Nuclear power was originally sold on a lie, writes Dave Elliott. While we were being told it would make electricity 'too cheap to meter', insiders knew it cost at least 50% more than conventional generation. Since then nuclear costs have only risen, while renewable energy prices are on a steep decline. And now the nuclear behemoths are crumbling ... not a moment too soon.
News that one of the world's biggest nuclear power constructors, Westinghouse, has filed for bankruptcy in with debts of over $10 billion has put the entire sector on notice and issued a dire warning to nuclear investors everywhere, writes Jim Green. Among the likely casualties: the UK's Moorside nuclear complex in Cumbria.
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.
Donald Trump's scheme to rebuild US infrastructure could be among the world's greatest ever financial heists, writes Pete Dolack. He has chosen the most expensive, anti-democratic way to do the job, through the mass privatization of priceless public assets - sticking users and taxpayers for exorbitant charges for decades to come, while banks and speculators reap the profits.
A legacy of lies and covered-up accidents has left nuclear energy with a serious credibility gap, writes Paul Brown. But poor safety is only the beginning of the industry's problems. With 'new improved' reactor designs all running late and way over budget, any nuclear revival can only be sustained at massive, unaffordable taxpayer cost.
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.
The long term problems of what to do with nuclear waste remain entirely unsolved, writes Andrew Blowers. Yet governments and the nuclear industry continue to peddle their untenable 'bury and forget' policy of deep geological disposal, which only unloads the toxic legacy of modern day nuclear power and weapons onto uncountable future generations.
'Fast breeder' reactors are promoted by nuclear enthusiasts as the clean, green energy technology of the future, writes Jim Green. But all the evidence tells us they are a catastrophic failure: complex, expensive, unreliable and accident-prone. Is Japan's decision to abandon its Monju reactor the latest nail in the coffin of a dead technology? Or the final stake through its rotten heart?
A new report finds that 28 nuclear reactors, 18 of them EDF plants in France and one at Sizewell in the UK, are at risk of failure 'including core meltdown' due to flaws in safety-critical components in reactor vessels and steam generators, writes Oliver Tickell. The news comes as EDF credit is downgraded due to a growing cash flow crisis and its decision to press on with Hinkley C.
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.
Theresa May's first big decision as PM was to duck out of a signing ceremony and review the Hinkley C nuclear project. But she will soon have to reach her decision. In this open letter Scientists for Global Responsibility set out six compelling reasons for her to let the whole monstrous white elephant go.
The government's surprise delay in signing the contract with EDF to build the Hinkley C nuclear power station has opened up a the space for a forward-looking UK energy policy, writes Jonathon Porritt - one that moves us into the world of low cost renewables, and smart new technologies vital to the global clean energy transition. But is Business & Energy Greg Clark for real? Don't rule it out!
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.
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.
Badgers are having a rough time in England, writes Lesley Docksey. But it's no better in most other European countries, where they enjoy no specific protection and digging, baiting and shooting are widespread. Hence the new Eurobadger coalition formed to campaign for them Europe-wide. The one shining example is Holland - TB-free since 1999 without killing a single badger!
Twin nuclear reactors at Taishan in China have been sealed into their concrete domes despite fears that the reactor vessels have serious metallurgical defects. No safety test data has been released by the two companies in charge, EDF and CGN, to show that the reactors will not crack in operation, releasing radioactivity.
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?
France's energy minister Ségolène Royal has backed union demands for the EDF's Hinkley C project in Somerset to be re-examined, write Angelique Chrisafis & Chris Johnston - adding that the project must not go ahead if it would 'dry out' funds needed for EDF's renewable energy program.
The giant waves that hit Cornwall's coast this weekend form part of a long term trend, writes Tim Radford. Extreme weather linked to global warming is leading to more violent and more frequent storms devastating beaches, ports, infrastructure and coastal communities on Europe's exposed Atlantic coastlines.
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.
MPs today grilled EDF Energy supremo Vincent de Rivaz over the troubled Hinkley C nuclear plant in Somerset. He insisted that the project was definitely going ahead - but refused to say when the 'final investment decision' was due. Confused? Bewildered? Frustrated? So were the MPs.
What was NATO's violent intervention in Libya really all about? Now we know, writes Ellen Brown, thanks to Hillary Clinton's recently published emails. It was to prevent the creation of an independent hard currency in Africa that would free the continent from economic bondage under the dollar, the IMF and the French African franc, shaking off the last heavy chains of colonial exploitation.