UK nuclear investment environment "dire": Citigroup; Delays foreseen for U.K. nuclear power

[bananas]

http://www.reuters.com/article/2011/07/06/us-nuclear-citigroup-idUSTRE76548820110706

UK nuclear investment environment "dire": Citigroup
By Nina Chestney
LONDON | Wed Jul 6, 2011 11:46am EDT

LONDON (Reuters) - Britain's nuclear strategy is "uninvestable" for private clients, who are only likely to put money into new plants if the government shoulders more of the risks involved, Citigroup's head of European utilities research said on Wednesday.

Nuclear developers plan to build around 16 gigawatts of new nuclear capacity in the UK by 2025 to help meet the UK's tough climate targets, but the investment environment is "dire," Peter Atherton told journalists at a briefing in London.

"I don't think the UK will get the 16 gigawatts they are after by (then)," he said.

"Investors are demanding more of their returns up front in cash rather than dividends, indicating they don't trust the capital growth of the sector.

"The risk-reward balance for public equity market investors is massively negative and I can't see a way of making it attractive at all," Atherton added.

<snip>

That article has additional information worth reading.

The new reactors are already experiencing delays - and construction hasn't even started:

http://www.upi.com/Business_News/Energy-Resources/2011/06/24/Delays-foreseen-for-UK-nuclear-power/UPI-43001308921844/?spt=hs&or=er

Delays foreseen for U.K. nuclear power
Published: June 24, 2011 at 9:24 AM

LONDON, June 24 (UPI) -- British energy supplier Centrica said to expect a delay in the construction of Britain's first new nuclear power plant because of the reactor failure in Japan.

<snip>

Centrica, Britain's largest energy supplier, said there will be delays in a nuclear power station set for a 2018 launch because of fears triggered by Japan's disaster, the Daily Telegraph newspaper in London reports.

"There will be a delay, we just don't know by how much," Sam Laidlaw, the company's chief executive, was quoted as saying.

<snip>

Nuclear industry lobbying has also delayed the build-out of renewables,
some important history: "Secret nuclear talks held at No 10" http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=115x249033

[kristopher]

1. This is the money quote,

"Nuclear industry lobbying has also delayed the build-out of renewables"


A detailed look at how this also happens in another phase of nuclear plant lifetime is this analysis of the German effort to phase out their nuclear fleet. It is an excellent, easy to comprehend paper.

http://boell.eu/downloads/Froggatt_Schneider_Systems_for_Change.pdf

[kristopher]

2. Just read that they are dumping the promise of no subsidies for nuclear.

The LibDems' Clegg seems to be going along. They are turning themselves into the British equivalent of "The Third Way" and throwing their base under the bus in order to court the corporations.


http://www.presstv.com/detail/188517.html

[GliderGuider]

3. The future of civilian nuclear power ended at Fukushima.

These are just its death throes. Like all their cancer victims, now the industry itself is a "dead man walking". To all the nuclear corporatist CEOs: I hope it hurts you as badly as you've hurt us.

[kristopher]

4. Move along, nothing to see here except a commitment of decades worth of a major nation's

...energy budget to the wrong energy path.

http://www.guardian.co.uk/environment/2011/mar/11/nuclear-power-reason-energy-regulations?INTCMP=ILCNETTXT3487

"Move along", he says, "nothing to see here."

[GliderGuider]

5. What can we do about the past?

Aside from wring our hands, we can try to help the world make better choices in the future. Like not using nuclear power or coal to generate electricity any more. Like promoting nice stiff carbon taxes to cut down oil use. Like making sure that every attempted nuclear re-opening or proposed new build is met with stiff citizen opposition. There's lots to see here.

[kristopher]

6. Which begs the question of why you continue to claim nuclear is dead to downplay moves like the OP.

See also:
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=115x303971

[GliderGuider]

7. Every report I read of investment difficulties and construction delays due to "fears of Fukushima"

Reinforces my conviction that nuclear power is not going anywhere any time soon. As long as we keep up a solid level of public opposition, "peak nuke" is behind us.

Actually it's interesting that we've seen both Peak Nuke and Peak Oil in 2006. Now if we could just get Peak Gas under way we might have a chance against the Black Mountain.