The EDF board is meeting tomorrow to reach its 'final investment decision' on Hinkley C. It was meant to be a rubber stamp but now it's anything but, as EDF's share price sinks to a new low, unions and employee directors harden their opposition to the project, and projects in France, Finland and China run way over time and cost with severe technical problems and safety concerns.
… EDF's Hinkley C decision 'on a knife edge' as … China Waste hinkley-blockade-cut.jpg The EDF board is meeting tomorrow to reach its … a rubber stamp but now it's anything but, as EDF's share price sinks to a new low, unions …
Soon EDF will have to start the biggest, most complex and costliest nuclear decommissioning and radioactive waste management programme on earth, writes Paul Dorfman. But whereas Germany has set aside €38 billion to decommission 17 nuclear reactors, France has set aside only €23 billion to decommission its 58 reactors. When the real costs come in, they could easily bankrupt the company.
… EDF facing bankruptcy as decommissioning time … Waste Finance dampierre-en-burly-cut.jpg Soon EDF will have to start the biggest, most … French nuclear fleet? It's a question that EDF and its partners are fretting over, with …
China's nuclear investment into the UK raises more questions than it answers, writes Oliver Tickell. The £6bn committed is nowhere near enough to see Hinkley C to completion, and EDF has few options for raising the rest elsewhere. The only answer is more Chinese money, and it won't come cheap - not for Britain, nor indeed for France's vulnerable nuclear corporations.
… enough to see Hinkley C to completion, and EDF has few options for raising the rest … nuclear memorandum. And in a separate deal, EDF, owner of the Hinkley C nuclear power … also announced that the terms of its offer to EDF on the Hinkley Plant were finalised. Cue …
EDF's 'final investment decision' on the Hinkley C nuclear power station next week will be pure theatre, writes David Toke. The truth is that no concrete is to be poured until 2019 at the earliest. Meanwhile post-Brexit UK is running out of money to pay for it, and EDF is under investigation by the Financial Markets Authority for concealing information on Hinkley from investors.
… EDF to postpone Hinkley C start until 2019 or … Finance UK France hpc-ai-big-cut.jpg EDF's 'final investment decision' on the … UK is running out of money to pay for it, and EDF is under investigation by the Financial …
Nuclear giant EDF could be heading towards bankruptcy, writes Paul Brown, as it faces a perfect storm of under-estimated costs for decommissioning, waste disposal and Hinkley C. Meanwhile income from power sales is lagging behind costs, and 17 of its reactors are off-line for safety tests. Yet French and UK governments are turning a blind eye to the looming financial crisis.
… French taxpayers face huge nuclear bill as EDF financial crisis deepens Paul Brown | 8th … cruas-nuclear-cut.jpg Nuclear giant EDF could be heading towards bankruptcy, … The liabilities of Électricité de France (EDF) - the biggest electricity supplier in …
The cash-strapped French energy giant EDF may sell off profitable stakes in its in its eight existing UK nuclear reactors to raise money for the Hinkley Point C project. But with no example of the EPR design planned for Hinkley even near completion, it may all prove a risk too far.
… EDF may sell €3bn stake in UK nuclear to fund … The cash-strapped French energy giant EDF may sell off profitable stakes in its in … completion, it may all prove a risk too far. EDF is considering the sale of a €3bn (£2.2bn) …
Just as EDF was due to make its 'final investment decision' on Hinkley C, writes Oliver Tickell, another delay. In spite of incredibly generous subsidies, the company is unable to finance it. Its last hope is to persuade the French state to take a 10% stake in the doomed project.
… Unable to raise Hinkley C nuclear cash, EDF turns to French government Oliver Tickell … hinkley-point-nuclear-pow-cut.jpg Just as EDF was due to make its 'final investment … a lot of people had been waiting for - EDF workers, the UK government, and …
EDF in the UK may be propelled by its disastrous nuclear ambitions, writes Chris Goodall. But across the Atlantic it's another story: the company is the US's biggest wind developer, and selling its power, profitably, for under 40% of the price it has been promised for Hinkley C, including federal tax credits.
