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The eye-watering expense of nuclear power

 
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Aurora



Joined: 24 Jan 2007
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PostPosted: Fri May 04, 2012 6:45 pm    Post subject: The eye-watering expense of nuclear power Reply with quote

Quote:
Jonathon Porritt - The Guardian - 04/05/12

The coalition wants us to depend more and more on nuclear power, but quite simply, it is too expensive to be able to deliver.

Article continues ...
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biffvernon



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PostPosted: Wed May 09, 2012 1:58 pm    Post subject: Reply with quote

http://www.4-traders.com/EDF-4998/news/EDF-Sees-UK-New-Nuclear-Costs-Rising-By-40-Report-14314952/

Quote:
EDF Sees UK New Nuclear Costs Rising By 40%

The U.K. unit of French state-controlled Electricite de France SA (>> EDF) has increased by 40% the estimated costs of its new-build nuclear power plants in the U.K., The Times reports Monday.

EDF is heading one of two consortia planning new nuclear power stations in the U.K., following the withdrawal in March of Germany's RWE AG (>> RWE AG) and E.ON AG (>> E.ON AG). The U.K. government has backed the construction of nuclear plants in an effort to keep the lights on while meeting targets to reduce environmentally-damaging emissions.

The cost of two new reactors at Hinkley Point, in southwest England, is now estimated to be around GBP7 billion each, based on EDF's experience of building a new plant at Flamanville, France, The Times says, without citing sources.

The U.K. newspaper says EDF Energy has briefed Centrica PLC (>> Centrica PLC)--its partner in the project--about the rising costs, which the report says increases the likelihood of the U.K. company withdrawing from the joint venture, for which it is liable for one-fifth of the costs.

Last week, EDF Energy's Chief Executive Vincent de Rivaz said the company is likely to press ahead with its plans in the U.K

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PS_RalphW



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PostPosted: Wed May 09, 2012 2:04 pm    Post subject: Reply with quote

UK plc will be bankrupt long before a single new nuclear plant goes on line.

However much money is spent on them is money that is not being spent on the future UK energy supply.

We can extract electricity from half a wind farm. Half a nuclear power station is a pile of iron and concrete.
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emordnilap



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PostPosted: Wed May 09, 2012 2:34 pm    Post subject: Reply with quote

biffvernon wrote:
http://www.4-traders.com/EDF-4998/news/EDF-Sees-UK-New-Nuclear-Costs-Rising-By-40-Report-14314952/

Quote:
EDF Sees UK New Nuclear Costs Rising By 40%

The U.K. unit of French state-controlled Electricite de France SA (>> EDF) has increased by 40% the estimated costs of its new-build nuclear power plants in the U.K., The Times reports Monday.

EDF is heading one of two consortia planning new nuclear power stations in the U.K., following the withdrawal in March of Germany's RWE AG (>> RWE AG) and E.ON AG (>> E.ON AG). The U.K. government has backed the construction of nuclear plants in an effort to keep the lights on while meeting targets to reduce environmentally-damaging emissions.

The cost of two new reactors at Hinkley Point, in southwest England, is now estimated to be around GBP7 billion each, based on EDF's experience of building a new plant at Flamanville, France, The Times says, without citing sources.

The U.K. newspaper says EDF Energy has briefed Centrica PLC (>> Centrica PLC)--its partner in the project--about the rising costs, which the report says increases the likelihood of the U.K. company withdrawing from the joint venture, for which it is liable for one-fifth of the costs.

Last week, EDF Energy's Chief Executive Vincent de Rivaz said the company is likely to press ahead with its plans in the U.K


I tried to find more details about this but failed; what do you think is the likely explanation for this particular cost increase?
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kenneal - lagger
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PostPosted: Wed May 09, 2012 3:28 pm    Post subject: Reply with quote

Complexity of the designs and extra safety measures, changes resulting from Fukushima and rising steel costs I should think.
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biffvernon



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PostPosted: Wed May 09, 2012 9:43 pm    Post subject: Reply with quote

Swiftly followed by http://uk.reuters.com/article/2012/05/08/uk-nuclear-britain-edf-idUKBRE8470XC20120508

Quote:
(Reuters) - Britain's aim to expand its fleet of nuclear plants by 2025 will take place only if the taxpayer absorbs the burden of spiralling construction costs, allowing private companies to invest in the sector, a senior analyst said.
...
"If construction costs are indeed anything like 7 billion pounds per reactor, then an already very challenging programme may be reaching the point of impossibility in our view," Atherton said in a separate analyst note from Citi on Tuesday.

Ministers will struggle to justify such inflated costs both politically and economically, he added.

Factoring in the new 7 billion pound construction cost and a standard 15 percent return on investment, EDF would charge about 166 pounds per megawatt hour of electricity produced from its proposed atomic plants - requiring a government handout of 115 pounds per megawatt hour,
...
Current power prices are far too low - at 51 pounds per megawatt hour - to justify commercial investment into nuclear power without government help.

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emordnilap



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PostPosted: Wed May 09, 2012 10:26 pm    Post subject: Reply with quote

So the taxpayer pays for it but industry 'invests' in it, eh?

No hint of shame.
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