Nuclear Energy UK – ABWR http://abwr.org/ Wed, 03 Aug 2022 19:06:36 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://abwr.org/wp-content/uploads/2021/05/default-150x150.png Nuclear Energy UK – ABWR http://abwr.org/ 32 32 Gazprom blames sanctions on key turbine for limiting gas flow to Europe https://abwr.org/gazprom-blames-sanctions-on-key-turbine-for-limiting-gas-flow-to-europe/ Wed, 03 Aug 2022 18:07:37 +0000 https://abwr.org/gazprom-blames-sanctions-on-key-turbine-for-limiting-gas-flow-to-europe/ Gazprom said on Wednesday that Western sanctions had made it “impossible” to deliver a turbine crucial to Russia’s gas supply to Europe, indicating that Russia’s state gas monopoly would not increase flows until a likely energy crisis later this year. Russia blames the punitive measures for preventing the return of the turbine made by Siemens, […]]]>

Gazprom said on Wednesday that Western sanctions had made it “impossible” to deliver a turbine crucial to Russia’s gas supply to Europe, indicating that Russia’s state gas monopoly would not increase flows until a likely energy crisis later this year.

Russia blames the punitive measures for preventing the return of the turbine made by Siemens, which Gazprom says is forcing it to limit gas deliveries through the Nord Stream 1 pipeline.

Earlier Wednesday, German Chancellor Olaf Scholz blamed delays in the turbine deployment on Russia, accusing it of failing to take delivery of the equipment.

“It is obvious that nothing – absolutely nothing – is opposed to this turbine being transported to Russia and installed there,” he said.

Gazprom cut gas flows through NS1 to 60% capacity in mid-June, then cut them further to 20% last week as the dispute over turbines dragged on.

The company said on Thursday that Canadian, UK and European sanctions “and the gap between the current situation and Siemens’ contractual obligations” meant the turbine could not be delivered.

Dmitry Peskov, spokesman for Russian President Vladimir Putin, said Russia wanted guarantees that the UK branch of Siemens would not shut down the turbine remotely and that Canada would return any turbines sent there for repair.

Scholz made his remarks as he stood next to the turbine in the center of the row – an unusual intervention intended to show the German public that nothing was stopping Gazprom from taking delivery of the kit.

The turbine was undergoing maintenance in Canada, but the Canadian government initially refused to send it back to Russia, citing the sanctions regime it had imposed on the Kremlin over Ukraine. Ottawa then relented after Scholz asked them to exempt the kit from sanctions.

“What is important is to make it clear that this turbine can be deployed and used at any time,” Scholz said during his visit to the Siemens Energy plant in Mülheim an der Ruhr. “There is nothing mystical here. . . The turbine is there, it can be delivered, someone just has to say they would like to have it.

Christian Bruch, managing director of Siemens Energy, which made the turbine, said Gazprom had no justification for blaming the throttling of gas flows via Nord Stream 1 on the absence of the turbine.

European officials have criticized Russia for ‘weaponising’ gas supplies, saying that although there was a real problem with the turbines – which they dispute – Gazprom has refused to use alternative pipeline routes that have sufficient capacity to fill the gap on Nord Stream 1

Tom Marzec-Manser, an analyst at ICIS, said while most in the industry viewed the turbine problem as a Russian-made distraction, Gazprom said volumes on the line would not exceed 20% and could fall further. .

“Russia claims there is only one serviceable turbine left for NS1, which at some point in the near future will have to (or will be expected to have to) go offline for its own maintenance,” Marzec-Manser said. “At that time, the flows on the line to Germany could drop to zero.”

The German Chancellor also said it might make ‘sense’ to extend the life of Germany’s last nuclear power plants as reduced gas flows from Russia raise the prospect of a winter energy crisis in the greater economy of Europe.

Scholz said the three plants due to close at the end of this year represent only a “small proportion” of Germany’s total power capacity. “But it might still make sense” to let them run longer, he added.

Scholz said authorities would “draw our conclusions” from a stress test of the German power system currently underway and then decide what to do.

The question of whether Germany should continue to operate its nuclear power plants has become a huge bone of contention among the country’s three ruling coalition parties.

The smallest of the three, the Liberal Free Democrats, want factories to run longer while Scholz’s Social Democrats and the Greens oppose it.

But Scholz said an overhaul was underway in government. He hinted that some German states, such as Bavaria, might need to let their nuclear power plants run longer because they had fallen behind in building wind farms and new power grids. “And we have to take that into account,” he said.

