Global Energy News Roundup: May 12


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

EIA IEO 2016Shikoku Reactor Scrapped
Shikoku Electric Power Co. ended operation of its Ikata No. 1 reactor on May 10. The unit was nearly 40 years old, and it was determined in March that the reactor would be decommissioned due to the prohibitive costs of restarting the aging reactor under the heightened safety regulations. This makes Ikata 1 the sixth unit to be scrapped under the new regulations.
Source: The Japan Times

EIA Projects Strong Nuclear Growth
The new International Energy Outlook from the U.S. Energy Information Administration (EIA) predicts that nuclear energy generation will nearly double by 2040. The report asserts that by 2040, developing countries in Asia will account for more than half the projected increase in consumption, with non-fossil fuels growing faster than fossil fuels, though fossil fuels will still comprise the majority of global generation. The EIA projects that nuclear generating capacity will grow by 2.3% annually between 2012 and 2040, ultimately reaching 4.5 trillion kWh.
Source: World Nuclear News

Toshiba Posts Massive Loss, Names New CEO
On the heels of its recent Westinghouse writedown, Toshiba reported that its net loss for the year to March rose to ¥483.2 billion, from ¥37.8 billion last year. The company claims the net loss is mainly due to a slump in its electric and social infrastructure sector, including the nuclear power businesses, as well as extra costs related to restructuring. The company also announced that long-time employee and current Senior Vice President Satoshi Tsunakawa will assume the role of CEO in June.
Source: The Japan Times

Historic Coal-Free Generation in UK
For what is believed to be the first time since 1882, Britain generated no electricity from coal on the morning of May 10. The National Grid confirmed that none of Britain’s coal power plants were operational between midnight and 4:00 AM.
Source: The Telegraph