Global Energy News Roundup: October 5

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

Perry Sends Lifeline to Two Nuclear Reactors

Last week Energy Secretary Rick Perry announced that his department would be providing $3.7 billion for loan guarantees to help with the construction of two reactors at a nuclear power plant in Georgia. The loan guarantees will be provided to Georgia utilities that are working to complete the two plants at the Vogtle power plant site. This move comes after Secretary Perry directed his staff to “develop a report including an assessment of the reliability and resilience of the electric grid and an overview of the evolution of electricity markets.” The study described nuclear energy as an important provider of baseload power and an essential source of dependability to the U.S. power grid.

Source: The Washington Post

IAEA Secures Funding for New Laboratory

The International Atomic Energy Agency secured funding for a new lab building from the countries of Germany, Japan, Norway and the USA. This funding will allow for the complete construction of a new laboratory building in Seibersdorf, Austria. The new laboratory, named the Flexible Modular Laboratory, is expected to be completed by the end of 2018 and will help to assist countries in using technology and nuclear science to achieve development goals. Director General Yukiya Amano stated that “the modernization of the nuclear applications laboratories is one of the most important projects ever undertaken by the Agency. The benefits will be felt by member states for decades to come…”

Source: World Nuclear News

Hinkley Point C Project Construction Continues

China, Great Britain, and France are working together to continue construction on the Hinkley Point C Project located on the Bristol Channel coastline of Somerset in Great Britain. China General Nuclear Power Corp (CGN) is investing heavily in the project, along with a French utility named Electricite de France SA (EDF). EDF and CGN have already worked together on a nuclear power station in southern China. Richard Mayson, a senior director at EDF has called the construction of the Hinkley plant “a landmark for China’s nuclear industry.”

Source: Telegraph

New Jersey Nuclear Power Plant May Shut Down Sooner than Expected

A nuclear power plant in New Jersey may shut down sooner than its 2019 expiration date. The Oyster Creek nuclear power plant in Ocean County is the oldest operating nuclear plant in the nation and generates about 9% of New Jersey’s electricity. Yesterday, New Jersey Governor Chris Christie stated, “I can tell you from recent conversations with the executives at Exelon, that plan is not only on track and on time, but a little bit ahead of schedule,” he said. “And we’re working to get as much of that done and completed before we leave office in January.”

Source: NewsWorks