Additional reporting by David Sheppard in London

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UN chief warns the world that humanity is ‘one misunderstanding away from nuclear annihilation’ | world news https://abwr.org/un-chief-warns-the-world-that-humanity-is-one-misunderstanding-away-from-nuclear-annihilation-world-news/ Mon, 01 Aug 2022 22:17:30 +0000 https://abwr.org/un-chief-warns-the-world-that-humanity-is-one-misunderstanding-away-from-nuclear-annihilation-world-news/ Humanity is “just a misunderstanding away from nuclear annihilation”, according to the UN chief in a stern warning. Secretary-General Antonio Guterres said crises “with nuclear overtones are smoldering”, citing the Middle East, North Korea and Russiathe invasion of Ukraine. It comes as America accuses Russia of using Ukraine’s biggest nuclear power plant, which it seized […]]]>

Humanity is “just a misunderstanding away from nuclear annihilation”, according to the UN chief in a stern warning.

Secretary-General Antonio Guterres said crises “with nuclear overtones are smoldering”, citing the Middle East, North Korea and Russiathe invasion of Ukraine.

It comes as America accuses Russia of using Ukraine’s biggest nuclear power plant, which it seized at the start of the war, as a “nuclear shield” in its attacks.

Image:
A Russian soldier at the Zaporizhzhia nuclear power plant. Photo: AP

US Secretary of State Antony Blinken said Washington was “deeply concerned” that Moscow was now using the Zaporizhzhia plant as a military base and firing on Ukrainian troops around it.

He said: “The Ukrainians cannot retaliate for fear that there will be a terrible accident involving the nuclear power plant.”

Meanwhile, Mr Guterres said “geopolitical weapons are reaching new heights”, nearly 13,000 nuclear weapons are in arsenals around the world and countries seeking “false security” are spending hundreds of billions of dollars. dollars in “doomsday weapons”.

He said: “All of this at a time when the risks of proliferation are rising and the safeguards to prevent escalation are weakening.”

Mr Guterres spoke of the need to tackle “latent tensions” in the Middle East and Asia.

“By adding the threat of nuclear weapons to ongoing conflicts, these regions are headed for disaster. We must redouble our support for dialogue and negotiation,” he continued.

He said today that humanity was ‘just a misunderstanding, a miscalculation away from nuclear annihilation’.

He was speaking at the UN to discuss the Non-Proliferation Treaty (NPT), which came into force in 1970, aimed at preventing the spread of nuclear weapons and ultimately achieving a nuclear-free world.

He told ministers, officials and diplomats in New York that the month-long conference was being held “at a critical time for our collective peace and security” and “at a time of nuclear danger not seen since the height of the cold War”.

Read more: North Korea fires suspected intercontinental ballistic missile and two other missiles, Seoul says

North Korean leader Kim Jong Un
Image:
North Korean leader Kim Jong Un

“The world is concerned that the threat of catastrophe from the use of nuclear weapons has reappeared,” he told the assembly, and “the path to a world without nuclear weapons has suddenly become even more difficult “.

Which countries have nuclear weapons?

Under the NPT, the five original nuclear powers – the United States, China, Russia (then the Soviet Union), the United Kingdom and France – agreed to negotiate for the elimination end their arsenals.

And nations without nuclear weapons have promised not to acquire them in exchange for a guarantee that they can develop nuclear energy for peaceful purposes.

It has the broadest membership of any arms control agreement, with 191 member countries.

India and Pakistan, which did not join the NPT, continued to have nuclear weapons programs, as did North Korea, which ratified the pact but later announced its withdrawal.

Non-signatory Israel is suspected of having nuclear weapons but has not confirmed or denied it.

US Secretary of State Antony Blinken addresses the Nuclear Non-Proliferation Treaty Review Conference in New York
Image:
US Secretary of State Antony Blinken addresses the Nuclear Non-Proliferation Treaty Review Conference in New York

The New York meeting is “an opportunity to define the measures that will avert certain catastrophes and put humanity on a new path towards a world without nuclear weapons”, Guterres said.

He called on nations to strengthen and reaffirm “the 77-year-old norm against the use of nuclear weapons”; working tirelessly to eliminate nuclear weapons with new commitments to reduce arsenals; and promote the peaceful use of nuclear technology.

“Future generations are counting on your commitment to come out of the abyss,” Guterres said.

“Now is the time for us to take up this fundamental test and lift the cloud of nuclear annihilation once and for all.”

Days after Russia’s February 24 invasion, President Vladimir Putin put his country’s deterrent forces – which include nuclear weapons – on high alert, citing what he called aggressive statements by leaders NATO and Western economic sanctions against Moscow.

But in a letter to conference participants, Mr Putin wrote: “There can be no winners in a nuclear war and it should never be started, and we stand for equal and indivisible security for all members of the global community”.

