DOCSLIB.ORG

Centrica Plc Annual Report and Accounts 2010

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Centrica Plc Annual Report and Accounts 2010 Centrica plc Registered office: Millstream, Maidenhead Road, Windsor, Berkshire SL4 5GD Company registered in England Report Annual and Wales No. 3033654 www.centrica.com and Accounts and 2010 Annual Report and Accounts 2010 Transporting personnel to the North Sea platforms UK: British Gas, Centrica Energy and Centrica Storage North America: Direct Energy PERFORMANCE ‡ ‡ ‡ Revenue Operating Profit* Employees 10% 16% 26% 7% 1% HIGHLIGHTS 4% 57% 51% 79% 1% Centrica’s main operations are in the UK and North America. 32% We have two types of business – downstream and upstream. 16% Downstream UK Upstream UK Storage UK North America Operating ◊ ‡ Adjusted earnings Group revenue Dividend per share Revenue‡ profit*‡ £m £m pence £m £m Downstream UK 1,297 14.30 22,423 21,963 1,111 12.80 1,122 20,872 12.20 Residential energy supply We are the biggest energy supplier in Britain’s domestic market. 8,355 742 11.57 911 9.92 Residential services We are Britain’s largest operator in the installation and maintenance of 16,065 15,893 707 domestic central heating and gas appliances. 1,464 241 Business energy supply We are Britain’s leading supplier of energy and related services and services to businesses. 2,906 233 06 07 08 09 10 06 07 08 09 10 06 07 08 09 10 Upstream UK With assets primarily in the UK and Norwegian continental shelf, our Financial highlights 2010 2009 Upstream gas and oil activities include gas and oil production, development and exploration. 864 581 ‡ Revenue £22.42bn £21.96bn We own and operate eight gas fired power stations, have a leading position Adjusted operating profit*‡ £2,390m £1,857m Power generation in offshore wind and a 20% stake in British Energy’s nuclear fleet. 1,105 226 Total taxation charge ^ £761m £548m We have a growing liquefied natural gas (LNG) business and also manage Industrial and commercial a number of legacy gas supply contracts. 1,594 (36) Adjusted effective tax rate^ 37% 33% ◊ Adjusted earnings £1,297m £1,111m Proprietary energy trading We buy and sell gas and power from a variety of sources. 2 – Adjusted basic earnings per share◊ 25.2p 21.7p Full-year dividend per share 14.3p 12.8p Storage UK Statutory results We are the owner and operator of Rough, the UK’s largest gas Storage storage facility. 232 169 Operating profit‡ £3,074m £1,175m Earnings £1,942m £856m North America Basic earnings per share 37.6p 16.5p We supply gas and power to residential and small business customers in Operating profit‡ includes net exceptional charges of £283m (2009: £568m) Residential energy supply chosen deregulated states and provinces in North America. 2,502 177 This report is printed on Greencoat 80 Silk which is made from 80% A definition of the profit measures used throughout these results is provided in the Chief Executive’s Review on We supply gas and power to commercial and industrial customers in recycled post-consumer fibre and 20% virgin fibre that is Elemental page 7. A reconciliation between operating profit and adjusted operating profit is provided in note 6(b) and a Business energy supply chosen deregulated markets across North America. 2,682 88 reconciliation between the earnings measures is provided in note 14. Chlorine Free. This paper has been independently certified according to the rules of the Forest Stewardship Council (FSC). * Including share of joint ventures and associates stated before interest and taxation, and before other costs and Residential and business We are the largest home services company in North America covering depreciation of fair value uplifts to property, plant and equipment from Strategic Investments and exceptional services 46 US states and all Canadian provinces. 485 15 Designed and produced by items and certain re-measurements. Strategic Investments are the acquisition of Venture and the investment in British Energy Upstream and We own and operate gas fired power stations in Texas and gas and oil ◊ As above, except after other costs and joint ventures and associates stated net of interest and taxation Photography by Mike Abrahams, David Hares, Charlie Fawell, wholesale energy assets in Alberta. We also have a wholesale energy trading business. 232 (46) ^ Includes taxation on profit from continuing operations and tax from joint ventures and associates as reconciled David Partner and Andy Wilson. in the Group Financial Review on page 23 ‡ From continuing operations Printed by St Ives Westerham Press Ltd, ISO14001, FSC certified and CarbonNeutral®. UK: British Gas, Centrica Energy and Centrica Storage North America: Direct Energy PERFORMANCE ‡ ‡ ‡ Revenue Operating Profit* Employees 10% 16% 26% 7% 1% HIGHLIGHTS 4% 57% 51% 79% 1% Centrica’s main operations are in the UK and North America. 32% We have two types of business – downstream and upstream. 