The Nuclear Liabilities of British Energy Plc
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Cover image: Courtesey of EDF Energy — www.edfenergy.com/energy CONTENTS... 1 AT A GLANCE... 2 A BRIEF HISTORY OF NUCLEAR ENERGY... 4 BENEFITS OF NUCLEAR ENERGY... 5 WHAT THE PUBLIC THINK... 6 HOW NUCLEAR CREATES ENERGY... 7 HOW A REACTOR WORKS... 8 THE NUCLEAR FUEL CYCLE... 9 MANAGING WASTE... 10 RADIATION EXPLAINED... 12 NUCLEAR AROUND THE WORLD... 14 UK NUCLEAR SITES... 16 NUCLEAR NEW BUILD... 17 NEW BUILD IN NUMBERS... 18 LOOKING TO THE FUTURE... 19 DECOMMISSIONING... 20 CAREERS IN NUCLEAR... 21 FUTHER INFORMATION... AT A GLANCE... Nuclear is a major part of our energy mix. Today it accounts for 21% of electricity generated in the UK and has been providing secure low carbon electricity for over 60 years. Low carbon energy, including There are 15 nuclear power and renewables, nuclear power account for almost 51% of the reactors operating UK’s generation electricity mix across eight sites in the UK In 2016 nuclear energy avoided 22.7 million metric tonnes of CO2 emissions in the UK BEIS,Digest of UK Energy Statistics 2018 That’s equivalent to taking around a third of all cars in the UK off the road Civil nuclear contributes over £6 billion to the jobs in the UK civil nuclear sector UK economy as much as aerospace manufacturing 12,159 Women in civil nuclear 1,981 People on apprenticeships Three quarters of the public 914 believe nuclear should be part People on graduate schemes of the clean energy mix Jobs Map figures generated from participating NIA members 1 This simple timeline charts some of the key people, events and legislation A BRIEF HISTORY OF NUCLEAR ENERGY.. -
Our Vision: First in UK Power
Operator: kevin Date: 02.06.2008 Server: studio 3 Set-up: Dave First Read/Revisions Our vision: First in UK power British Energy Group plc Annual Report and Accounts plc Annual ReportBritish Energy Group and Accounts 2007/08 British Energy Group plc GSO Business Park East Kilbride G74 5PG United Kingdom Registered in Scotland Number 270184 Annual Report and Accounts 2007/08 MM60056005 BBEE CCover.inddover.indd 1 99/6/08/6/08 007:24:147:24:14 Operator: kevin Date: 02.06.2008 Server: studio 3 Set-up: Dave First Read/Revisions British Energy is the lowest carbon emitter of the major electricity generators in the United Kingdom and the only low carbon baseload generator. BUSINESS SUMMARY Our Power Stations 01 Highlights 1 02 Our Strategy Torness Two advanced gas-cooled reactors 03 Key Performance Indicators 2 Hartlepool 04 Chairman’s Statement Two advanced gas-cooled reactors 3 Eggborough DIRECTORS’ REPORT – BUSINESS REVIEW Four coal-fi red units 06 Chief Executive’s Business Review 4 Sizewell B 14 Financial Review One pressurised water reactor 5 28 Corporate Social Responsibility ' Dungeness B / Two advanced gas-cooled reactors 6 Hinkley Point B DIRECTORS’ REPORT – CORPORATE GOVERNANCE 32 Board of Directors Two advanced gas-cooled reactors 7 1 34 Corporate Governance Heysham ( Two advanced gas-cooled reactors 42 Remuneration Committee Report 8 Heysham 2 49 Other Statutory Information . Two advanced gas-cooled reactors - ) 9 Hunterston B FINANCIAL STATEMENTS Two advanced gas-cooled reactors 51 Independent Auditors’ Report to the Members of -
Name Surname
OFGEM FINANCIAL INFORMATION REPORTING YEAR ENDED 31 DECEMBER 2010 Under the Ofgem issued “Energy Supply Probe – Proposed Retail Market Remedies”, changes to generators and suppliers licences were made requiring licence holders to publish financial information to aid comparability of suppliers and generators. This “Segmental Reporting” satisfies Standard Licence Condition 19A of the Gas and Electricity Supply Licences and Standard Licence Condition 16B of the Electricity Generation Licence. EDF Energy (UK) Ltd and its subsidiaries (“EDF Energy”) operate through 3 operational business units supported by corporate services. These are “Energy Sourcing and Customer Supply”, ”Nuclear Generation”, “Nuclear New Build” and “Corporate Steering Functions and Company Shared Services & Integration”. The principal activities of these business units and support services are: Energy Sourcing and Customer Supply (ESCS): the provision and supply of electricity and gas to residential, commercial and industrial customers, the provision of services relating to energy, including purchasing of fuel for power generation and the generation of electricity; Nuclear Generation (NG): the generation of electricity through its fleet of nuclear power stations and Nuclear New Build (NNB): the development and construction of new nuclear power plants in the United Kingdom Corporate Steering Functions and Company Shared Services and Integration (CSF/CSSI): the provision of support services including HR, Finance, Property and IT, and the development of greater integration and synergies across the company where possible. The results of NNB are excluded from the scope of the Ofgem requirements hence NNB indirect and direct costs are not included in the analysis below. No consolidated statutory accounts have been prepared which include all UK operations of the EDF Energy group of companies. -
Nuclear Power and Deregulated Electricity Markets: Lessons from British Energy
