NNWE Executive Brief (14 November 2016)
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NNWE Executive Brief

Welcome to the bi-weekly Executive Brief aimed at distilling the most important market, regulatory and technological updates and delivering it straight into your inbox.

"Following last week’s surprising election of Donald Trump as President elect of the United States, the nuclear industry must quickly assess what this means for its future deployment. Trump has instigated that​ he would cancel or ignore the climate change agenda and focus on the cost of consumer bills, this highlights his core energy policy: supporting the cheapest forms of energy generation, including the rapid expansion of shale, gas, and oil exploration."

Tim Yeo, Chairman, New Nuclear Watch Europe (NNWE)

5 Things to Know

  • The historic Paris Agreement officially entered into force on 4 November 2016. 
  • French utility EDF has postponed the restart of five of its nuclear reactors until the end of the year. The move has sent French and German electricity prices to new highs.
  • Dmitry Medvedev, the Prime Minister of Russia, and Li Keqiang, Premier of China's State Council, have made a joint statement on the development of strategic cooperation between the two countries in the peaceful uses of nuclear energy.
  • Nuclear power accounted for only 3% of China’s electricity in 2015 and is unlikely to achieve more than 10% of China’s electricity supply in next decade.
  • Cornwall Energy chart of the week aims to illustrate the future of nuclear capacity in GB, and some of the challenges it faces. [Figure 1]
Source: Cornwall Energy

Quotes of the week...

"Throughout the [US] presidential campaign nuclear energy was a bipartisan issue and one of the few areas of general agreement between the candidates. Additionally, public polling shows that the importance of nuclear energy to this nation's energy mix is one thing voters could agree on, irrespective of their candidate preference. We encourage President-elect Trump to continue advancing his support for nuclear energy to maintain our nation's leadership in nuclear technology and its indispensable role in our critical energy infrastructure and environmental interests." -- Maria Korsnick, President and CEO, Nuclear Energy Institute

“This is a momentous occasion, what once seemed unthinkable, is now unstoppable. Strong international support for the Paris Agreement entering into force is a testament to the urgency for action, and reflects the consensus of governments that robust global cooperation, grounded in national action, is essential to meet the climate challenge.”
-- Ban Ki-moon, UN Secretary-General

"If you look at the speed and the extent to which China has opened up compared to other developing countries, it’s one of the leaders, and may even be faster than some developed countries. Of course, we are aware that China’s investment environment needs to improve... What I want to emphasise is China will become more and more open and our investment environment will become better and better." --  Wang Yi, Foreign Minister, Chinese Government
I believe that we’re in an exciting time; it feels like we are seeing a renaissance in the nuclear industry. With the recent signing of the Hinkley Point C contract, a clear signal has been sent: nuclear will continue to play a significant role in our future energy mix. And we’re going further, with proposals to develop 18GW of new nuclear power across six sites in the UK. We are harnessing the power and enthusiasm behind this renaissance to get the very best for our country." -- Baroness Neville Rolfe, Minister for Energy and IP, UK Government

"Can you imagine for one second that the company building these two EPR reactors in China, CGN, would invest £6 billion in the EPRs in Somerset if they were not fully confident in the technology and in our ability to deliver? The Flamanville project in France has had a lot of challenges, but it is now certain to succeed and commissioning will take place in 2018." -
- Humphrey Cadoux-Hudson, Managing Director of Nuclear New Build, EDF

Market Update

Market as of 14 November 2016

NewsCountries' creditworthiness could be increasingly affected by climate change, with African and South Asian sovereigns most susceptible to the economic effects of global warming, ratings agency Moody's said on Monday.

Uranium Price: $18.75 lb | €17.08 lb
Figure 2: 12-month price of uranium
Market as of: 14  2016. Courtesy of Ux Consulting Company
News: Cameco's long-term contract portfolio is helping the Canadian uranium company to realise average prices above the currently weak market price, CEO Tim Gitzel said: "[Cameco are] continuing to make the changes necessary to remain competitive in a depressed environment". 

New Nuclear Project Tracker

Prospective developments: 0

News: Finnish utility TVO has been awarded a final and binding partial award in the ongoing arbitration proceedings related to delays in the construction of the first-of-a-kind EPR unit at Olkiluoto.
News: EDF Energy has published the timetable for the second stage of formal public consultation for the proposed Sizewell C nuclear power plant - comprising two EPR reactors - in Suffolk, England. The public consultation will run between 23 November and 3 February 2017.

