Nuclear Power








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Energy Markets

Microsoft and US National Lab tap AI to accelerate nuclear power permit process

Microsoft and an American national laboratory announced on Wednesday that they will be collaborating to explore how artificial intelligence can be used to accelerate the process of assembling the documents required to obtain permits for new nuclear plants. Microsoft and Idaho National Laboratory (INL), have announced that they will use Microsoft's AI to generate engineering and safety analyses reports, which are part of the standard application process for construction licenses and operating licences for nuclear plants in the United States. The AI systems will compile data from the studies into complex applications spanning hundreds of pages. They have been trained...

Nuclear Power

Bulgaria secures Citi for the financing of nuclear expansion at Kozloduy

Bulgaria's energy ministry announced on Wednesday that it has partnered with U.S. Citibank to finance the construction nuclear power units for the Kozloduy NPP. This is the largest energy project the country has undertaken in many years. Zhecho Stankov, Energy Minister of Bulgaria, held final discussions in New York with the leadership of Citi to agree on financing for units 7 & 8 at Bulgaria's nuclear site which will use Westinghouse AP1000 technology. Stankov told Stephanie von Friedeburg of Citi Global Director Public Sector Banking that the agreement with Citi was an important step in ensuring the success of the...

Power Markets

US nuclear regulator asks job seekers political questions

The U.S. Nuclear Power Regulator posted a job posting asking applicants to answer political questions, as President Donald Trump's administration seeks to gain more influence over the independent agency. On Monday, the posting asked applicants to explain how their commitment to U.S. Constitutional principles and the founding document of the United States inspired them to apply for the job. The job is for a senior operation engineer who will serve as an inspector at the Nuclear Regulatory Commission's division of operating reactor security. The questions also asked about how the applicants would improve government efficiency and effectiveness and "how would...

Power Markets

Texas nuclear project talks with "hyperscalers"

In documents released on Tuesday, Fermi, an Texas-based company that wants to build four nuclear reactors next to the U.S. Nuclear Weapons Complex, stated it was in talks with large data managers about leasing agreements for this project. Fermi is a company co-founded Rick Perry, a U.S. former energy secretary. It wants to build 4 AP1000 reactors in a facility that it calls a "hypergrid." The 11 gigawatt facility, powered by nuclear energy, natural gas and renewables, will be built in Amarillo, near the Department of Energy Pantex nuclear weapons factory and in partnership with Texas Tech University. Fermi stated...

Nuclear Power

Dominion Energy is allowed to continue operating South Carolina nuclear plants until 2062

Dominion Energy has received approval from the U.S. Nuclear regulator to extend its operating license for its V.C. The utility has announced that it will continue to operate the Summer power station in South Carolina until 2062. After decades of stagnation in the U.S., nuclear power is undergoing a revival. This is due to a record-breaking demand for data centers that are used by artificial intelligence technologies as well as electrifying industries like transportation and manufacturing. President Donald Trump signed Executive Orders In late May, the U.S. Nuclear Regulatory Commission was directed to reduce regulations and expedite new licenses for...

Energy Markets

Palantir and AI software partners for nuclear construction

Palantir Technologies announced on Thursday that it had teamed up with a company that specializes in nuclear deployment to create a software-driven artificial intelligence system for the construction and operation of nuclear reactors. Investors and companies are re-engaging in nuclear energy, which is seen as a more reliable and cleaner fuel source than solar or wind energy. Palantir and Nuclear Company are creating the Nuclear Operating System (NOS) together. This will simplify construction and allow the firm to build faster and cheaper. The agreement follows U.S. president Donald Trump's executive order that sought to boost U.S. production of nuclear energy...

Climate Change

World Bank and IAEA will cooperate on nuclear energy development and safety

The World Bank, the United Nations Nuclear Watchdog and other international organizations have signed a new agreement on cooperation in the development of safe nuclear energy for developing countries. This includes extending the lives of existing reactors. Ajay Banaga, President of the World Bank and Rafael Grossi, Director General of the International Atomic Energy Agency were to sign a memorandum in Paris as part of the return of the World Bank to nuclear energy finance. In a joint statement, the IAEA, the World Bank, and other international organizations have agreed to collaborate to improve knowledge of the nuclear industry, including...