Nuclear Power and Deregulated Electricity Markets: Lessons from British Energy EPRG Working Paper 0808 Simon Taylor Abstract The privatisation in 1996 and subsequent financial crisis in 2002 of the company British Energy plc shed some light on the difficulties of running a nuclear generator in a deregulated electricity market. This paper explains the causes of the company’s financial difficulties and argues that they do not amount to evidence that nuclear power cannot survive in liberalised markets. The causes of the financial crisis were complex and varied but nuclear power risks are not conceptually different from those successfully handled by markets in other sectors. In particular there is no reason in principle why new nuclear power stations should not be viable in a deregulated power market, assuming they are fundamentally cost competitive. Keywords Keywords: Electricity markets, nuclear power, risk management, corporate strategy, financial strategy, G PAPER privatisation. N JEL Classification G32, L94, Q48 Contact [email protected] Publication February 2008 EPRG WORKI www.electricitypolicy.org.uk 1. Introduction The British government privatised the more modern UK nuclear power stations in the form of the company British Energy plc in 1996. The company was unusual in being a wholly nuclear merchant power generator in a deregulated power market. It was also unusual in having full financial responsibility for its back end nuclear liabilities. The company initially raised output and profits and saw its shares rise strongly. But by 2002 it had run out of cash and had to get emergency financing from the government to avoid going into administration. -
Nuclear Research and Development Capabilities
Nuclear Research and Development Capabilities Response from the Engineering the Future alliance which includes: • The Royal Academy of Engineering • The Institution of Engineering and Technology • The Institution of Mechanical Engineers • The Institution of Chemical Engineers • The Engineering Council • Engineering UK House of Lords Select Committee on Science and Technology April 2011 Engineering the Future is pleased to have the opportunity to input into the Committee’s inquiry into UK nuclear research and development capability. As the alliance of the UK professional engineering institutions, Engineering the Future can draw upon a wide range of expertise in the nuclear field. It is clear that maintaining a strong nuclear research and development capability within the UK is important not only in its own right, but also in terms of positioning the UK as a credible partner in the international civil nuclear business and in maintaining the skills pipeline required by the industry in the UK for today and the future. This response has been coordinated by the Royal Academy of Engineering on behalf of Engineering the Future. Engineering the Future is a broad alliance of engineering institutions and bodies which represent the UK’s 450,000 professional engineers. We provide independent expert advice and promote understanding of the contribution that engineering makes to the economy, society and to the development and delivery of national policy. Nuclear Research and Development Capabilities The implications of future scenarios • What are the research and capability requirements of nuclear energy policy options, roadmaps and scenarios up to 2050? • What consideration is the Government giving to the UK’s R&D requirements to meet the policy objectives for nuclear energy both in the near term and longer term (to 2050)? Does more need to be done? • What research capabilities and commitments are required now to meet these future nuclear energy policies? 1. -
Annual-Report-And-Accounts-2019.Pdf
Satisfying the changing needs of our customers Enabling the transition to a lower carbon future Annual Report and Accounts 2019 Group Snapshot Centrica plc is a leading international energy services and solutions provider focused on satisfying the changing needs of our customers and enabling the transition to a lower carbon future. The world of energy is changing rapidly and Centrica is now equipped to help customers transition to a lower carbon future, with capabilities and technologies to allow them to reduce their emissions. Therefore, we announced in July 2019 our intention to complete the shift towards the customer, by exiting oil and gas production. The Company’s two customer-facing divisions, Centrica Consumer and Centrica Business, are focused on their strengths of energy supply and its optimisation, and on services and solutions, with a continued strong focus on delivering high levels of customer service. Centrica is well placed to deliver for our customers, our shareholders and for society. We aim to be a good corporate citizen and an employer of choice. Technology is increasingly important in the delivery of energy and services to our customers. We are developing innovative products, offers and solutions, underpinned by investment in technology. We are targeting significant cost efficiency savings by 2022 to position Centrica as the lowest cost provider in its markets, consistent with our chosen brand positioning and propositions. Alongside our distinctive positions and capabilities, this will be a key enabler as we target -
Endless Trouble: Britain's Thermal Oxide Reprocessing Plant