AP1000 (Westinghouse-Toshiba) Gen III+
Future development: 6 (China), 4 (US), 6 (India)
News: The AP1000 is expected to be GDA approved for use in the UK in March 2017.
ATMEA1 (Areva-Mitsubishi) Gen III+
Prospective developments: none
News: The Sinop nuclear development is waiting the results of its environmental impact assessment before final confirmation by the Turkish government.
ABWR (GE Hitachi-Toshiba) Gen III
Prospective developments: 4 (Japan), 2 (UK)
News: India is due to sign a MoU with Japan which could lead the way for GE Hitachi to develop new NPP in the country. An announcement is due in November. 
APR1400 (Kepco) Gen III
Prospective developments: 4 APR+ (Gen III+) in South Korea
Shin Kori 4 is undergoing a re-cabling of some of its systems and is due to come online in January 2017.
VVER-1000 (Rosatom) Gen III, VVER-1200 (Rosatom) Gen III+
Prospective developments: 14 (Russia), 2 (China), 12 (India), 1 (Finland), 3 (Turkey), 2 (Hungary)
News: Russia's AEM-Technology has launched production of major components for the second phase of the Kudankulam nuclear station project in India's Tamil Nadu state. The Rosatom subsidiary said it was producing the main circulation piping for Kudankulam 3, which is a VVER-1000 reactor.
Hualong1 (CGN) Gen III+
Prospective developments: 1 (UK), 6 (China)
News: CGN are looking to propose their plans for the Hualong 1 development at Bradwell in
the UK for GDA approval before the end of the year. 
Prospective developments: none
 Kakrapar Unit 3 is due to come online at the end of 2016 but may be delayed as final checks are concluded.

Global Decarbonisation

U.S. President-elect Donald Trump could use legal short-cuts to pull out of a global agreement for fighting climate change within a year, keeping a campaign promise and by-passing a theoretical four-year wait.

Countries planning to use nuclear power to meet their climate change goals will pool experience as part of a forthcoming research effort by the International Atomic Energy Agency (IAEA).

The UK government is still seeking to close down all coal fired power stations by 2015 in order to meet climate change targets.

Industry News

NuGen suggests UK Government could part-fund new UK nuclear plants in enquiry into the cost of energy generation by the House of Lords Economic Affairs Committee.

The IAEA has launched a new online Nuclear Contracting Toolkit to help states plan and implement procurement processes for nuclear power projects.

Hitachi-GE announced an MoU with Imperial College & Bangor University's newly formed Boiling Water Reactor (BWR) Research Hub & Network

Initial documents submitted to regulator for Finland’s Hanhikivi 1 NPP to be built by Rosatom

New Reports

World Nuclear Association: World Nuclear Performance Report 2016

Polish Ministry of Economic Development: Draft of the Responsible Development Strategy undergoing public consultations (in Polish).

The International Centre for Trade and Sustainable Development (ICTSD): Climate Change and Clean Energy in the 2030 Agenda: What Role for the Trade System?

The Global Nexus InstituteA Framework for Advanced Nuclear Reactor Deployment: Policy and Issues

NNWE in the news

Nuclear Report

Infrastructure Intelligence
Sunday Telegraph

NNWE Blogs

Tim Yeo, Chairman of NNWE Gives a Keynote Speech at the 4th European Nuclear Power Briefing 2016
Pan-European CfDs' called for at EU nuclear Conference
NNWE reflects on the 60th anniversary of Calder Hall nuclear power station

- New nuclear power heralded at Conservative Party conference
- NNWE Briefing Results in Calls for Greater Standardisation of Nuclear Components
Following Hinkley, the UK nuclear industry is now at a turning point


The UK and India promise to deepen clean tech and green bonds co-operation - including in nuclear power research and investment

Alpiq (Swiss utility) estimates it will lose $2.5bn if the Swiss referendum on the pace of their nuclear energy shut down - due to be held on 27 November - goes ahead. They argue a specific time-frame is not required. 

Argentina & Ukraine have signed a MoU aiming to promote bilateral nuclear power developments.

The UK Government has rejected a Freedom of Information request by former Minister of State for Energy and Climate Change, Ed Davey, for an independent report - commissioned by himself - by Frontier Economics on the comparative costs of various forms of energy generation, which could show nuclear is comparable to other sources. 

Nuclear Regulation

IAEA creates Europe and Central Asia safety network. The European and Central Asian Safety Network (EuCAS Network) brings together 20 Member States and 22 organisations with a responsibility for nuclear safety.

Sweden has made good progress in its legislative and regulatory framework for security at nuclear power facilities according to the IAEA.

The French Nuclear Safety Authority has requested that five of EDF's nuclear power units are taken offline for additional inspections as parts of the steel components have been found to contain high concentrations of carbon.

A small amount of radioactive iodine was released into the environment during an incident involving the handling of test fuel at the Halden research reactor in Norway.

Innovation (Gen IV)

Russia's fast reactor BN-800 unit enters commercial operation.

UK Government Launches £20 million Nuclear Innovation Programme with focus on reactor design

Russia's Rosatom expects to work out the main specifications for construction of the SVBR-100 fast neutron reactor by mid-2017.

The Nuclear Research and Consultancy Group (NRG) announced that it has successfully measured nuclear material expansion during irradiation with micrometer accuracy at temperatures above 750°C. 

Fusion for Energy (F4E), the EU organisation managing Europe’s contribution to the International Thermonuclear Experimental Reactor (Iter)signed a €100m deal to develop robotics equipment for the €15bn Iter facility being built at Cadarache in southern France.

About New Nuclear Watch Europe (NNWE)

Chaired by Tim Yeo (Former MP and Chair of the Energy and Climate Change Select Committee) we campaign to ensure nuclear power is recognised as a desirable way for EU governments to meet their long-term security needs. 

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