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Shutting down a nuclear power station adds pressure on Britain’s electricity supply https://abwr.org/shutting-down-a-nuclear-power-station-adds-pressure-on-britains-electricity-supply/ Sat, 30 Jul 2022 15:00:00 +0000 https://abwr.org/shutting-down-a-nuclear-power-station-adds-pressure-on-britains-electricity-supply/ One of Britain’s six remaining nuclear power stations is set to close next week, adding to tensions over electricity supplies amid Russia’s war on Ukraine. Hinkley Point B, near Bridgwater in Somerset, will stop generating at 10am on Monday morning, 46 years after it first sent electricity to the grid. The 1.1 gigawatt plant, owned […]]]>

One of Britain’s six remaining nuclear power stations is set to close next week, adding to tensions over electricity supplies amid Russia’s war on Ukraine.

Hinkley Point B, near Bridgwater in Somerset, will stop generating at 10am on Monday morning, 46 years after it first sent electricity to the grid.

The 1.1 gigawatt plant, owned and operated by EDF, was capable of producing enough power for around 1.7 million homes a year, but is closing due to age, with hairline cracks appearing in its bricks of graphite.

Its closure has been long planned, but comes at a time of growing energy security concerns, with Russia limiting gas flows to Europe.

EDF’s nuclear fleet in France is also producing far less than normal, with half of its reactors out of service due to maintenance and corrosion issues, meaning it is less able to export energy. electricity to its neighbours, including Great Britain, as usual.

Worst-case modeling in Whitehall has shown that up to six million British homes could face blackouts if Russia continues to throttle supply to Europe.

National Grid last week said it expected to be able to keep the lights on with plenty of buffer reserves, but that assumes it will be able to draw heavily on mainland power supplies.

Kwasi Kwarteng, the business secretary, has asked coal-fired power stations to stay open longer than planned to provide relief supplies this winter.

In May, colleagues suggested he was looking into whether Hinkley Point B could also do this. However, EDF said it was then too late to try to keep it open for the winter, given the detailed safety record required.

Nuclear power provides around 18 per cent of Britain’s electricity during the year, but this is set to drop as all but one of the aging fleet shut down this decade, raising new concerns about to long-term energy security.

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What is the United States doing to reduce energy dependence? https://abwr.org/what-is-the-united-states-doing-to-reduce-energy-dependence/ Sun, 24 Jul 2022 16:41:15 +0000 https://abwr.org/what-is-the-united-states-doing-to-reduce-energy-dependence/ Related practices and jurisdictions News this week that massive environmentally sensitive intake heads are being installed for a new nuclear power station being built in Somerset, England. The 21st century factory also includes new “core catcher” technology to prevent what happened in Fukushima several years ago. The nuclear power plant is part of a fleet […]]]>

News this week that massive environmentally sensitive intake heads are being installed for a new nuclear power station being built in Somerset, England. The 21st century factory also includes new “core catcher” technology to prevent what happened in Fukushima several years ago.

The nuclear power plant is part of a fleet of power plants backup Britain’s already well-developed ability to generate electricity from the wind. Factories take about a decade to plan and license and another decade or so to build.

The costs and licensing barriers to developing nuclear energy in the United States have long pushed our energy industry in different directions, including hydraulic fracturing, or hydraulic fracturing, to extract oil and gas. Our climate emergency is creating some pressure, more effective in some states than many others, to find alternative ways to generate electricity. But the costs and hurdles facing wind power projects are too similar to those that have doomed the nuclear power industry in the United States.

All this leads me to wonder how long it will take us to catch up with our European partners in the transition from fossil fuels as the source of our electricity and will this transition be too late.

{The UK government is planning a fleet of new nuclear power stations to produce 24 gigawatts of electricity, providing a stable backup for UK offshore wind generation. Hinkley is the first atomic power station to be built in decades and plans to build more have already been shelved. Elsewhere, EDF’s Sizewell C project on the Suffolk coast won planning approval on July 20, a process that took around 10 years. The government will need to accelerate to get closer to its nuclear production target.}

©1994-2022 Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, PC All rights reserved.National Law Review, Volume XII, Number 205

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Nuclear: why now? https://abwr.org/nuclear-why-now/ Fri, 22 Jul 2022 15:16:50 +0000 https://abwr.org/nuclear-why-now/ When the European Parliament recently voted to classify nuclear power as a “green” technology, it marked an important moment for the global energy mix. This decision confirms that the transition to carbon-free energy cannot take place without considerably increasing the use of nuclear energy. At the same time, the energy crisis caused by Russia’s invasion […]]]>

When the European Parliament recently voted to classify nuclear power as a “green” technology, it marked an important moment for the global energy mix. This decision confirms that the transition to carbon-free energy cannot take place without considerably increasing the use of nuclear energy.

