The Qinshan nuclear power plant in Haiyan, Zhejiang province. China plans to build dozens of nuclear power plants despite questions over safety. AFP
The Qinshan nuclear power plant in Haiyan, Zhejiang province. China plans to build dozens of nuclear power plants despite questions over safety. AFP
The Qinshan nuclear power plant in Haiyan, Zhejiang province. China plans to build dozens of nuclear power plants despite questions over safety. AFP
The Qinshan nuclear power plant in Haiyan, Zhejiang province. China plans to build dozens of nuclear power plants despite questions over safety. AFP

Fukushima and Chernobyl haunt atomic future


Colin Randall
  • English
  • Arabic

In the long shadows of Chernobyl and Fukushima lurks lingering uncertainty over the global nuclear energy sector as arguments rage about safety and cost-effectiveness.

Europe has been severely affected by a reluctance to invest as concerns grow about the reliability of some nuclear plants and the hefty costs of construction, operation and waste disposal.

The World Nuclear Industry Status Report (WNIR) for 2013, whose authors were drawn from France, the United Kingdom and Japan and led by the German-born nuclear energy consultant Mycle Schneider, has found 20 years after reaching a peak of 17 per cent, nuclear's share of world energy provision has slumped to 10 per cent.

The triple Japanese catastrophe of tsunami, earthquake and nuclear meltdown at Fukushima in March 2011 is the obvious cause of two years of accelerating decline. The 4 per cent fall in power generated by nuclear plants by the end of that year was already a record low; last year, the decrease was greater still, at 7 per cent.

The picture in Europe is decidedly patchy, Fukushima having added to the suspicion inspired by the Russian Chernobyl explosion, fire and meltdown a quarter of a century earlier. Russia, the status report says, maintains a major commitment to the sector, with "one of the most aggressive nuclear power construction programmes in the world with 10 reactors under construction and suggestions of deals imminent for further projects all over the world".

But even there, progress has slowed while in parts of the European Union, notably Germany, the anti-nuclear lobby has made significant advances.

The German chancellor, Angela Merkel, announced two months after Fukushima that Germany, whose power supplies from nuclear energy fell from 22 per cent in 2010 to 17 per cent in 2011, would abandon the source completely by 2022.

The decision prompted the permanent closure of six nuclear power plants, already shut down for tests after the Japanese disaster, and two more subject to longterm inactivity because of technical problems. All remaining nine plants are due to be shut down within the target timetable, as Germany turns to renewable energy.

Even in France, the provider of the world's seventh-cheapest electricity for both householders and industry, is scaling back.

Nearly 80 per cent of electricity is generated by nuclear power and the country exudes deep Gallic pride as a world leader in low-cost, carbon dioxide-free energy.

It is also the EU's biggest exporter but there, too, Fukushima has stirred misgivings. The socialist president, François Hollande, plans to close 24 older reactors by 2025. This would reduce France's reliance on nuclear power for its energy needs to about 50 per cent.

Given Mr Hollande's unpopularity, this may be a bold promise he and his party are in no position to see through. The opposition centre-right Union for a Popular Movement (UMP) says the pledge threatens higher domestic power bills and lost jobs.

But how resilient, in the face of growing international concerns, has been the huge Russian nuclear sector?

Twenty-seven years after the world's worst nuclear power plant accident, in what was then part of the USSR controlled from Moscow, the largest remnant of the Soviet bloc is still a global force.

Lessons were undoubtedly learnt from the accident at the plant, 14km north-west of the Ukrainian city of Chernobyl. But suspicion has never been fully allayed. The incident killed 31 people directly and the radioactive particles released over the western USSR and parts of Europe left a legacy of illness that has still to be accurately measured.

But, far from losing faith with nuclear-generated energy, Russia has pressed ahead with its building programme. An energy strategy set out 10 years ago committed the country to reducing dependency on natural gas. Three years later, targets were set providing for nuclear power to meet 23 per cent of electricity needs by 2020 and 25 per cent by 2030. By last year, the proportion had risen to just under 18 per cent.

While Russia is one of few countries to be increasing its use, progress is slow, the WNIR points out, since the proportion already stood at 12 per cent 20 years ago.

It has 33 reactors in operation. These include 11 RBMKs, the type used at Chernobyl.

Elsewhere, Britain offers a classic example of a country that cannot quite make up its mind.

The government gave consent in 2010 for up to eight new plants to be built privately. But the Scottish parliament later ruled no new reactors would be allowed in Scotland and the share of the energy market has dwindled across the UK from a peak of 26 per cent in 1997 to 19 per cent last year.

All but one existing nuclear power plant in the UK is scheduled to close by 2023 and, as shale gas developments present another fuel source option, companies are in no hurry to commit to new building.

The French nuclear giant EDF has delayed until the end of this year a decision on whether to go ahead with a new £14 billion (Dh79.79bn) plant at Hinkley Point, Somerset and wants government assurances on subsidies.

Perhaps the recent experience of Ukraine, an independent state since the break-up of the Soviet Union, offers another glimmer of hope for the industry's European prospects.

The average age of Ukrainian reactors is now 25 years, just five years from the end of their ordinary 30-year life expectancy. But the European Bank for Reconstruction and Development has awarded the state-owned nuclear operator, Energoatom, a €300 million (Dh1.46 billion) loan towards the €1.45bn cost of upgrading all the country's reactors. But the WNIR's conclusions highlight the authors' belief that the sector is in decline.

"This report's emphasis on recent post-Fukushima developments should not obscure an important fact," they say.

"The world nuclear industry already faced daunting challenges long before Fukushima, just as the US nuclear power industry had largely collapsed before the 1979 Three Mile Island accident."

The industry seems in need of a significant boost if the long-cherished dream of a world powered by clean, cheap and effectively limitless atomic energy is not to remain just that.

The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

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Company%20Profile
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Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

PROFILE OF CURE.FIT

Started: July 2016

Founders: Mukesh Bansal and Ankit Nagori

Based: Bangalore, India

Sector: Health & wellness

Size: 500 employees

Investment: $250 million

Investors: Accel, Oaktree Capital (US); Chiratae Ventures, Epiq Capital, Innoven Capital, Kalaari Capital, Kotak Mahindra Bank, Piramal Group’s Anand Piramal, Pratithi Investment Trust, Ratan Tata (India); and Unilever Ventures (Unilever’s global venture capital arm)

Who has lived at The Bishops Avenue?
  • George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
  • Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
  • Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
  • Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills. 
Hunting park to luxury living
  • Land was originally the Bishop of London's hunting park, hence the name
  • The road was laid out in the mid 19th Century, meandering through woodland and farmland
  • Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds

 

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

Tank warfare

Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks. 

“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.

“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”

Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)