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Politics : Sioux Nation

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Nov 21 9:30 AM EST

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To: SiouxPal who wrote (83264)	10/17/2006 10:57:36 AM
From: Wharf Rat	Read Replies (1) of 361192

Nuclear closures threaten supply By Roland Gribben (Filed: 17/10/2006) The questions hanging over British Energy's nuclear fleet Britain's nuclear power industry almost ground to a halt yesterday just hours after Tony Blair heralded a new era in energy supply security with the opening of a new gas pipeline from Norway. The discovery of more cracks in boiler tubes forced British Energy to shut down two plants, Hunterston B in Scotland and Hinkley Point B in Gloucestershire. The company also disclosed for the first time that only one of its eight plants is currently operating at full output. advertisementThe closure of the ageing 30-year old plants and the extent of the supply cutbacks sent British Energy shares into free fall and raised renewed fears about winter supply shortages. It also dealt a further blow to Government hopes of selling its 65pc holding in the company. The shares slumped almost 24pc or 133.5p to 427p after sliding to 400p at one stage, slashing the company's market capitalisation by £800m to £2.44bn in the process. Nuclear power accounts for around 20pc of electricity output but the catalogue of problems listed by British Energy posed fresh questions over the reliability of the plants at a time when the Government is planning an expansion of atomic power. Only the Torness plant in Scotland is operating at normal output. Hartlepool, Dungeness B, the two plants at Heysham and the newest nuclear station, Sizewell B have either stopped or are operating well below capacity because of extensive leaks of cooling water, repairs and maintenance. British Energy has told investors and the Trade and Industry Department it is unable to provide a firm timetable about when its plants will be making a bigger contribution to power supplies. Stephen Billingham, the finance director, said the unplanned shutdowns meant the company would have to buy supplies from the wholesale market to meet contracts. The market duly responded by pushing up the price of baseload electricity from 4.3p a unit to 4.5p. Analysts say the company is paying the penalty for failing to invest enough to maintain plants now operating well beyond their planned lifespan. Both Hunterston B and Hinkley Point B are scheduled for closure in 2011. British Energy has enjoyed a profit and shares recovery since being bailed out by the Government in 2002. The upsurge in electricity prices on the back of the surge in oil and gas has boosted profits and had ministers considering an earlier than planned share sale. The nuclear setback overshadowed the opening ceremony of the Norwegian Langeled pipeline which is capable of providing 20pc of Britain's winter gas needs. The 700-mile long pipeline, the world's longest undersea link, brings gas from Norwegian fields to feed into the gas network at Easington, East Yorkshire. It was hoped the new link would avoid a re-run of last winter's tight energy market and help arrest the sharp jump in prices but the nuclear power headaches are upsetting the calculations. telegraph.co.uk

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