At the same time, the energy crisis caused by Russia’s invasion of Ukraine has forced policymakers to focus on energy security, especially those heavily dependent on imported energy. One of the main advantages of nuclear energy is the fact that nuclear energy comes from a domestic site.

A number of individual countries have also recently shown a similar reversal in long-standing negative sentiment towards nuclear power, which had been influenced by incidents such as the 2011 Fukushima disaster in Japan.

For example, in France, the government moved to fully nationalize electricity supplier EDF, currently Europe’s largest nuclear power operator, in an apparent attempt to address its reactor problems.

Meanwhile, the British government has announced plans to invest in nuclear power, which could also extend the life of existing nuclear reactors. The question has even arisen in Germany – which is in the process of closing its nuclear reactors – due to the energy pressure induced by the country’s dependence on Russian gas. Beyond Europe, Japan has also announced measures to restart a number of its nuclear reactors.

Call for investors

Nuclear power offers the advantages of predictability and capacity over harnessing the power of the sun or wind. Despite the long-term nature of power plant planning, we believe its appeal to investors is strong, particularly when energy prices are high and when renewable energy storage is still at an early stage of development. development.

Nuclear companies are also beginning to invest in innovation, investigating new technologies, such as potentially reducing the impact of radioactive spent fuel, which is currently disposed of through an expensive and highly specialized process known as vitrification.

In addition to the challenges associated with waste disposal, nuclear power plants have a number of other important safety requirements. However, we believe that with the changes looming on the horizon from the EU and governments, it is likely that removing the necessary regulatory hurdles will become easier.

All of these factors are beginning to influence the direction of investments; where previously nuclear was not an option for fund managers, this is starting to change.

As part of Canada Life Asset Management’s global equities team, we believe that nuclear energy is a transitional fuel of choice, allowing countries to meet their energy needs while meeting environmental objectives.

Over the past year, we have expanded our nuclear power investment theme, through investments in Cameco, BWX Technologies and, most recently, NuScale.

  • Cameco, a Canadian company, is one of the world’s largest operators of uranium, an essential input to the operation of a nuclear power plant. Growth in nuclear power is fueling long-term demand for the ore, which is mined primarily in Canada and Kazakhstan. As part of the Western uranium supply chain, a secure source of uranium is crucial, especially in light of current energy supply chain issues.
  • belonging to the United States BWX Technologies powers US Navy submarines and aircraft carriers using nuclear reactor propulsion, providing both the strategic and environmental benefits of less frequent refueling. It has a strong commercial position as the only company in North America with a commercial license to process highly enriched uranium, as well as long-term contracts with the United States Navy as part of its fleet modernization, a strategic priority. The company is also working in the area of ​​medical isotopes by helping to better produce molybdenum-99 for use in diagnostic imaging.
  • NuScaleName, another American company, is a pioneer in the use of small modular reactors (SMR), whose reduced size compared to existing nuclear power plants allows faster construction (about three years instead of seven) and smaller sites. They also have security systems that allow them to operate off-grid which makes them more resilient to shutdowns.

For countries to have any hope of meeting their environmental goals and achieving energy security, nuclear power must make up a much larger share of the global energy mix – and that is now clearly the direction to go.

It seems surprising that the sustainable finance community often uses negative screens to prevent investments in nuclear energy when it appears to us to be the only zero-carbon fuel capable of reliably providing base load capacity. The measures taken by the European Parliament should help asset managers to invest in this once controversial sector

Bimal Patel is Senior Fund Manager at Canada Life Asset Management

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UK and EU must ‘urgently’ agree contingency energy plan, say Lords https://abwr.org/uk-and-eu-must-urgently-agree-contingency-energy-plan-say-lords/ Wed, 20 Jul 2022 23:01:40 +0000 https://abwr.org/uk-and-eu-must-urgently-agree-contingency-energy-plan-say-lords/ The British government should “urgently” strike a deal with the EU to cooperate on emergency energy supplies in the event that Russia triggers a severe shortage by cutting off gas exports to the continent, a committee said on Thursday. influential in the House of Lords. The Lords Economic Affairs Committee has warned there is no […]]]>

The British government should “urgently” strike a deal with the EU to cooperate on emergency energy supplies in the event that Russia triggers a severe shortage by cutting off gas exports to the continent, a committee said on Thursday. influential in the House of Lords.

The Lords Economic Affairs Committee has warned there is no concrete agreement between Britain and the bloc on how to handle an energy supply emergency, despite their interdependence on trade gas and electricity via submarine cables and pipelines.

“This is something we need to grasp urgently,” committee chairman Lord George Bridges told the Financial Times. “What was considered very unlikely, but a few months ago, now seems more likely, and so we need to have a plan.”

Bridges’ comments came after the EU on Wednesday asked all member states to cut gas demand by 15% from August 1, warning of the serious risk of further Russian supply cuts.

