Global Energy News Roundup: March 17


The Forum on Energy weekly news roundup brings together a mix of global energy stories from around the web. It is published every Thursday morning on Forum on Energy and is available on Twitter via @forumonenergy

foe_newsroundup_blueEDF Seeks Additional Hinkley Point Funding
EDF is negotiating with the French government to obtain further financial support for the Hinkley Point project in the UK. A review of the project has reportedly identified areas where it could further be de-risked. These additional stipulations come as EDF continues to work to secure its financing in a difficult market.
Source: World Nuclear News

Decoupling of Global Emissions and Economic Growth Confirmed
According to a report by the International Energy Agency (IEA), global energy-related CO2 emissions have stagnated for the second year in a row, remaining at 32.1 billion tons annually since 2013, despite the global economy continuing to grow by more than 3%. This change is largely attributed to a surge in renewable energy sources and increased efficiency measures. The two largest emitters- China and the US- registered a decline in energy-related CO2, but this was offset by increasing emissions mainly in emerging economies.
Source: IEA

Toshiba Faces Investigation by US Authorities
The US Department of Justice and the Securities and Exchange Commission are reportedly looking into whether Toshiba Corp. fraudulently hid $1.3 billion in losses at its nuclear power operations. US authorities are known to open cases even when another jurisdiction- in this case Japan- is already investigating, meaning that the company could face further enforcement action. The US can exert jurisdiction in part because the allegations involve the Westinghouse Electric Co. unit, which is based in the United States.
Source: Bloomberg, Reuters

CGN Posts Strong Results for 2015
China General Nuclear (CGN), a major Chinese state-owned energy corporation, announced a 12.3% increase in revenue in 2015 over 2014. CGN stated that it brought three new reactors into operation in 2015 and began the construction of a further three units domestically. As of the end of 2015, the corporation reported that it managed 14 operating nuclear power reactors, with another 14 reactors under construction in total.
Source: World Nuclear News