Platts - Wednesday, January 31, 2007 http://www.platts.com ------------ WEC recommends more European nuclear power London (Platts)--30Jan2007 Europe needs more nuclear power in its future, according to a World Energy Council report released January 30. More than 80% of Europe's installed capacity will be more than 30 years old by 2020, said Alessandro Clerici, a senior consultant to the chairman of ABB. Clerici, who led the WEC working group that produced the report, said a large number of European power plants will be retired between 2010 and 2030, and nuclear's role in replacement of that capacity depended the most on public opinion, which is "the key issue." The WEC report points out the "solid economic reasons" to support new nuclear power, the cost of which could be around 40 Euros per megawatt hour, Clerici said. The report is available online (http://www.worldenergy.org/wec-geis/global/downloads/nuclear/WEC_Nuclear_Ful l_Report.pdf). ------------ Uranium spot price tops $75/pound, Ux Consulting says Washington (Platts)--30Jan2007 The spot price of uranium (U3O8) is now at least $75 a pound, Ux Consulting said late Monday. The consulting firm said that based on some activity it has seen recently in the spot market, the U3O8 price rose $3/lb and was now at $75/lb, although the company said there was still a belief among suppliers that the price remains under considerable upward pressure. Based on discussions with market analysts, Platts newsletter NuclearFuel on January 29 said it was likely that any spot market deals done over the next two weeks would be concluded within a range of $75 to $81/lb. --Michael Knapik, newsdesk@platts.com ------------ Swedish regulators file complaint against Forsmarks Kraftgrupp London (Platts)--30Jan2007 Swedish regulators said January 29 they have filed a complaint with prosecutors against Forsmarks Kraftgrupp, operator of the three Forsmark reactors. The complaint alleges violations of Swedish nuclear law inconnection with a July incident involving failure of the uninterruptible power supply at Forsmark-1. The Swedish Nuclear Power Inspectorate, or SKI,said that it believes that Forsmark operators should have begun cooling down the unit immediately instead of waiting until the next day. ------------ US congressman says NRC security rule was 'industry influenced' Washington (Platts)--29Jan2007 A US Nuclear Regulatory Commission rule designed to beef up security at nuclear plants in response to the September 11, 2001, terrorist attacks on New York and Washington drew fire Monday from a leading House critic, who said the plan "reflects an inadequate, industry-influenced approach that sacrifices security in favor of corporate profits." Representative Edward Markey, a Massachusetts Democrat and a senior member of the House Energy and Commerce Committee, issued a statement criticizing the new rule for failing to require nuclear plants to protect against attacks by airplanes deliberately flown into a reactor. Markey added language to the Energy Policy Act of 2005 that required the NRC to write new regulations designed to upgrade the so-called design basis threat security levels to reflect new threats in the wake of 9/11. "I am disappointed that the Commission has missed this opportunity to provide the public with a real solution to the nuclear reactor security problem. These new regulations were supposed to significantly enhance our ability to secure nuclear reactors in the post-September 11 era. It does not do so. Instead, it reflects an inadequate, industry-influenced approach that sacrifices security in favor of corporate profits." The NRC, which approved the final rule Monday, said the new rule modifies and enhances the DBT-based "extensive consideration" of factors specified in EPAct 2005. "This rule is an important piece, but only one piece, of a broader effort to enhance nuclear power plant security," NRC Chairman Dale Klein said in a statement. The commission said its final rule does not require owners to protect a plant against a deliberate hit by a large aircraft, something the agency was asked to do by the Committee to Bridge the Gap, an environmental and public interest organization. The agency said it has "already required its licensees to take steps to mitigate the effects of large fires and explosions from any type of initiating event." The agency said it believes "active protection against airborne threats is addressed by other federal organizations, including the military." ------------ Olkiluoto-3 construction site closed January 26 London (Platts)--29Jan2007 The Olkiluoto-3 construction site was closed January 26 after small cracks were discovered in the base of a crane, management at Teollisuuden Voima Oy said in a statement. TVO will operate the 1,600-MW EPR that is being built by Areva and Siemens. Management said it decided to close the site as a precautionary measure and was investigating the damage to the crane to determine if repairs are needed. ------------ Toyocho town volunteers to host a high-level waster repository London (Platts)--29Jan2007 The town of Toyocho has volunteered to host a high-level waste repository in Japan, according to Japanese media reports. Japan's Nuclear Waste Management Organization, or NUMO, has solicited local governments to volunteer as site candidates since it was set up in 2000. NUMO then set milestones for establishing an HLW repository in Japan by around 2030. Until now, no local communities had volunteered. According to Japanese media, a survey showed that 60% of local residents of Toyocho, in Kochi Prefecture, opposed the decision by the town government to volunteer to host the facility. ------------ Duane Arnold, wind projects boost FPL Energy's 2006 earnings Washington (Platts)--26Jan2007 The addition of Duane Arnold and new wind projects helped boost earnings for FPL Energy in 2006, parent FPL Group said January 26. FPL Energy, FPL's merchant subsidiary, reported 2006 net income of $610 million, up from $203 million in 2005. FPL Energy completed the acquisition of 70% of Duane Arnold in January 2006 and completed an uprate last year at Seabrook, adding about 20 MW to the PWR. FPL's 2006 net income was about $1.3 billion, up from $901 million in 2005, the company said. FPL subsidiary Florida Power & Light Co. reported net income of $802 million, up from $748 million in 2005. FP&L operates St. Lucie-1 and -2 and Turkey Point-3 and -4. ------------ Cooper nuclear plant output to remain at 60% due to pump problems Washington (Platts)--26Jan2007 Nebraska Public Power District's 778-MW Cooper nuclear power plant continued to operate at 60% of capacity Friday as crews investigated the cause of a circulation pump malfunction, an NPPD spokeswoman said. The reactor was at 100% power when the malfunction occurred Thursday, triggering a reduction in power operations. No information is available yet as to when Cooper will resume full-power operations, the spokeswoman said. The reactor, located outside Brownville, Nebraska, is the largest single unit power plant in the state. Entergy Nuclear Nebraska manages and operates the reactor under a contract with NPPD. --Elaine Hiruo, elaine_hiruo@platts.com ------------