Endless Trouble Britain’s Thermal Oxide Reprocessing Plant (THORP) Martin Forwood, Gordon MacKerron and William Walker Research Report No. 19 International Panel on Fissile Materials Endless Trouble: Britain’s Thermal Oxide Reprocessing Plant (THORP) © 2019 International Panel on Fissile Materials This work is licensed under the Creative Commons Attribution-Noncommercial License To view a copy of this license, visit ww.creativecommons.org/licenses/by-nc/3.0 On the cover: the world map shows in highlight the United Kingdom, site of THORP Dedication For Martin Forwood (1940–2019) Distinguished colleague and dear friend Table of Contents About the IPFM 1 Introduction 2 THORP: An Operational History 4 THORP: A Political History 11 THORP: A Chronology 1974 to 2018 21 Endnotes 26 About the authors 29 About the IPFM The International Panel on Fissile Materials (IPFM) was founded in January 2006 and is an independent group of arms control and nonproliferation experts from both nuclear- weapon and non-nuclear-weapon states. The mission of the IPFM is to analyze the technical basis for practical and achievable pol- icy initiatives to secure, consolidate, and reduce stockpiles of highly enriched uranium and plutonium. These fissile materials are the key ingredients in nuclear weapons, and their control is critical to achieving nuclear disarmament, to halting the proliferation of nuclear weapons, and to ensuring that terrorists do not acquire nuclear weapons. Both military and civilian stocks of fissile materials have to be addressed. The nuclear- weapon states still have enough fissile materials in their weapon stockpiles for tens of thousands of nuclear weapons. On the civilian side, enough plutonium has been sepa- rated to make a similarly large number of weapons. -
IAEA Nuclear Energy Series Costing Methods and Funding Schemes for Radioactive Waste Disposal Programmes No
IAEA Nuclear Energy Series IAEA Nuclear No. NW-T-1.25 No. IAEA Nuclear Energy Series Costing Methods and Funding Schemes for Radioactive Waste Disposal Programmes Costing Methods and Funding Schemes for Radioactive Waste No. NW-T-1.25 Basic Costing Methods and Principles Funding Schemes for Radioactive Waste Objectives Disposal Programmes Guides Technical Reports INTERNATIONAL ATOMIC ENERGY AGENCY VIENNA @ IAEA NUCLEAR ENERGY SERIES PUBLICATIONS STRUCTURE OF THE IAEA NUCLEAR ENERGY SERIES Under the terms of Articles III.A.3 and VIII.C of its Statute, the IAEA is authorized to “foster the exchange of scientific and technical information on the peaceful uses of atomic energy”. The publications in the IAEA Nuclear Energy Series present good practices and advances in technology, as well as practical examples and experience in the areas of nuclear reactors, the nuclear fuel cycle, radioactive waste management and decommissioning, and on general issues relevant to nuclear energy. The IAEA Nuclear Energy Series is structured into four levels: (1) The Nuclear Energy Basic Principles publication describes the rationale and vision for the peaceful uses of nuclear energy. (2) Nuclear Energy Series Objectives publications describe what needs to be considered and the specific goals to be achieved in the subject areas at different stages of implementation. (3) Nuclear Energy Series Guides and Methodologies provide high level guidance or methods on how to achieve the objectives related to the various topics and areas involving the peaceful uses of nuclear energy. (4) Nuclear Energy Series Technical Reports provide additional, more detailed information on activities relating to topics explored in the IAEA Nuclear Energy Series. -
Annex D Major Events in the Energy Industry
Annex D Major events in the Energy Industry 2018 Energy Prices In February 2018 the Domestic Gas and Electricity (Tariff Cap) Bill was introduced to Parliament, which will put in place a requirement on the independent regulator, Ofgem, to cap energy tariffs until 2020. It will mean an absolute cap can be set on poor value tariffs, protecting the 11 million households in England, Wales and Scotland who are currently on a standard variable or other default energy tariff and who are not protected by existing price caps. An extension to Ofgem’s safeguard tariff cap was introduced in February 2018 which will see a further one million more vulnerable consumers protected from unfair energy price rises. Nuclear In June 2018 the Government announced a deal with the nuclear sector to ensure that nuclear energy continues to power the UK for years to come through major innovation, cutting-edge technology and ensuring a diverse and highly-skilled workforce. Key elements include: • a £200 million Nuclear Sector Deal to secure the UK’s diverse energy mix and drive down the costs of nuclear energy meaning cheaper energy bills for customers; • a £32 million boost from government and industry to kick-start a new advanced manufacturing programme including R&D investment to develop potential world-leading nuclear technologies like advanced modular reactors; • a commitment to increasing gender diversity with a target of 40% women working in the civil nuclear sector by 2030. 2017 Energy Policy In October 2017 the Government published The Clean Growth Strategy: Leading the way to a low carbon future, which aims to cut emissions while keeping costs down for consumers, creating good jobs and growing the economy. -
SSE Annual Report 2007