Power Markets

Three Mile Island nuclear reactor restart fast-tracked until 2027

Constellation Energy executives said that the former Three Mile Island nuclear plant in Pennsylvania could restart in 2027. This is about a full year earlier than originally planned. The plant was put on a faster track to connect with the regional grid. Constellation Energy signed a contract last September for Microsoft data centers. This paved the way for the reopening of Three Mile Island. Three Mile Island is known as the site where a partial nuclear meltdown occurred in 1979, which shook the industry. Constellation’s 20-year agreement to purchase power from Microsoft is emblematic for the lengths that Big Tech...

Electric Utilities

Former US nuclear regulators condemn Trump's firing NRC commissioner

On Tuesday, nearly 30 former employees and officials at the U.S. Nuclear Power Regulator criticized President Donald Trump for firing a commissioner from the independent agency. They said that the action placed politics above safety and public health. Why it's Important The firing of Chris Hanson this month, a Democrat at the five member Nuclear Regulatory Commission, followed Trump's Executive Orders on accelerating the Agency's reactor approvals, as artificial intelligence (AI) and data centers are driving the first increase in U.S. energy demand in 20 years. These orders also included efforts to restructure NRC and evaluate its staffing levels. Experts...

Power Markets

Wall Street Journal, June 24,

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. C&S Wholesale Grocers has agreed to purchase SpartanNash, for approximately $1.77 billion including debt. The company is looking to expand their supply chain while keeping grocery prices low, as inflation worries are on the rise in America. After the companies agreed not to collaborate on boycotts based on political motivations, the U.S. Federal Trade Commission has allowed Omnicom Group to purchase Interpublic Group. New York plans to build the largest nuclear power plant in the United States,...

Nuclear Power

IAEA: US attack on Iran's Isfahan nuclear site has destroyed entrances to tunnels, according to the IAEA

U.S. strikes on the Isfahan complex, which houses Iran's vast uranium-enriched stockpile, caused damage to the tunnels that store a portion of the uranium. The U.N. nuclear watchdog confirmed this Sunday. The International Atomic Energy Agency issued a statement saying that "we have established that the entrances to the underground tunnels on the site were affected." Isfahan is the site where officials have said that a large amount of Iran's highly enriched uranium is stored. Rafael Grossi, chief of IAEA, confirmed in a statement made to the U.N. Security Council shortly after the IAEA's statement that the tunnels were part...

Power Markets

Rosneft's head says OPEC+ can increase oil production by a year

Igor Sechin said that the OPEC+ group, which includes major oil producers around the world, could accelerate its production increases by a year compared to their initial plan. He said the decision of OPEC+ to increase output now looks far-sighted and justifiable in light of the conflict between Israel and Iran. In April, the Organization of the Petroleum Exporting Countries (OPEC) and its allies led by Russia shocked the oil markets by agreeing to a larger-than-expected increase in output for May, despite low prices and a slowing of demand. OPEC+ decided to increase prices by more than originally planned. "The...

Europe

Fossil Fuels

EDF reports 17% decline in first-half profits due to low power prices

EDF, France's nuclear energy company, reported a 17% decline in its core profit for the first half of this year on Thursday. Low European power prices had eroded earnings due to higher nuclear output. The utility reported earnings before interest taxes, depreciation, and amortization (EBITDA) of 15.5 billion euro ($18.24billion) for the six-month period ending June, down from 18.7billion a year ago. The net debt was 50 billion euros at the end last year, a decrease from 54.3 billion euro at the same time. As it prepares for the construction of six new nuclear reactors in the next 15 months,...

Energy Markets

Spot prices drop on weaker demand before the weekend

The falling demand on the main European power markets Thursday lowered prompt prices. This was offset by a weak demand for electricity in advance of the weekend, despite a low wind generation in Germany. The LSEG study also identified the rising solar production as a bearish factor. At 0755 GMT the French baseload price for Friday was 66.3 euros (77.96 dollars) per megawatt-hour (MWH), down 6%. The German equivalent day-ahead price was down 4.7% to 97.3 euros. The power consumption in Germany will be reduced by 500 MW per day to 51.9 gigawatts on Friday. In France, the consumption is...

