Skip to main content

U.K. Nuclear Update

With oil and natural gas production in the North Sea declining, the Royal Society of Edinburgh says that Scotland needs to keep energy alternatives in mind:
A 50% rise in energy demand in the next 45 years means that Scotland needs to keep its nuclear option open, according to a group of the country's most senior academics.

With a sharp fall in generating capacity looming, the Royal Society of Edinburgh warns that demand for energy will continue to rise, and a mix of solutions is required.

Its estimate of a 50% increase by 2050 is based on trend growth in demand and 2% average annual economic growth.

Given the spiralling rates of energy consumption, the institute concluded that the option of replacing nuclear power plants should be left open, but with a plea that it should not become a political football.
The RSE has posted video of the press conference announcing the publication of the report. The RSE also has serious concerns about Scotland's electrical grid. For more on the report and local reaction, visit Rob Edwards.

According to the Independent, dissidents in the Labor Party are planning on making the question of new nuclear build an issue when the party chooses a successor to Prime Minister Tony Blair later this year:
Labour rebels said that they intended to challenge Gordon Brown, the Chancellor, on the issue when he takes over from Tony Blair, which many expect will be soon after Labour's annual conference in September.

Michael Meacher, a former environment minister, is likely to make opposition to nuclear energy a key part of his leadership challenge to Mr Brown, if he can get sufficient nominations.

Mr Brown's support last week for a new generation of British nuclear weapons will increase the determination of some Labour MPs, such as Clare Short, to back a challenger. Mr Meacher has told allies he wants to campaign on a wide-ranging agenda which focuses on green issues.

"Nuclear energy has now become a central issue for the succession," said Alan Simpson, a member of the Campaign Group of Labour MPs. "The more Gordon Brown drapes himself in the clothes of Tomorrow's World, the more he looks like Yesterday's Man. There is a growing fear now that he is going to lead us into a hung Parliament."
Finally, Blair addressed the issue of climate change in a speech yesterday at King's College in London. Click here for a transcript.

Technorati tags: , , , , , , , , ,

Comments

Anonymous said…
I'd hardly call less than 1% annual demand growth (which is what it works out to, assuming the 50%-by-2050 figure given in the article) "spiraling." If you want to see spiraling supply (and greater demand) growth, look at China.

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...