16% Downstream UK Upstream UK Storage UK North America Operating ◊ ‡ Adjusted earnings Group revenue Dividend per share Revenue‡ profit*‡ £m £m pence £m £m Downstream UK 1,297 14.30 22,423 21,963 1,111 12.80 1,122 20,872 12.20 Residential energy supply We are the biggest energy supplier in Britain’s domestic market. 8,355 742 11.57 911 9.92 Residential services We are Britain’s largest operator in the installation and maintenance of 16,065 15,893 707 domestic central heating and gas appliances. 1,464 241 Business energy supply We are Britain’s leading supplier of energy and related services and services to businesses. 2,906 233 06 07 08 09 10 06 07 08 09 10 06 07 08 09 10 Upstream UK With assets primarily in the UK and Norwegian continental shelf, our Financial highlights 2010 2009 Upstream gas and oil activities include gas and oil production, development and exploration. 864 581 ‡ Revenue £22.42bn £21.96bn We own and operate eight gas fired power stations, have a leading position Adjusted operating profit*‡ £2,390m £1,857m Power generation in offshore wind and a 20% stake in British Energy’s nuclear fleet. 1,105 226 Total taxation charge ^ £761m £548m We have a growing liquefied natural gas (LNG) business and also manage Industrial and commercial a number of legacy gas supply contracts. 1,594 (36) Adjusted effective tax rate^ 37% 33% ◊ Adjusted earnings £1,297m £1,111m Proprietary energy trading We buy and sell gas and power from a variety of sources. 2 – Adjusted basic earnings per share◊ 25.2p 21.7p Full-year dividend per share 14.3p 12.8p Storage UK Statutory results We are the owner and operator of Rough, the UK’s largest gas Storage storage facility. 232 169 Operating profit‡ £3,074m £1,175m Earnings £1,942m £856m North America Basic earnings per share 37.6p 16.5p We supply gas and power to residential and small business customers in Operating profit‡ includes net exceptional charges of £283m (2009: £568m) Residential energy supply chosen deregulated states and provinces in North America. 2,502 177 This report is printed on Greencoat 80 Silk which is made from 80% A definition of the profit measures used throughout these results is provided in the Chief Executive’s Review on We supply gas and power to commercial and industrial customers in recycled post-consumer fibre and 20% virgin fibre that is Elemental page 7. A reconciliation between operating profit and adjusted operating profit is provided in note 6(b) and a Business energy supply chosen deregulated markets across North America. 2,682 88 reconciliation between the earnings measures is provided in note 14. Chlorine Free. This paper has been independently certified according to the rules of the Forest Stewardship Council (FSC). * Including share of joint ventures and associates stated before interest and taxation, and before other costs and Residential and business We are the largest home services company in North America covering depreciation of fair value uplifts to property, plant and equipment from Strategic Investments and exceptional services 46 US states and all Canadian provinces. 485 15 Designed and produced by items and certain re-measurements. Strategic Investments are the acquisition of Venture and the investment in British Energy Upstream and We own and operate gas fired power stations in Texas and gas and oil ◊ As above, except after other costs and joint ventures and associates stated net of interest and taxation Photography by Mike Abrahams, David Hares, Charlie Fawell, wholesale energy assets in Alberta. We also have a wholesale energy trading business. 232 (46) ^ Includes taxation on profit from continuing operations and tax from joint ventures and associates as reconciled David Partner and Andy Wilson. in the Group Financial Review on page 23 ‡ From continuing operations Printed by St Ives Westerham Press Ltd, ISO14001, FSC certified and CarbonNeutral®. Centrica plc Registered office: Millstream, Maidenhead Road, Windsor, Berkshire SL4 5GD Company registered in England Report Annual and Wales No. 3033654 www.centrica.com and Accounts and 2010 Annual Report and Accounts 2010 Transporting personnel to the North Sea platforms Directors’ Report – Business Review 4 Directors’ Report – Governance 37 Financial Statements 65 Shareholder Information 151 Our vision is to be the leading integrated energy company in our chosen markets. Energy for the demands of today, and for the future. Contents Our Performance Centrica at a glance 2 Chairman’s Statement 4 Directors’ Report – Overview of 2010 performance and 4 Chief Executive’s Review Business Review strategy for delivering long-term 8 Key Performance Indicators shareholder value. 10 Operating Review Review of each of our businesses in the context of our strategic priorities. 22 Group Financial Review 24 Corporate Responsibility Review 30 Principal Risks and Uncertainties 37 Directors’ Report – Introducing the Board of Directors 38 Board of Directors and Executive Team Governance and executive management team 40 Corporate Governance Report and explaining our approach to governance.