Energy Markets

German power prices are higher than French power

The day-ahead electricity prices of Europe's largest economy were boosted by falling German wind production volumes early Wednesday, while French prices fell due to an increase in the availability of nuclear capacity. LSEG's analysis highlighted several bullish factors. These included a significant decrease in the supply of wind energy, as well as a reduction in solar and gas capacities in Germany. At 0730 GMT on Thursday, the German baseload was sold at 100.80 Euros ($118.39 per megawatt-hour (MWh), a 29.2% increase over the previous closing price. After a close of 79 euros, the equivalent French baseload contract ranged between 68...

Western Europe

Middle East

Energy Markets

G7 calls for talks to resume on Iran Nuclear Program

According to a statement released jointly, the foreign ministers of the Group of Seven nations stated that they support the ceasefire agreement between Israel and Iran. They also urged the resumption of negotiations for a nuclear deal with Iran. Iran and the U.S. began holding talks in April to find a diplomatic solution for Iran's nuclear programme. Tehran claims its nuclear program is peaceful, while Israel and its allies claim they want to prevent Iran from building a nuclear bomb. The G7 Foreign Ministers stated: "We call for a resumption in negotiations that will result in a comprehensive agreement, which...

Nuclear Power

IAEA chief: return to Iranian sites top priority

Rafael Grossi, the U.N.'s chief nuclear inspector, said that his priority was to get his inspectors to Iran to assess the effects of U.S. military strikes on Iran and to verify its stock of enriched Uranium. Grossi, the head of the International Atomic Energy Agency (IAEA), told a press conference during an Austrian cabinet meeting on security that "this is our number one priority." He wants his inspectors to return to Iranian sites, including the three facilities where it enriches uranium before Israel's strikes on June 13th. When asked if Iran informed him about the status of its stocks, especially...

Nuclear Power

UN Mission says Israeli strike on Iran could have violated international laws

An investigation by the United Nations found that Israel may have violated international humanitarian law in some cases, citing the deaths of three aid workers and civilians in an apartment building in Tehran. Israel launched airstrikes against Iran on 13 June in a surprise assault that resulted in the deaths of many top Iranian commanders. Since then, Israel has intensified its attacks and prompted an exodus out of Tehran. On Sunday, the United States also joined in by attacking Iran's nuclear underground sites. The Iranian Red Cross and several residents of a Tehran apartment complex were among those killed, as...

Energy Markets

Israel claims it has struck Bushehr and other nuclear sites on the Gulf Coast

A spokesperson for the Israeli military said that on Thursday, they had hit nuclear sites in Bushehr and Isfahan and Natanz and continued to target additional facilities. It was not immediately apparent the extent of Israel's assault on Bushehr. Bushehr, Iran's sole nuclear power plant, is located on the Gulf Coast and uses Russian fuel, which Russia takes back after it has been used to reduce the proliferation risk. Gulf States have been concerned about the potential effects of an attack, which could include contamination of air and water. Sources familiar with the issue said that Gulf countries are preparing...

Power Markets

Trump calls for Tehran's evacuation as the Iran-Israel conflict enters its fifth week

Israel and Iran attacked one another for the fifth day in a row on Tuesday. U.S. president Donald Trump called on Iranians to leave Tehran citing his country's alleged rejection of a nuclear arms deal. The White House announced that Trump would leave the Group of Seven Summit in Canada a day earlier than planned due to the Middle East crisis. Fox News reported that he would convene the National Security Council. French President Emmanuel Macron stated that Trump's early departure is positive because the immediate goal was to get Israel to agree to a truce with Iran. "Iran would...

Energy Markets

Costa: It's not the right time to mess up with EU-US Trade

John Irish KANANASKIS (Alberta), June 15, 2015 - Instead of creating economic insecurity through trade tensions between the United States and Europe, the European Union's President Antonio Costa stated on Sunday. Costa, speaking to reporters alongside European Commission President Ursula von der Leyen before a G7 gathering in the Canadian Rockies was a chance to discuss "some problems" among allies and friends. Costa, in response to Washington's shift of its foreign policy away from China, said that the main issue between Europe, and the United States, is European defence. We should concentrate on this. "Since this is the primary issue,...

