4. The UK Energy Supply Status Quo
• Under central assumptions there will be a need for approximately 60
GW of net new capacity by 2025
• Of this 60 GW as much as 35 GW could come from renewables with
25 GW from other conventional generation capacity
• The Government expects that under this approach a significant
proportion of the 25 GW will in practice be filled by nuclear power
• 25 GW is equivalent to about 16 of the largest reactors available on
the market!
• Source: Draft Nuclear National Policy Statement
http://data.energynpsconsultation.decc.gov.uk/documents/npss/EN-6.pdf
5. UK Nuclear Status Quo
• NUCLEAR CURRENTLY SUPPLIES ABOUT 14% OF UK ELECTRICITY
• British Energy (EDF owned)
– 14 Advanced Gas-Cooled reactors
– 1 Pressurised Water Reactor at Sizewell B
– These will start closing in 2014, with all except
Sizewell B currently scheduled to be retired by 2023.
– Four Magnox Reactors – two each at Wylfa and Oldbury
--owned by the UK Nuclear Decommissioning Authority and
operated by Magnox North, which in turn are owned by US-
based EnergySolutons
– All four will close within the next couple of years
6. Nuclear Companies to watch
• Utilities - 16,200 MW of new reactors planned
• NNB Genco: EDF Energy (80%) and Centrica (20%)
– Plans to build four, 1,650-MW Areva EPR reactors
• Horizon Nuclear Power: E.On UK and RWE npower
(50-50)
– Plans to build up to 6,000 MW (roughly 4 to 6 reactors)
• Iberdrola (37.5%), GDF Suez (37.5%) & Scottish
and Southern Energy (25%) (Unnamed consortium)
– Plans to build up to 3,600 MW
7. Nuclear Companies to watch
• Reactor vendors:
• Areva – 1,650-MW EPR
– Under construction in Finland and France
• Westinghouse (Toshiba) – 1,100-MW AP1000
– Under construction in China; ordered in US
• GE Hitachi -- ESBWR
8. Nuclear Companies to watch
• AMEC
• ARUP
• Atkins
• Babcock
• Balfour Beatty
• Bam Nuttall
• Bechtel
• Carillion
• CH2M Hill
• Costain
• Doosan Babcock
• EnergySolutions
• Fluor Corp.
• Jacobs Ltd.
• Kier Construction
• Laing O'Rourke
• Lloyd's Register
• Mace Group Ltd.
• Morgan Sindall
• Mott McDonald
• Rolls Royce
• Serco
• Sir Robert McAlpine
• Thompson Valves
• URS
• Shaw Group
9. The Costs
• Olkiluoto-3, an Areva EPR being built in Finand
– Built by Areva and Siemens on a turnkey contract worth €3.2
billion which under the contract was to be operating at the end of
2009. Currently at least 50% over budget (Areva has made
provisions for €2.6 billion in losses, but hopes to recoup some in
lawsuits) and four years behind scheduled start-up.
Flamanville-3, an Areva EPR being built in France
-- Being built by EDF; Cost has risen from €3.3 billion in 2005 to
€5 billion currently (and counting?). Project is about three years
behind schedule for operation.
10. The costs (continued)
• 2 AP1000 reactors to be built in Georgia (US); cost estimated
at $14 billion
• 2 GE ABWR reactors planned at the South Texas Project;
cost estimated at $13 billion
• EDF/Constellation Energy EPR reactor planned; cost
estimated at more than $10 billion.