energy made better Scottish and Southern Energy plc Annual Report 2007 Our purpose is to provide people with the energy they need – in a reliable and sustainable way. This Annual Report describes how we’ve worked to make energy better. And we’re continuing to work to make it better still. Scottish and Southern Energy Annual Report 2007 Contents 1 Chairman’s Statement 2 Directors’ Report 36 Dividends 68 Profile 3 Corporate Governance Report 38 Earnings Per Share 69 Providing Energy 4 Organisation and Structure 38 Intangible Assets 70 Key Performance Indicators 6 Board Effectiveness 39 Property, Plant and Equipment 72 Board Committees 39 Investment in Associates and Joint Ventures 73 Chief Executive’s Statement 10 Audit Committee 39 Subsidiary Undertakings 76 Financial Overview 10 Remuneration Committee 40 Acquisitions and Disposals 77 Energy Systems 11 Nomination Committee 40 Inventories 79 Generation and Supply 16 Risk Committee 40 Trade and Other Receivables 79 Contracting, Connections and Metering 25 Executive Committee 40 Cash and Cash Equivalents 80 Gas Storage 27 Health, Safety and Environmental Advisory Committee 40 Trade and Other Payables 80 Telecoms 28 Internal Control and Risk Management 40 Current Tax Liabilities 80 Exceptional Item 28 Going Concern 41 Construction Contracts 80 Investment and Capital Expenditure 28 Communication with Shareholders Loans and Other Borrowings 81 Financial Management 30 and Major Business Stakeholders 41 Deferred Taxation 83 Tax 31 Provisions 84 Balance Sheet 31 Directors’ Biographies and Responsibilities -
The UK Nuclear Decommissioning Authority
Public Services International Research Unit (PSIRU) www.psiru.org The UK Nuclear Decommissioning Authority By Steve Thomas December 2004 Public Services International Research Unit (PSIRU), Business School, University of Greenwich, Park Row, London SE10 9LS, U.K. Email: [email protected] Website: www.psiru.org Tel: +44-(0)208-331-9933 Fax: +44 (0)208-331-8665 Director: David Hall Researchers: Robin de la Motte, Jane Lethbridge, Emanuele Lobina, Steve Thomas PSIRU’s research is centred around the maintenance of an extensive database on the economic, political, financial, social and technical experience with privatisation and restructuring of public services worldwide, and on the multinational companies involved. This core database is financed by Public Services International ( www.world-psi.org), the worldwide confederation of public service trade unions. PSIRU’s research is published on its website, www.psiru.org . PSIRU University of Greenwich www.psiru.org 1. INTRODUCTION.................................................................................................................................................... 3 2. WHAT IS THE COMMISSION CASE ABOUT? ................................................................................................ 3 2.1. THE WESTINGHOUSE BUSINESS .......................................................................................................................... 4 3. THE NDA ................................................................................................................................................................ -
Signature Research on Legacy Management at the National Nuclear Laboratory, United Kingdom - 10362
Signature Research on Legacy Management at the National Nuclear Laboratory, United Kingdom - 10362 A. W. Banford National Nuclear Laboratory, Risley, Warrington, Cheshire, WA3 6AS, United Kingdom ABSTRACT The United Kingdom (UK) National Nuclear Laboratory (NNL) is establishing four Signature Research Areas, which will underpin the future requirements of the UK nuclear Industry. The management of radioactive waste, nuclear plant and sites at the end of operations is a significant challenge in the UK and internationally. Therefore the NNL Signature Research Area on Legacy Management aims to address this challenge. The key theme of the research area is to inform and underpin the development of strategies for legacy management through an understanding of the nature of the waste inventory, the potential endpoints and the identification of possible processing options. This strategic approach aims to identify the key challenges, identify required evolutionary changes to existing technologies and identify areas in which revolutionary change could make most impact. This paper provides a technical overview of the UK’s National Nuclear Laboratory Signature Research Area on Legacy Management; which will focus on the range of technical areas notably; • strategy development • waste, facility and land characterisation • waste behaviour • decontamination • retrieval and remote deployment • decommissioning techniques • contaminated land and site end points. INTRODUCTION A series of four Signature Research Areas have been identified as being central to the United Kingdom National Nuclear Laboratory mission, to provide independent, authoritative advice on nuclear issues. These areas encompass activities which are of strategic significance to the NNL and both the UK and international nuclear industry. The four areas are defined as follows, • Fuel and Reactors • Spent Fuel and Nuclear Materials [1] • Legacy Waste and Decommissioning • Waste Processing, Storage and Disposal Collectively these areas cover most of the nuclear fuel cycle.