Oil & Gas

G7 needs to raise pressure on Russia, von der Leyen says

Ursula von der Leyen, President of the European Commission, said that more pressure should be applied to Russia in order to secure a ceasefire. She urged G7 nations intensify sanctions to achieve this goal. The leaders of the largest industrial countries are meeting in Canada’s Rockies, along with European nations. They want to keep the conflict in Ukraine on the minds of U.S. president Donald Trump, despite the fighting between Israel and Iran taking place in the Middle East. The European Union has decided to adopt new sanctions against Russia. However, they have not been able to convince Trump, who...

Power Markets

IAEA Board Resolution declaring Iran in violation of Non-Proliferation Duty

Here are some key passages of a four-page Iran resolution that the 35-nation Board of Governors of the International Atomic Energy Agency passed on Thursday, according to diplomats. The text was still classified and only seen by. The Board of Governors ,... (d) Referring to the Board of Governors resolutions of 19 juin 2020..., of 8 june 2022..., of 17 november 2022 ..., of 6 june 2024 ...,, and of 21 november 2024 ...,, which called on Iran to cooperate fully with the Agency, and decided it was essential and urgent for Iran to act in accordance with its legal...

Nuclear Power

IAEA Board declares Iran in violation of non-proliferation obligations

The U.N. Nuclear Watchdog's Board of Governors, which consists of 35 nations, declared Iran in violation of its nonproliferation obligations for the first time since almost 20 years on Thursday. This could lead to a report being made to the U.N. Security Council. The major step represents the culmination of several simmering standoffs between Iran and the International Atomic Energy Agency that have arisen ever since President Donald Trump, during his first term in office, pulled the U.S. from a nuclear agreement between Tehran and other major powers. That deal then unraveled. Iran is likely to escalate its nuclear program,...

Nuclear Power

Iran's Khamenei refuses US nuclear demands, vows to continue enriching uranium

Ayatollah Ayatollah Khamenei, Iran's supreme leader, said that Tehran would not abandon its uranium-enrichment program, and rejected a U.S. request aimed at ending a decades long nuclear dispute. He said the demand was against Iran's interests. The U.S. proposal to a new nuclear deal Oman, the Middle East envoy of President Donald Trump, Steve Witkoff, and Iranian Foreign Minister Abbas Araqchi, presented a letter to Iran on Sunday. Iran insists on maintaining its uranium-enrichment program on its own soil, and Tehran refuses to send its entire stockpile of highly-enriched uranium abroad - a possible raw material for nuclear weapons. Khamenei...

Power Markets

Energy Minister: Turkey is in talks with Candu about nuclear plants

Alparslan Bayraktar, Turkish Energy Minister, said that Turkey has been in discussions with Candu Energy of Canada and other companies about plans to build Turkey's second and third nuclear plants. Bayraktar, who spoke to journalists during a trip to southeast Turkey Monday, said that Turkey wanted to "put names" on the projects it planned for this year. "Russia, South Korea, and China are all interested in the second or third power plant. He said that in addition to the countries and companies mentioned above, we were also in negotiations with other nations. Canada is one of them. "The Candu company,"...

Nuclear Power

Trump's quest for $1 trillion is unlikely to bring about Saudi-Israeli ties

Donald Trump, the U.S. president, will land in Riyadh, Saudi Arabia, on Tuesday. He will be welcomed with lavish ceremonies, palaces gilded in gold, and the prospect that $1 trillion worth of investments are in store. The raging Gaza war has prevented him from achieving a goal that he had long desired: Saudi-Israeli normalisation. Two Gulf sources and an official from the United States said that behind closed doors, U.S. officials were quietly pressuring Israel to agree to a ceasefire immediately in Gaza. This was one of Saudi Arabia’s conditions for resuming normalization talks. Steve Witkoff, Trump's Middle East envoy,...