief Executive Johannes] Theyssen confirmed E.On's interest to build nuclear power plants in foreign markets.

The company has already sent a letter of intent to the Romanian government stating its interest to participate in the construction of two new nuclear reactors in Cernavoda as a strategic investor, Theyssen said.

At the same time, Theyssen said, E.On is monitoring the Dutch market, where nuclear power is being reconsidered as an option, and the U.K. where the government is in favor to build new nuclear facilities, Theyssen added.

I have to wonder if Germany may wind up importing electricity from abroad, generated by reactors they refused to build at home.

Technorati tags: Nuclear Energy, Environment, Energy, Politics, Economics, Electricity, Germany, Romania, Holland, United Kingdom

Comments

Rod Adams said…

I think that Germany already imports electricity from France, which is obviously generated in nuclear power plants.

June 29, 2006 at 9:18 PM

Brian Mays said…

Indeed, that is the case. Germany does import electricity from France.

Look at Italy for the classic example of what is going on. They shut down their reactors after Chernobyl, and now, they import more electricity than anyone. Much of it comes from France.

July 2, 2006 at 4:22 PM

Activists' Claims Distort Facts about Advanced Reactor Design

Below is from our rapid response team . Yesterday, regional anti-nuclear organizations asked federal nuclear energy regulators to launch an investigation into what it claims are “newly identified flaws” in Westinghouse’s advanced reactor design, the AP1000. During a teleconference releasing a report on the subject, participants urged the Nuclear Regulatory Commission to suspend license reviews of proposed AP1000 reactors. In its news release, even the groups making these allegations provide conflicting information on its findings. In one instance, the groups cite “dozens of corrosion holes” at reactor vessels and in another says that eight holes have been documented. In all cases, there is another containment mechanism that would provide a barrier to radiation release. Below, we examine why these claims are unwarranted and why the AP1000 design certification process should continue as designated by the NRC. Myth: In the AP1000 reactor design, the gap between the shield bu...

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...

NEI Nuclear Notes

Search This Blog