Load more

Recommended publications
  • BHP Economic Contribution Report 2017 1 Chief Financial Officer’S Introduction
    Economic Contribution Report 2017 We have a long-standing commitment to transparency. We are proud of the value we generate and how this contributes to building trust with the communities in which we operate. In this Report Chief Financial Officer’s Introduction 2 Tax and our 2017 Financial Statements 20 FY2017 Total economic contribution 3 Basis of Report preparation 21 Our contribution throughout the value chain 6 Glossary 22 Approach to transparency and tax 9 Independent auditor’s report to the Directors Our payments to governments 14 of BHP Billiton Plc and BHP Billiton Limited 23 Corporate Directory 24 BHP Billiton Limited. ABN 49 004 028 077. Registered in Australia. Registered office: 171 Collins Street, Melbourne, Victoria 3000, Australia. BHP Billiton Plc. Registration number 3196209. Registered in England and Wales. Registered office: Nova South, 160 Victoria Street London SW1E 5LB United Kingdom. Each of BHP Billiton Limited and BHP Billiton Plc is a member of the Group, which has its headquarters in Australia. BHP is a Dual Listed Company structure comprising BHP Billiton Limited and BHP Billiton Plc. The two entities continue to exist as separate companies but operate as a combined Group known as BHP. The headquarters of BHP Billiton Limited and the global headquarters of the combined Group are located in Melbourne, Australia. The headquarters of BHP Billiton Plc are located in London, United Kingdom. Both companies have identical Boards of Directors and are run by a unified management team. Throughout this publication, the Boards are referred to collectively as the Board. Shareholders in each company have equivalent economic and voting rights in the Group as a whole.
    [Show full text]
  • The Privatisation of Qinetiq
    House of Commons Committee of Public Accounts The privatisation of QinetiQ Twenty–fourth Report of Session 2007–08 Report, together with formal minutes, oral and written evidence Ordered by The House of Commons to be printed 12 May 2008 HC 151 Published on 10 June 2008 by authority of the House of Commons London: The Stationery Office Limited £0.00 The Committee of Public Accounts The Committee of Public Accounts is appointed by the House of Commons to examine “the accounts showing the appropriation of the sums granted by Parliament to meet the public expenditure, and of such other accounts laid before Parliament as the committee may think fit” (Standing Order No 148). Current membership Mr Edward Leigh MP (Conservative, Gainsborough) (Chairman) Mr Richard Bacon MP (Conservative, South Norfolk) Angela Browning MP (Conservative, Tiverton and Honiton) Mr Paul Burstow MP (Liberal Democrat, Sutton and Cheam) Rt Hon David Curry MP (Conservative, Skipton and Ripon) Mr Ian Davidson MP (Labour, Glasgow South West) Mr Philip Dunne MP (Conservative, Ludlow) Angela Eagle MP (Labour, Wallasey) Nigel Griffiths MP (Labour, Edinburgh South) Rt Hon Keith Hill MP (Labour, Streatham) Mr Austin Mitchell MP (Labour, Great Grimsby) Dr John Pugh MP (Liberal Democrat, Southport) Geraldine Smith MP (Labour, Morecombe and Lunesdale) Rt Hon Don Touhig MP (Labour, Islwyn) Rt Hon Alan Williams MP (Labour, Swansea West) Phil Wilson MP (Labour, Sedgefield) The following were also Members of the Committee during the period of the enquiry: Annette Brooke MP (Liberal Democrat, Mid Dorset and Poole North) and Mr John Healey MP (Labour, Wentworth). Powers Powers of the Committee of Public Accounts are set out in House of Commons Standing Orders, principally in SO No 148.
