Feeds

UK nobbles nukes with hefty clean-up bill

Pay for your mess

Providing a secure and efficient Helpdesk

Energy and Climate Change minister Christopher Huhne last week made nuclear energy a whole lot less attractive. The liability for clean-up in case of a nuclear accident is currently limited to £140m. The EU has proposed increasing this to €600m (£507m). But Huhne wants to raise it to £1bn (€1.2bn).

"We've already set out how operators will be required to put aside money from day one for their eventual clean up and waste storage, and now we're increasing substantially the liability to be taken on by operators," said Huhne. Higher liabilities mean finding insurance will be harder, and more expensive.

The 2008 Energy Act requires nuclear operators to pay into a Funding Decommissioning Programme (FDP), requiring them to set aside funds for clean-up. The government will acquire the spent fuel at a fixed unit price.

The shutdown schedule

Up to eight sites are up for grabs, with four consortia bidding. Output could total 19,000 MWe of new capacity (reactor details at the HSE, here). If all the proposed build-out occurs, nuclear could provide 35 to 40 per cent of UK electricity by 2030, higher than the 1990s peak of 30 per cent, according to an independent review conducted in 2009. Currently, the UK has 19 reactors, providing 18 per cent of our electricity – but all but one is scheduled to close by 2023.

The other problem is a skilled workforce that's older than in other sectors – and closer to retirement. Around 5 per cent of the nuclear workforce retires each year, at an accelerating rate, with 70 per cent projected to leave the industry by 2025.

"This will strip the industry of the most highly trained and experienced personnel. 2015 is a critical year when decommissioning of the current fleet overlaps with both the need to begin training the operators for new power plants and the decline in experienced staff from retirements," a report from technical skills council Cogent noted last year.

According to the Department of Energy and Climate Change, £40bn is pledged for investment into civilian nuclear energy, so perhaps a £1bn liability (for what is a very safe industry) isn't a deal-breaker. Investors are far more concerned that a floor price for carbon is established, guaranteeing a return.

Even if it is handicapped by a nuke-hostile minister, nuclear energy still looks more attractive to investors than renewables. Have a look at this Investors Chronicle piece, via Tony Newbury.

Compare what's in first place, at the top of the left hand column, with what's in last place, at the bottom of the right hand column. ®

Internet Security Threat Report 2014

More from The Register

next story
MARS NEEDS WOMEN, claims NASA pseudo 'naut: They eat less
'Some might find this idea offensive' boffin admits
LOHAN crash lands on CNN
Overflies Die Welt en route to lively US news vid
Comet Siding Spring revealed as flying molehill
Hiding from this space pimple isn't going to do humanity's reputation any good
Experts brand LOHAN's squeaky-clean box
Phytosanitary treatment renders Vulture 2 crate fit for export
No sail: NASA spikes Sunjammer
'Solar sail' demonstrator project binned
Carry On Cosmonaut: Willful Child is a poor taste Star Trek parody
Cringeworthy, crude and crass jokes abound in Steven Erikson’s sci-fi debut
Origins of SEXUAL INTERCOURSE fished out of SCOTTISH LAKE
Fossil find proves it first happened 385 million years ago
Human spacecraft dodge COMET CHUNKS pelting off Mars
Odyssey orbiter yet to report, though - comet's trailing trash poses new threat
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.