Gas interconnectors between Britain and the mainland have operated at maximum capacity in recent months to help the bloc fill its gas storage facilities ahead of winter, with large volumes of liquefied natural gas arriving at UK ports before being sent to the mainland. However, Britain, which has limited gas storage capacity, has traditionally relied on imports from the EU during the winter when demand is greatest.

Unusually, Britain has also been a net exporter of electricity to the EU since April, as gas-fired power plants take advantage of increased LNG shipments to generate electricity for member states, including the France, whose vast network of nuclear reactors is struggling. Britain normally depends on net imports from the continent, particularly if wind and solar farms do not generate significant amounts.

The commission’s plea echoes the words of ENTSOG, which represents European gas groups. He said last month that political arrangements were needed across Europe “to know what we can expect from each other as neighboring countries in the event of a serious crisis”.

Individual countries each have contingency plans, but energy companies have warned that these are designed to deal with short-term outages of, say, a gas field or a pipeline rather than disasters. prolonged shortages.

The EU on Wednesday published its own contingency plan to save gas. The plan noted that, since the start of this year, the block had received an additional 14 billion cubic meters of gas via pipelines from four regions, including the United Kingdom, but did not mention a supply agreement with the Great Britain. -Brittany.

“The [European] The Commission will remain vigilant to protect the single market,” he added.

Under the UK’s gas contingency plan, interconnectors would be shut down by National Grid – which oversees the energy system – in the event of a severe shortage threatening the stability of the system.

An EU official insisted the European Commission was “in close contact with the UK Government on these matters”, adding that the UK-EU Trade and Cooperation Agreement post- Brexit set out rules “for cooperation in risk preparedness and an obligation not to endanger mutual security of supply”.

The British government did not directly respond to the question of an energy co-operation agreement, but insisted that the country had “no gas or electricity supply problems” and was “fully prepared to any scenario”.

The Economic Affairs Committee also called on ministers to publish an energy demand reduction strategy, following an inquiry into security of supply and how to achieve net zero emissions.

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Energy crisis lifeline as new £75m fund opens to boost UK nuclear power generation | Science | New https://abwr.org/energy-crisis-lifeline-as-new-75m-fund-opens-to-boost-uk-nuclear-power-generation-science-new/ Tue, 19 Jul 2022 10:17:00 +0000 https://abwr.org/energy-crisis-lifeline-as-new-75m-fund-opens-to-boost-uk-nuclear-power-generation-science-new/ The Nuclear Fuel Fund will provide grants for projects that have the potential to grow the domestic nuclear fuel sector in the UK. It is hoped that the new treasury fund will encourage investment and the expansion of new nuclear infrastructure. The funding will go towards the design and development of new facilities. Business and […]]]>

The Nuclear Fuel Fund will provide grants for projects that have the potential to grow the domestic nuclear fuel sector in the UK. It is hoped that the new treasury fund will encourage investment and the expansion of new nuclear infrastructure.

The funding will go towards the design and development of new facilities.

Business and Energy Secretary Kwasi Kwarteng said: ‘We have big plans to boost UK nuclear power so it makes perfect sense to make sure we have a domestic solid fuel supply chain. and resilient.

“This funding will launch projects in the UK and generate private investment in facilities that will power the nuclear reactors of today and tomorrow, boosting our energy security while creating jobs.”

The government support will encourage private sector co-investment in the projects and aims to help the UK build on its “legacy of innovation and nuclear fuel production”.

As the UK considers its future nuclear needs, there could be a wider range of reactor types to draw from.

This will see the nuclear fuel sector become even more important.
A secure and resilient fuel supply for domestic reactors will build on this, ensuring they can be called upon to power the economy.

Up to £75 million in grants will be awarded to support the development costs of investment in new nuclear fuel capacity in the UK, supporting a range of reactor types and sizes, including small and modular reactors. advances.

The Nuclear Fuel Fund will also help companies to access new markets both domestically and internationally, and to retain and create skills and know-how in parts of the country – with the sector having a strong presence in the North -West.

READ MORE: Tory MPs have pleaded with leadership candidates to stop televised debates

This follows the announcement that the government has no plans to install 600,000 heat pumps a year by 2028, with the UK currently only installing 60,000 a year.

Electricity system operator National Grid has warned government grants of £450m will only support 90,000 installations.

National Grid ESO added: “To keep the government’s target of installing 600,000 heat pumps a year by 2028 on track, it will need to install an average of over 90,000 a year over the next three coming years. Further measures will be needed as well as cost reductions for heat pumps supplied by industry.

National Grid’s report explored the supply and demand challenges facing the UK’s energy infrastructure.

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He looked at the possibility of Putin cutting gas supplies to Europe, as well as consumer behavior.