    [Show full text]
  • Empirical Inference of Related Trading Between Two Securities: Detecting Pairs Trading, Merger Arbitrage, and Strategy Rules*
    Empirical inference of related trading between two securities: Detecting pairs trading, merger arbitrage, and strategy rules* Keith Godfrey The University of Western Australia Working paper: 5 September 2013 The traditional approach to studying pairs trading is to simulate profitability using ex-post historical prices. I study the actual trades reported anonymously in security pairs and build statistical inferences of related trading. The approach is based on the time differences between trades. It can distinguish intrinsically related securities from pseudo-random sets, find stocks involved in merger arbitrage in massive sets of paired index constituents, and infer dominant trading rules of mean reversion algorithms. Empirical inference of related trading can enable further studies into pairs trading, strategy rules, merger arbitrage, and insider trading. Keywords: Inferred trading, empirical inference, pairs trading, merger arbitrage. JEL Classification Codes: G00, G10, C10, C40, C60 The availability of intraday trading or “tick” data with time resolution of a millisecond or finer is opening many avenues of research into financial markets. Analysis of two or more streams of tick data concurrently is becoming increasingly important in the study of multiple-security trading including index tracking, pairs trading, merger arbitrage, and market-neutral strategies. One of the greatest challenges in empirical trading research is the anonymity of reported trades. Securities exchanges report the dates, times, prices, and volumes traded, without identifying the traders. In studies of a single security, this introduces uncertainty of whether each market order that caused a trade was the buy or sell order, and there are documented approaches of inference such as Lee and Ready (1991).
    [Show full text]
  • Annual Report and Accounts 2006 Annual Report and Accounts 2006
    Centrica plc Annual Report and Accounts 2006 Annual Report and Accounts 2006 report Securing our customers’ energy needs Our vision is to become a leading integrated energy company in selected markets in order to maximise value to shareholders. In 2006 we focused on securing energy to meet our customers’ future needs. Our strategy Our strategy is to create a distinctive business model that delivers sustained profitability through the commodity cycle. We will achieve this by focusing on the following clear priorities: Transform British Gas Sharpen up the organisation and reduce costs Reduce risk by adding new sources of gas and power Build on our multiple growth platforms Our main activities Our upstream business Our downstream business We source energy internationally We supply energy to homes We find and produce gas predominantly in the UK We are Britain’s largest gas and electricity retailer, and have acquired licence blocks in Norway and supplying 49% of the residential gas market and 22% north and west Africa. We trade energy in the UK, of residential electricity. We are a growing North America and Europe and secure contracts force in North America, serving customers in five to bring gas to the UK. Canadian provinces and 15 US states. We generate energy We supply energy to businesses We generate electricity through our gas-fired power In Britain, we are a major supplier of gas and stations in the UK and US and through a growing electricity to the commercial sector. We also have portfolio of wind assets and purchasing agreements. customers in Belgium, the Netherlands and Spain.
    [Show full text]
  • Fund Fact Sheet
    Franklin Templeton Funds GB00B3ZGH246 FTF Franklin UK Mid Cap Fund - A 31 July 2021 (inc) Fund Fact Sheet For Professional Client Use Only. Not for distribution to Retail Clients. Fund Overview Performance Base Currency for Fund GBP Performance over 5 Years in Share Class Currency (%) Total Net Assets (GBP) 1.16 billion FTF Franklin UK Mid Cap Fund A (inc) FTSE 250 ex-Investment Trusts Index Fund Inception Date 17.10.2011 180 Number of Issuers 36 Benchmark FTSE 250 ex-Investment 160 Trusts Index IA Sector UK All Companies 140 ISA Status Yes 120 Summary of Investment Objective The Fund aims to grow in value by more than the FTSE 250 100 (ex-Investment Trusts) Index, from a combination of income and investment growth over a three to five-year period after all fees and costs are deducted. 80 07/16 01/17 07/17 01/18 07/18 01/19 07/19 01/20 07/20 01/21 07/21 Fund Management Discrete Annual Performance in Share Class Currency (%) Richard Bullas: United Kingdom 07/20 07/19 07/18 07/17 07/16 Mark Hall: United Kingdom 07/21 07/20 07/19 07/18 07/17 Dan Green, CFA: United Kingdom A (inc) 36.52 -12.79 -1.25 9.89 23.81 Marcus Tregoning: United Kingdom Benchmark in GBP 42.85 -15.10 -4.98 8.39 17.21 Ratings - A (inc) Performance in Share Class Currency (%) Cumulative Annualised Overall Morningstar Rating™: Since Since Asset Allocation 1 Mth 3 Mths 6 Mths YTD 1 Yr 3 Yrs 5 Yrs Incept 3 Yrs 5 Yrs Incept A (inc) 4.45 5.93 20.14 16.83 36.52 17.58 59.90 821.63 5.55 9.84 10.60 Benchmark in GBP 3.24 3.01 16.86 15.60 42.85 15.25 46.41 622.69 4.84 7.92 9.38 Prior to 7 August 2021, the Fund was named Franklin UK Mid Cap Fund.
