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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...

Pollution

The US Supreme Court sides up with the federal agency in nuclear waste facility licensing

The U.S. Supreme Court ruled Wednesday against Texas and the oil industry in their challenge of Nuclear Regulatory Commission's authority to license certain facilities for nuclear waste storage. The conservative Justice Brett Kavanaugh authored the 6-3 ruling that reversed an earlier court decision declaring illegal a license granted by the NRC for a company named Interim Storage Partners, to operate a storage facility of nuclear waste in western Texas. The NRC regulates nuclear power in the United States. The NRC granted a license to Interim Storage Partners, a joint venture between France's Orano and Dallas' Waste Control Specialists in 2021...

Nuclear Power

The US Supreme Court sides up with the federal agency in nuclear waste facility licensing

The U.S. Supreme Court ruled Wednesday against Texas and the oil industry in their challenge of Nuclear Regulatory Commission's authority to license certain facilities for nuclear waste storage. The ruling, which was 6-3 in favor of the NRC, reversed an earlier court decision that declared a license granted by the NRC for a company named Interim Storage Partners operating a nuclear waste facility in western Texas illegal. The NRC regulates nuclear power in the United States. The NRC granted a license to Interim Storage Partners, a joint venture between France's Orano and Dallas' Waste Control Specialists in 2021 for the...

Power Markets

Russia notes Iran's commitment towards NPT and says Israeli attacks against Iran are illegal

The Russian Foreign Ministry condemned on Tuesday the continued Israeli attacks against Iran and said that a diplomatic solution could only be reached to resolve the conflict regarding Tehran's nuclear program. The ministry posted a statement on Telegram saying that "Israel's continued intensive attacks on Iran’s peaceful nuclear sites violate international law, create unacceptable threats to the international security of the world and lead to a nuclear disaster ...,"." The report said that the widespread condemnation of Israeli action showed that Israel only found support "from states that are actually co-participants, and who act for opportunistic purposes." The Ministry noted...

Energy Markets

The key facilities of Iran's nuclear program

The Omani Foreign Minister said that a sixth round of U.S. - Iran nuclear talks would be held in Muscat on Sunday, following the announcement by U.S. president Donald Trump that Tehran will not be permitted to possess a nuclear device. Trump stated on Wednesday that U.S. military personnel are being removed from the Middle East, because it "could be a dangerous area". Here are some of Iran’s most important nuclear facilities. Where are Iran's nuclear facilities? The Iranian nuclear programme is spread out over many different locations. Despite the fact that Israel has been threatening airstrikes for decades, some...

Europe

Electric Utilities

French nuclear regulator allows EDF 1300MW reactors to have their lifespan extended

The French nuclear regulator ASNR announced on Thursday that EDF's 1300MW EDF reactors can operate for longer than their 40-year original lifespan. It said that this would require upgrading to raise the safety standards in order to match those of European Pressurised Reactors. During its 40-year inspection, the regulator will set specific safety requirements for every reactor. EDF must also submit annual reports describing its progress towards meeting these requirements. The decision relates to 20 reactors of the 56-strong country's fleet that will reach their current lifespan approved between now and 2020. The regulator approved the extension of EDF's smaller...

Renewable Energy

German wind power increases as spot prices fall.

German and French baseload electricity prices for the day ahead fell by around 20% on Wednesday, as a cooling heatwave in Europe is expected to reduce demand. Meanwhile, increased wind power production in Germany will increase supply. LSEG data show that the German baseload day-ahead contract fell 19.3% to 86.75 Euro per Megawatt Hour (MWh) at 1011 GMT. The equivalent French contract, at 82.50 Euros/MWh, was 19.7% less expensive. The benchmark European power price has exceeded 100 euros per Megawatt Hour (MWh) for the first since April, as a heatwave early in summer spreads across Europe and increases electricity demand....

Power Markets

The Financial Times reports that Britain's Centrica will take a 15% stake in the Sizewell C nuclear plant.

The Financial Times, citing sources familiar with the talks, reported that British Gas' owner Centrica was set to acquire a 15% stake at the Sizewell C nuclear plant in southeast England. The report stated that all sides were eager to make a final decision about the project's investment before the British Parliament recess, which begins on July 21. Could not confirm immediately the report. The government announced earlier this month that it would invest an additional 14.2 billion pounds (19.25 billion dollars) in the construction of the Sizewell C Nuclear Plant, bringing its total investment to 17.8 billion pounds. Britain...

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,...