… EDF shows that wind makes better sense than … Corporations USA France UK Energy Finance edf-wind_farm1.jpg EDF in the UK may be propelled by its …
An occupation of EDF's site office for Hinkley C turned into a celebration today as the EDF Board postponed its 'final investment decision' for the tenth time. With strong opposition among French unions and the project afflicted by severe technical and financial problems, it's not just Hinkley that's going down, but the UK's entire nuclear programme.
… EDF's Hinkley C offices occupied as UK nuclear … China Finance Technology Energy Protest edf-occupied-cut.jpg An occupation of EDF's site office for Hinkley C turned into a …
Nuclear giant EDF can't afford to write off the £2 billion sunk into the Hinkley C nuclear plant, write Paul Brown & Oliver Tickell. So its cunning plan is to turn it into a 'nuclear zombie' - officially a live project, but actually stone cold dead - until EDF can find a way out of the hole it has dug itself into.
… UK France zombie-plague-cut.jpg Nuclear giant EDF can't afford to write off the £2 billion … project, but actually stone cold dead - until EDF can find a way out of the hole it has dug … when the French state-owned power company EDF again postponed a final decision on …
Another week, another series of disasters for EDF and it's Hinkley C nuclear power project, writes Oliver Tickell, with the company's credit rating downgraded partly due to its exposure to the project, and its Chinese partner CGN ruling out a takeover of the site. How much longer can the tragicomedy continue before the curtain falls?
… Another week, another series of disasters for EDF and it's Hinkley C nuclear power project, … credit rating agency has just downgraded EDF's debt from A1 to 'A2 outlook negative'. … And Hinkley C is an important cause of EDF's sinking down the credit rating charts. …
EDF has indefinitely postponed its Hinkley C nuclear plant in Somerset, England, as a new IEA analysis shows that its power will cost UK energy users three times more than it should, writes Oliver Tickell. A similar reactor in France is running six years late and three times over budget - and may never be completed.
… Nuclear Finance France UK Corporations hpc-edf-cut.jpg EDF has indefinitely postponed its Hinkley C … The French state-owned power company EDF has revealed that its Hinkley C nuclear …
French nuclear parastatal EDF is facing problem after problem - zombie nuclear projects in the UK, Finland, China and France, a fleet of 'beyond the grave' reactors, a dropping share price and its drooping credit rating. But is it really as bad as all that? Jonathon Porritt has exclusive access to the leaked Agenda of its latest board meeting. And the answer is - no. It's even worse.
… EDF's leaked Board Agenda: Zombie nuclear … nuclear zombies.jpg French nuclear parastatal EDF is facing problem after problem - zombie … seriously wouldn't want to be a Director of EDF at the moment. The agenda for an average …
In a values tug of war, many are asking whether London 2012 corporate sponsors like BP, Dow and EDF live up to the Olympic spirit?
… Will London 2012 sponsors BP, Dow, EDF and Rio Tinto tarnish the Olympic brand? … Health Society Olympics Bp Dow Chemicals EDF Rio Tinto 2finished_triple_dynamic.jpg The … 2012 corporate sponsors like BP, Dow and EDF live up to the Olympic spirit? In just …
Just as George Osborne is hoping to get China to invest billions in EDF's Hinkley C nuclear plant in Somerset, news from EDF's Flamanville nuclear site threatens to sink the project. French regulators are to demand another lengthy round of tests on its flawed reactor vessel. And if Flamanville isn't working by 2020, £17 billion of UK finance guarantees for Hinkley C will collapse.
… is hoping to get China to invest billions in EDF's Hinkley C nuclear plant in Somerset, news from EDF's Flamanville nuclear site threatens to … The situation is causing acute concern at EDF, the French parastatal that owns the …
Following high-level criticisms of the Hinkley C nuclear plant from HSBC and the Chancellor's father in law, EDF, the company in line to build the power station, is fighting back hard, writes Oliver Tickell. But it could all be too late to rescue the doomed project.