He warned that households were unlikely to consider buying green energy equipment, such as heat pumps and solar panels.

He said: “In almost every case, a significant increase in the adoption of these technologies is needed by consumers, with a doubling or even a tripling needed over the next 13 years in some cases.”

Fintan Slye, Executive Director of National Grid ESO, said: “Dramatically accelerating the transition to a decarbonized energy system can help address security and affordability issues while achieving net zero milestones.”

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High construction cost to double the cost of power generation https://abwr.org/high-construction-cost-to-double-the-cost-of-power-generation/ Sun, 17 Jul 2022 18:40:00 +0000 https://abwr.org/high-construction-cost-to-double-the-cost-of-power-generation/ The cost of electricity generation per kilowatt from the Rooppur nuclear power plant in Bangladesh will be 9.36 cents compared to 5.34 cents for a similar plant in Kudankulam, Tamil Nadu, India. The high construction cost of the Rooppur nuclear power plant is said to be the reason for the excessive cost of potential electricity […]]]>

The cost of electricity generation per kilowatt from the Rooppur nuclear power plant in Bangladesh will be 9.36 cents compared to 5.34 cents for a similar plant in Kudankulam, Tamil Nadu, India.

The high construction cost of the Rooppur nuclear power plant is said to be the reason for the excessive cost of potential electricity generation.

In Bangladeshi currency, the cost of generating electricity per unit of two RNPP reactors will be 7.94 Tk while their establishment costs are $12.65 billion, according to a study published by Springer-Verlag GmbH. , Germany, earlier this year.

In Indian currency, the cost of producing electricity from the Kudankulam 3 and 4 power plants will be 3.93 rupees since their construction costs are around 5.38 billion dollars.

A research paper jointly authored by academics Gour Gobinda Goswami and Umama Rahman of North-South University in Bangladesh and Mehdi Chowdhury of Bournemouth University Business School in the UK estimated the levelized cost of electricity from nuclear power plants at using a financial model in both countries.

The levelized cost of electricity, or levelized cost of energy, is a measure of the average net present cost of producing electricity for a generator over its lifetime.

The university researchers did a comparative study on two power plants since their construction and found them almost identical in terms of power generation.

Bangladesh and India have benefited from financial and technical assistance from Russia for the establishment of the reactors.

Using the discounted present value method developed by Du and Parsons (2009), MIT (2003; 2009; 2018) and Singh et al. (2018), the researchers noted that the levelized cost of power plant electricity in India would be lower than in Bangladesh for several reasons.

Research reveals that the construction cost is more than double in Bangladesh compared to India; in addition, Bangladesh bears an additional external cost of $187.5 million, according to the research.

Since Bangladesh established its first nuclear power plant, it bears a cost of installing different facilities such as telecommunications, transportation, establishing water pipe and establishing power grid, while Kudankulam 3 and 4 are India’s 25th and 26th nuclear reactors, according to the document.

He said the cost per unit of nuclear power in Bangladesh would be 70% higher than a comparable plant in India, mainly because the construction cost was more than double in Bangladesh than in India.

Part of the reason for the high construction costs is the 69% higher interest cost when building a nuclear power plant here, while the other reason is the 69% higher overnight costs, have observed the researchers.

The former chief economist of the World Bank office in Dhaka, Zahid Hussain, noted that the research paper could have been more meaningful if the researchers had explained why there was a big difference in the construction costs of the reactors in two countries.

“The question, however, remains unanswered,” he said.

Zahid said the research should yield more information about the Kudankulam 1 and 2 reactors built at a cost of $2.6 billion to produce 1,000 megawatts of electricity by 2016 after they started up in 2002.

That the two RNPP reactors have a capacity to generate 1,200 megawatts of electricity but are almost five times more expensive, as research shows, than the Kudankulam 1 and 2 reactors built 10 years ago seems surprising, a he added.

According to the Executive Director of the Policy Research Institute, Ahsan H Mansur, the cost of building the country’s first nuclear power plant was very high since its contractor was appointed without any international tender.

Calling the contract process non-transparent, Mansur said the country could have produced the same amount of electricity for less than $3 billion.

He argued that the country’s debt sustainability would be strained due to the repayment of the loan to Russia taken out for the nuclear power plant.

The first installment of $569 million in loans is due in March 2027.

The researchers, however, hinted that the power plant would be profitable if the government could sell electricity per kilowatt above 7.94 Tk.

They said that in Bangladesh, the cost of generating electricity was always higher than the price of electricity.

The power sector has been subsidized by Taka 52,260 crore over the past 10 years due to higher production cost compared to lower selling price, they argued.

