European Commission approves French-Chinese deal to build $25.5bn nuclear project in UK

[bananas]

Source: Energy Business Review

The European Commission has approved the proposed deal between EDF and China General Nuclear (CGN) in support of the planned $25.5bn Hinkley Point C nuclear project in Somerset.

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The European Commission said in a statement: "The Commission's investigation found that competition in the wholesale supply of electricity in the UK will not be hindered by the transaction given the moderate market share of EDF, the very limited market shares of CGN in this market and the presence of other competitors."

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Read more: http://nuclear.energy-business-review.com/news/european-commission-approves-french-chinese-deal-to-build-255bn-nuclear-project-in-uk-110316-4836377

[bananas]

1. EU Clears Nuclear Partnership Between EDF, China’s CGN

http://www.wsj.com/articles/eu-commission-clears-nuclear-partnership-between-edf-and-chinas-cgn-1457710123

EU Clears Nuclear Partnership Between EDF, China’s CGN

European Commission didn’t find any antitrust issue in the partnership

By Inti Landauro
March 11, 2016 10:28 a.m. ET

PARIS—The European Commission approved the partnership between French state-controlled power utility Electricité de France SA and state-owned China General Nuclear Power Group to build and operate nuclear reactors in the U.K.

The two companies are expected to make a final investment decision on a project that would represent an investment estimated at £18 billion ($25.7 billion). The commission didn’t find any antitrust issue in the partnership given the small market shares held by both companies in the U.K. and the presence of other competitors.

“The commission found that the parties would not have the ability to shut competitors out of these markets,” it said Friday in a statement.

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EDF’s Chief Financial Officer Thomas Piquemal quit earlier this week on a disagreement with the management team over the project’s financing.

[bananas]

2. 5 years after Fukushima disaster, the Commission clears EDF – CGN nuclear partnership, considers lac

http://neurope.eu/article/5-years-after-fukushima-disaster-the-commission-clears-edf-cgn-nuclear-partnership-over-lack-of-decommissioning-funds/

5 years after Fukushima disaster, the Commission clears EDF – CGN nuclear partnership, considers lack of decommissioning funds

Published 14:38 March 11, 2016
Updated 17:37 March 11, 2016

The European Commission approved a Strategic Agreement between French EDF and Chinese CGN in light of the lack of nuclear decommission funding

By Irene Kostaki
Journalist, New Europe

A discussion over decommissioning funds was raised during the Midday briefing, as the European Commission announced the approval of merger between Électricité de France (‘EDF’) of France and China General Nuclear Power Group (‘CGN’) of China in relation to the development, construction and operation of three nuclear power plants in the UK at Hinkley Point, Sizewell and Bradwell. The approval took place under the EU Merger Regulation the partnership, with the Commission investigating the vertical link between CGN’s activities in the market for design and manufacture of “nuclear islands” and the joint ventures’ of future activities in the generation and wholesale supply of electricity.

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Asked about the lack of decommissioning funds, as a connection to the merger’s approval, Ricardo Cardoso, Spokesperson for Competition gave the floor to Anna-Kaisa Itkonen, Climate Action and Energy Spokesperson, that announced the Nuclear illustrative programme report publication in the forthcoming weeks.

As 5 years from Fukushima nuclear power plant disaster anniversary is today, Itkonen linked the “NaTech disaster” memory with the actions European Commission plans to take in 2016. As Itkonen mentioned, Nuclear illustrative programme, is a requirement of Article 40 of the European Treaty and “provides a photograph of the situation of nuclear energy use and decommissioning in Europe. The 2016 edition will cover the post-Fukushima safety upgrade investments and those related with long-term operation with existing nuclear power plants, as well as those related to decommissioning”, added Itkonen.

Itkonen refused to answer to leaks over more than €50 billion lack of funding on France’s decommission funding. On the issue of state funds used as decommissioning funds from France, Cardoso said to NE that there is no ongoing investigation on the issue and therefore, the European Commission cannot comment.

[ladjf]

3. I thought that the Brits had more sense than this. nt

[ananda]

4. Oh dear.

Another boondoggle that will end in disaster.