    [Show full text]
  • Parker Review
    Ethnic Diversity Enriching Business Leadership An update report from The Parker Review Sir John Parker The Parker Review Committee 5 February 2020 Principal Sponsor Members of the Steering Committee Chair: Sir John Parker GBE, FREng Co-Chair: David Tyler Contents Members: Dr Doyin Atewologun Sanjay Bhandari Helen Mahy CBE Foreword by Sir John Parker 2 Sir Kenneth Olisa OBE Foreword by the Secretary of State 6 Trevor Phillips OBE Message from EY 8 Tom Shropshire Vision and Mission Statement 10 Yvonne Thompson CBE Professor Susan Vinnicombe CBE Current Profile of FTSE 350 Boards 14 Matthew Percival FRC/Cranfield Research on Ethnic Diversity Reporting 36 Arun Batra OBE Parker Review Recommendations 58 Bilal Raja Kirstie Wright Company Success Stories 62 Closing Word from Sir Jon Thompson 65 Observers Biographies 66 Sanu de Lima, Itiola Durojaiye, Katie Leinweber Appendix — The Directors’ Resource Toolkit 72 Department for Business, Energy & Industrial Strategy Thanks to our contributors during the year and to this report Oliver Cover Alex Diggins Neil Golborne Orla Pettigrew Sonam Patel Zaheer Ahmad MBE Rachel Sadka Simon Feeke Key advisors and contributors to this report: Simon Manterfield Dr Manjari Prashar Dr Fatima Tresh Latika Shah ® At the heart of our success lies the performance 2. Recognising the changes and growing talent of our many great companies, many of them listed pool of ethnically diverse candidates in our in the FTSE 100 and FTSE 250. There is no doubt home and overseas markets which will influence that one reason we have been able to punch recruitment patterns for years to come above our weight as a medium-sized country is the talent and inventiveness of our business leaders Whilst we have made great strides in bringing and our skilled people.
    [Show full text]
  • Draft Energy Bill: Pre–Legislative Scrutiny
    House of Commons Energy and Climate Change Committee Draft Energy Bill: Pre–legislative Scrutiny First Report of Session 2012-13 Volume III Additional written evidence Ordered by the House of Commons to be published on 24 May, 12, 19 and 26 June, 3 July, and 10 July 2012 Published on Monday 23 July 2012 by authority of the House of Commons London: The Stationery Office Limited The Energy and Climate Change Committee The Energy and Climate Change Committee is appointed by the House of Commons to examine the expenditure, administration, and policy of the Department of Energy and Climate Change and associated public bodies. Current membership Mr Tim Yeo MP (Conservative, South Suffolk) (Chair) Dan Byles MP (Conservative, North Warwickshire) Barry Gardiner MP (Labour, Brent North) Ian Lavery MP (Labour, Wansbeck) Dr Phillip Lee MP (Conservative, Bracknell) Albert Owen MP (Labour, Ynys Môn) Christopher Pincher MP (Conservative, Tamworth) John Robertson MP (Labour, Glasgow North West) Laura Sandys MP (Conservative, South Thanet) Sir Robert Smith MP (Liberal Democrat, West Aberdeenshire and Kincardine) Dr Alan Whitehead MP (Labour, Southampton Test) The following members were also members of the committee during the parliament: Gemma Doyle MP (Labour/Co-operative, West Dunbartonshire) Tom Greatrex MP (Labour, Rutherglen and Hamilton West) Powers The Committee is one of the departmental select committees, the powers of which are set out in House of Commons Standing Orders, principally in SO No 152. These are available on the Internet via www.parliament.uk. Publication The Reports and evidence of the Committee are published by The Stationery Office by Order of the House.