]]> Reshaping Britain’s energy regime in an uncertain political landscape | Bracewell LLP https://abwr.org/reshaping-britains-energy-regime-in-an-uncertain-political-landscape-bracewell-llp/ Fri, 15 Jul 2022 23:12:32 +0000 https://abwr.org/reshaping-britains-energy-regime-in-an-uncertain-political-landscape-bracewell-llp/ Introduction The UK Energy Security Bill, first promised in 2021 and presented to Parliament on July 6, 2022, contains a wide variety of measures which the UK government says will address the energy trilemma of environmental sustainability, safety and affordability. The bill’s introduction was overshadowed by the UK government’s departure of 37 ministers and MPs […]]]>

Introduction

The UK Energy Security Bill, first promised in 2021 and presented to Parliament on July 6, 2022, contains a wide variety of measures which the UK government says will address the energy trilemma of environmental sustainability, safety and affordability.

The bill’s introduction was overshadowed by the UK government’s departure of 37 ministers and MPs on the same day, triggering the beginning of the end for Prime Minister Boris Johnson. The Bill, touted by some as the most important energy legislation for a decade, therefore begins its legislative journey through the UK Parliament against the backdrop of a volatile and uncertain political landscape. A number of potential prime minister candidates have been openly critical of Johnson’s climate change agenda, and as a result some elements of the bill could be politically controversial.

However, as currently drafted, the bill would have a significant impact on the UK energy regime. The 26 measures of the bill aim to achieve three main objectives:

  • leveraging private investment in clean technologies and building a local energy system;
  • ensuring the safety, security and resilience of the UK’s energy system; and
  • reform the UK’s energy system to protect consumers from unfair prices.

Clean technologies

The UK government has recently focused on climate change targets and policies designed to limit UK emissions, with the UK being the first major economy in the world to enshrine a commitment to achieve net zero emissions from greenhouse gases by 2050 into law in 2019. The UK government says the bill will help generate £100 billion of private sector investment by 2030 in industries to diversify the Britain’s energy supply and create around 480,000 jobs by the end of the decade. While most of this investment is expected to be in offshore wind, the government also wants to promote investment in emerging technologies such as green hydrogen production and carbon capture, use and storage, including following measures:

  • Licence – Establish a licensing framework and regulatory system for hydrogen and carbon dioxide transport and storage infrastructure.
  • Hydrogen tests – With specific regard to hydrogen, ensure that the government can complete its hydrogen village trial (connecting residential consumers in the relevant village to hydrogen instead of natural gas) by 2025, by extending the trials subsequent to large urban areas. The results of these trials will inform the government’s decision on the role of hydrogen in the UK’s thermal decarbonisation.
  • Battery and hydraulic storage – Review and seek to remove remaining barriers for developers of battery-based and pumped hydroelectric energy storage projects, including clarifying storage as a distinct subset of generators under the 1989 Act on electricity, following a similar decision by Ofgem in 2020. These sectors have seen strong progress in recent years, and storage will be crucial as intermittent renewable generation comes online.

Energy security

The Russian invasion of Ukraine has drawn attention to the energy security of all European governments. Although the UK is not itself particularly dependent on Russian gas (with only a very small percentage of its gas supply coming from Russia), it remains exposed to high prices in global energy markets and, therefore, security of energy supply for a robust domestic system means that the UK oil, gas and nuclear power sectors will continue to play a role in the UK’s energy supply at least in the medium term .

Accordingly, the bill sets out measures that address the following matters relating to the oil and gas industry:

  • Environmental standards – Existing legislation will be updated to ensure that the offshore oil and gas environmental regulatory regime maintains high standards for habitat protection and pollution control.
  • Change of control of players in the oil and gas industry – The bill aims to safeguard “responsible ownership” of the UK’s oil, gas and carbon storage infrastructure. The North Sea Transition Authority (“NSTA”) will be empowered to identify and prevent any potentially undesirable change in control of an oil licensee company before it occurs, rather than having to seek to remedy it after it has occurred (as is the case under the existing licensing structure). Undertaking a change of control without the consent of the NSTA could result in the revocation of the license. In practice, this is unlikely to result in a significant change, as companies currently require a prior “comfort letter” from the NSTA regarding a change of control in any case, but this amendment will formalize this procedure.
  • Fuel reserve – The Secretary of State will be empowered to maintain the continuity of basic fuel supplies and to ensure that industry maintains or improves its resilience to reduce the risk of emergencies affecting fuel supplies. These measures include directive power (for example, ordering an operator to prioritize the production of a particular fuel if it is considered that there is a threat to supply) and information power. (for example, imposing on large operators the obligation to report incidents which pose a significant threat to the continuity of the fuel supply).

