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The UK's nuclear energy fiasco, page-3

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JACK

21,132 Posts.

14

06/06/16

15:46

Post #: 17963707
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Originally posted by sierra ↑

The insanity continues.

"Imagine you are the CFO of a company that has a market capitalisation of €18 billion. You are being asked to find investment of €22 billion for a new nuclear plant, the first of a whole new fleet. Without that fleet your company cannot hope to grow, assuming it sticks with nuclear generation, and therefore without that one plant its business model will be exposed as broken. Yet your plant is the most expensive power station in the world, and one of the most expensive human construction projects ever, in real terms. And here is the thing: you carry €37 billion of net debt on your balance sheet.
You have two further problems. The first is €55 billion in estimated liabilities to keep a fleet of aging reactors, of earlier generations, open beyond their long-scheduled closedown dates. The second is an unknown number of further billions to fix a grave safety flaw in the steel of a pressure vessel in the forerunner of the new plant you must build.
What do you do?
You resign, of course.
Which is exactly what EDF CFO Thomas Piqemal did on 8^th March."

http://reneweconomy.com.au/2016/just-add-another-few-billion-pounds-uks-nuclear-energy-fiasco-92286

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Should just stick with the Coal fired plants hey Sierra, tried and true.
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