    [Show full text]
  • Africa's Leading Independent Oil Company
    TULLOW OIL PLC PLC OIL TULLOW 2017 ANNUAL REPORT & ACCOUNTS & REPORT ANNUAL 2017 TULLOW OIL PLC 2017 ANNUAL REPORT & ACCOUNTS AFRICA’S LEADING INDEPENDENT OIL COMPANY www.tullowoil.com D AFRICA’S LEADING INDEPENDENT OIL COMPANY Tullow Oil is a leading independent oil and gas exploration and production company. Our focus is on finding and monetising oil in Africa and South America. Our key activities include targeted Exploration and Appraisal, selective development projects and growing our high-margin production. We have a prudent financial strategy with diverse sources of funding. Our portfolio of 90 licences spans 16 countries and is organised into three Business Delivery Teams. We are headquartered in London and our shares are listed on the London, Irish and Ghana Stock Exchanges. 1 2 3 STRATEGIC REPORT CORPORATE GOVERNANCE FINANCIAL STATEMENTS Our Group highlights 1 Directors’ report 56 Statement of Directors’ responsibilities 108 Our operations 4 Audit Committee report 67 Independent auditor’s report for the Chairman’s foreword 6 Nominations Committee report 73 Group Financial Statements 109 Chief Executive Officer’s foreword 8 EHS Committee report 76 Group Financial Statements 117 Chief Financial Officer’s foreword 10 Remuneration report 78 Company Financial Statements 153 Executive Team overview 12 Other statutory information 101 Five-year financial summary 162 Market outlook 14 Supplementary information Our strategy 16 Shareholder information 163 Our business model 18 Licence interests 164 Key performance indicators 20 Commercial reserves and resources 168 Creating value 24 Transparency disclosure 169 Operations review 26 Sustainability data 176 Finance review 31 Tullow Oil plc subsidiaries 179 Responsible Operations 36 Glossary 181 Governance & Risk management 38 Board of Directors 40 Principal Risks 42 Organisation & Culture 50 Shared Prosperity 52 You can find this report and additional information about Tullow Oil on our website: www.tullowoil.com Cover: TEN FPSO, Prof.
    [Show full text]
  • Digest of United Kingdom Energy Statistics 2017
    DIGEST OF UNITED KINGDOM ENERGY STATISTICS 2017 July 2017 This document is available in large print, audio and braille on request. Please email [email protected] with the version you require. Digest of United Kingdom Energy Statistics Enquiries about statistics in this publication should be made to the contact named at the end of the relevant chapter. Brief extracts from this publication may be reproduced provided that the source is fully acknowledged. General enquiries about the publication, and proposals for reproduction of larger extracts, should be addressed to BEIS, at the address given in paragraph XXVIII of the Introduction. The Department for Business, Energy and Industrial Strategy (BEIS) reserves the right to revise or discontinue the text or any table contained in this Digest without prior notice This is a National Statistics publication The United Kingdom Statistics Authority has designated these statistics as National Statistics, in accordance with the Statistics and Registration Service Act 2007 and signifying compliance with the UK Statistics Authority: Code of Practice for Official Statistics. Designation can be broadly interpreted to mean that the statistics: ñ meet identified user needs ONCEñ are well explained and STATISTICSreadily accessible HAVE ñ are produced according to sound methods, and BEENñ are managed impartially DESIGNATEDand objectively in the public interest AS Once statistics have been designated as National Statistics it is a statutory NATIONALrequirement that the Code of Practice S TATISTICSshall continue to be observed IT IS © A Crown copyright 2017 STATUTORY You may re-use this information (not including logos) free of charge in any format or medium, under the terms of the Open Government Licence.