With regard to nuclear energy, the UK government aims to attract investment with the following measures:

  • Public liability – The Bill will strengthen the nuclear third party liability regime by enabling the UK to join a second international treaty on nuclear third party liability, the Supplementary Compensation Convention (“CSC”). The CSC is an international convention designed to provide a clear path to compensation for damages in the event of a nuclear accident. It is an autonomous, independent and complementary instrument to the Paris and Vienna Conventions.
  • Licensing requirements – The Nuclear Installations Act 1965 will be amended to clarify that fusion power installations will not be subject to nuclear site licensing requirements and therefore will not be regulated by the same regulatory regime as nuclear fission, but will instead be regulated by the Health and Safety Executive and environmental regulators.

Consumer protection

Global energy prices have skyrocketed in 2022, especially after Russia invaded Ukraine. This had a significant impact on consumers, both industrial and domestic. Key measures in the bill designed to protect consumers include:

  • the possibility of extending the energy price cap beyond 2023 if the relevant extension conditions are met, to ensure that the protection of domestic supply consumers is not prematurely removed;
  • giving powers to the Competition and Markets Authority to review energy network mergers, which the government says could save consumers up to £420m over the next 10 years by protecting them from increased network prices as a result of mergers;
  • support the development of heating networks and enable the zoning of heating networks in England; and
  • the creation of a new independent body, the Future System Operator (known in the bill as the Independent System Operator or ISOP), which will be responsible for the strategic oversight of electricity and gas systems.

Comment

When introducing the bill, Business and Energy Secretary Kwasi Kwarteng said: “To ensure we are no longer held hostage by rogue states and volatile markets, we must accelerate plans to build a truly clean, affordable and developed energy system in Britain.

This is the biggest reform of our energy system in a decade. We will cut red tape, secure investment in the UK and capture as much global market share as possible in new technologies to make this plan a reality.

There is no doubt that the bill will have an impact on the UK’s energy regime. However, critics have pointed out that the measures detailed in the bill largely mimic the focus areas of the recent Energy security strategyand do not go far enough in relation to certain measures which will have an impact on climate change, in particular with regard to onshore wind, solar and energetic efficiency. In addition, the bill does not include any reform to the UK’s planning and permitting system which some industry players say prevents faster deployment of more power generation capacity. renewable energy in the UK, particularly with regard to offshore wind.

It is unclear whether the bill will go through the parliamentary process and be passed into law given the turbulent state of British politics, but second reading in the House of Lords is currently scheduled for July 19, 2022.

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More invested in nuclear fusion in the last 12 months than the last decade https://abwr.org/more-invested-in-nuclear-fusion-in-the-last-12-months-than-the-last-decade/ Thu, 14 Jul 2022 11:01:08 +0000 https://abwr.org/more-invested-in-nuclear-fusion-in-the-last-12-months-than-the-last-decade/ Big bang moment: Nuclear fusion produces clean energy by fusing together atomic nuclei. It is the reaction that powers the Sun and sustains life on Earth According to new industry figures, more investment has gone into nuclear fusion in the past 12 months than in the past decade. The clean energy solution has attracted around […]]]>

Big bang moment: Nuclear fusion produces clean energy by fusing together atomic nuclei. It is the reaction that powers the Sun and sustains life on Earth

According to new industry figures, more investment has gone into nuclear fusion in the past 12 months than in the past decade.

The clean energy solution has attracted around $2.8bn (£2.5bn) in investment globally over the past year, up from $1.9bn (£1.6bn pounds sterling) in total over the past decade.

The solution produces clean energy by fusing atomic nuclei. It is the reaction that powers the Sun and in turn powers life on Earth.

However, replicating the reaction for energy has so far proven difficult for scientists, requiring more energy to trigger the reaction than it can currently generate.

Nonetheless, the energy solution is favored by the government, and plans are in place for the UK’s first prototype fusion power station to support rapid commercialization, with five places vying to house it.

There was also a breakthrough at the end of 2021, when researchers at the Joint European Torus (JET) facility in Oxford managed to release a record 59 megajoules of fusion – almost tripling the previous record of 21.7 megajoules from 1997.

Nuclear fusion is also safer than traditional fission nuclear energy, which splits nuclei rather than fusing them together to produce energy. Unlike nuclear fission, with fusion there is no risk of radioactive waste and the reactor materials can be recycled within 100 to 300 years.

Investment in fusion is still overshadowed by major energy sources, but according to the Fusion Energy Associationeight new UK companies have entered the merger space in the past 12 months.

Andrew Holland, Commercial Group Managing Director, said: “This funding will allow merger companies to push towards their ‘Kitty Hawk moment’ in the years to come. From there, companies will quickly build the pilot plants that will prove fusion power is ready for the market.

“If we make the necessary investments now, fusion energy should provide the basis for prosperity, safety and security.”

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