… from HSBC and the Chancellor's father in law, EDF, the company in line to build the power … on the table is between the UK Government and EDF - and it's not been signed. An added … is that the company making the reactors for EDF, Areva, is close to bankruptcy. On top of …
EDF's unfolding fiasco over the Hinkley C nuclear power station proves that nuclear power can come only at enormous financial cost to consumers and taxpayers, writes Caroline Lucas - and even then, investors are scared off by the risks. The government must get over its nuclear obsession and seize our renewable future.
… Consumerism Renewables westmill-cut.jpg EDF's unfolding fiasco over the Hinkley C … before a crucial board meeting yesterday at EDF (the French state owned energy giant … their concerns. When even staff working for EDF are raising serious doubts about numerous …
EDF has already moved heavy earth moving gear onto the Hinkley C nuclear power station construction site, writes Doug Parr - but that doesn't mean it's a done deal. On the contrary, a host of intractable problems are coming home to roost, and the increasingly troubled project is looking shakier than ever.
… surprise treble whammy - is it all over for EDF? Doug Parr Greenpeace Energydesk | 20th … Politics Finance cameron-hinkley-cut.jpg EDF has already moved heavy earth moving gear … Government in standing behind the companies EDF and Areva who are developing and deploying …
The Hinkley deal is a disastrous one for the UK, its taxpayers and energy users, writes Oliver Tickell. We will be locked into a punitively high electricity price, index-linked, from 2025 until 2060, and the cumulative cost of this one nuclear power station will be well in excess of £100 billion, or around £1 billion per year in today's money.
… to the Government, the 'deal' announced with EDF and Chinese nuclear companies to build a … public subsidy. The 'strike price' offered to EDF is a subsidy in all but name. And it's … of the kind that struck Fukushima. EDF will only be liable for the first €1.2 …
The French and the Chinese may be celebrating the UK's decision to press ahead with the Hinkley C 'nuclear white elephant', writes Oliver Tickell. But the deal is a disaster for the UK, committing us to overpriced power for decades to come, and to a dirty, dangerous, insecure dead end technology. Just one silver lining: major economic, legal and technical hurdles mean it still may never be built.
… monstrous white elephant after all. Image: EDF. The French and the Chinese may be … delayed the signing of the deal with EDF to confirm its subsidy package which is … allow the Government to "prevent the sale of EDF's controlling stake prior to the …
French energy giant EDF will today give the formal go-ahead for the Hinkley C nuclear power station in Somerset, writes Chris Goodall. But that's no reason for the UK to sign up to a disastrous deal that will cost us over £1 billion per year for 35 years - money that should be used to support the green technologies of the future.
… stop-epr-cut.jpg French energy giant EDF will today give the formal go-ahead for … French parliamentarians produced a report on EdF, the largely state-owned electricity … project "is probably the last opportunity for EdF to restore the reputation of the French …
The UK's plan to get China to build and finance new nuclear power stations is based on a wish and a prayer, writes Oliver Tickell. There is no reactor design, including new Chinese ones, that we can depend on to fill our impending power generation gap. This time, the last one out won't even have to turn out the lights.
… on to build new reactors in partnership with EDF at Bradwell, Essex, and Sizewell, Suffolk. … be generating power in 2012. According to an EDF statement in early September, it is … Agence France Presse revealed yesterday that EDF has requested to delay completion until …
With the sixth anniversary of the Fukushima disaster falling tomorrow, nuclear lobbyists are arguing over solutions to the existential crisis facing nuclear power, writes Jim Green. Some favour a multinational consolidation of large conventional reactor designs, while others back technological innovation and 'small modular reactors'. But in truth, both approaches are doomed to failure.
… is in its " worst situation ever " , former EDF director Gérard Magnin said in November … heavily indebted nuclear utilities Areva and EDF. The current taxpayer-funded rescue of the … come from French taxpayers. On February 14, EDF released its financial figures for 2016: …