    [Show full text]
  • Roussely Report: Saving French Nuclear Industry with Outrageous Measures
    SEPTEMBER 3, 2010 | No. 715 ROUSSELY REPORT: SAVING FRENCH NUCLEAR INDUSTRY WITH ROUSSELY REPORT: SAVING FRENCH NUCLEAR INDUSTRY OUTRAGEOUS MEASURES WITH OUTRAGEOUS After France's failure to win the contract for four nuclear power MEASURES 1 plants in the United Arab Emirates, President Sarkozy ordered a OLKILUOTO BLOCKADE 2 report on the French nuclear industry. The outline of the Roussely report (named after Francois Roussely, a former EDF president), HAUNTED BY HISTORY: NUCLEAR NEW BUILD IN dated June 16, was made public –in French- by the Elysée Palace BRITAIN 4 on 27 July 2010 NUCLEAR ENERGY (715.6078) Sortir du nucleaire - In the the claims made by Areva, the merchant DECREASES WORLD report, author Francois Roussely of nuclear plants. Roussely points out the STABILITY AND INCREASES recognizes the scale of the problems inadequate performance of the French INEQUALITY 7 facing the French nuclear industry: lack nuclear reactors: “whereas global of export competitiveness, falling average nuclear plant availability has MORE PLUTONIUM DESTINED domestic load factor, delays and cost significantly increased during the last 15 FOR WIPP? 7 overruns in EPR construction projects. years, nuclear plant availability in France PROLONGING NUCLEAR has seen a marked decrease in the last POWER WILL HINDER French nuclear industry: disastrous few years.” RENEWABLES 8 economic and industrial results The failure of the EPR is such, according IN BRIEF 9 The Roussely report recognizes the scale to Roussely, that “it is the credibility, and of the setbacks experienced by Areva therefore the very existence” of the and EDF at the EPR reactor construction French nuclear industry which is at stake.
    [Show full text]
  • Growing the Contribution of Defence to UK Prosperity / Foreword by Philip Dunne MP Growing the Contribution of Defence to UK Prosperity
    Growing the Contribution of Defence to UK Prosperity / Foreword by Philip Dunne MP Growing the Contribution of Defence to UK Prosperity A report for the Secretary of State for Defence Philip Dunne MP July 2018 A Front cover: Flexible Manufacturing Systems at the BAE Systems F-35 machining facility at Samlesbury, Lancashire. The systems help machine complex titanium and aluminium components with unparalleled precision. Copyright BAE Systems plc. All images are Crown Copyright unless otherwise stated. Growing the Contribution of Defence to UK Prosperity / Contents Contents Foreword by Philip Dunne MP 2 Executive Summary 4 Chapter 1 National life 6 Chapter 2 Economic growth 16 Chapter 3 People 26 Chapter 4 Ideas and innovation 36 Chapter 5 Place 48 Chapter 6 Cross-cutting findings and recommendations 52 Annex A Comprehensive list of recommendations 56 Annex B Regional Maps 60 Annex C Terms of reference 86 Annex D Engagements 88 1 Foreword by Philip Dunne MP 2 Growing the Contribution of Defence to UK Prosperity / Foreword by Philip Dunne MP I am pleased to have been In addition, we have a unique opportunity as a result of asked by the Secretary of State the historic decision by the British people to leave the for Defence to undertake this European Union from March 2019, to reconsider what Review of the contribution of impacts this may have for the role of Defence in the UK Defence to the prosperity of economy. the United Kingdom. I have been asked in the Terms of Reference for the As part of the Defence and Dunne Review, set out in Annex C, to undertake this work Security Review 2015, when within an initial tight two-month timeframe, to inform I was Minister of State for Defence Procurement, the the Modernising Defence Programme work this summer.
    [Show full text]
  • LDA Report Template
    The Planning Act 2008 The Infrastructure Planning (Applications: Prescribed Forms and Procedure) Regulations 2009 Section 37(3)(c) Planning Act 2008 The Proposed Rookery South (Resource Recovery Facility) Order Consultation Report 4 August 2010 Document Reference: 7.1 Covanta Rookery South Limited LDA Design 7.1: Consultation Report 2 Covanta Rookery South Limited LDA Design Contents 0.0 Foreword ....................................................................................................... 11 1.0 Summary ....................................................................................................... 15 1.1. Introduction ............................................................................................. 15 1.2. Consultation Outcomes .......................................................................... 16 1.3. Conclusion .............................................................................................. 22 2.0 Introduction ................................................................................................... 25 2.1. Background ............................................................................................ 25 2.2. The Applicant: Covanta .......................................................................... 25 2.3. The Purpose of this Report ..................................................................... 26 2.4. The Proposed Project ............................................................................. 26 2.5. Covanta‟s Application Strategy ..............................................................
    [Show full text]