Global Energy News Roundup: June 1

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

Russia and France Extend Nuclear Cooperation Agreement

Rosatom and the French Alternative Energies and Atomic Energy Commission (CEA) have signed an agreement that extends the two countries nuclear power cooperation. Both Emmanuel Macron and Vladimir Putin were there to witness the signing of the agreement at the St. Petersburg International Economic Forum. According to the article, the agreement states that “the parties are to strengthen their technical and commercial interaction in: energy efficiency and alternative energy sources; the development of energy accumulation systems and fast neutron reactors; engineering and equipment supplies for nuclear power plants; the supply of nuclear fuel for commercial and scientific purposes; the processing of used nuclear fuel; and the reuse of recovered materials.”

Source: World Nuclear News

Kansai to Cut Electricity Prices

Kansai Electric Power Company will provide its customers with more than a 5% price cut to its electricity prices. The price cut is the result of the restart of units 3 and 4 at its Ohi nuclear power plant. Similar price cuts were implemented after units 3 and 4 were restarted at its Takahama plant. Specifically, the electricity rates will be cut by an average of 5.36%, from JPY17.37 (16 US cents) per kilowatt-hour to JPY16.44/kWh, as of July 1. In a statement, a representative from Kansai said “as we earn understanding from the people in the communities where these nuclear power plants are located, we will continuously seek to resume the operation of those that have been confirmed to be safe as soon as possible with safety as a top priority…We will also provide an attractive rate menu for customers and further make efforts to upgrade our services to enhance the competitiveness of our electricity both in price and service.”

Source: World Nuclear News

Hitachi to Build Nuclear Plant in Wales

This week Hitachi was given the green light to build a nuclear power plant in Wales. The United Kingdom’s government will pay the majority of the costs to build the plant, which will be located in Wylfa Newydd, Anglesey. This development signals a positive step for Japan’s nuclear energy industry and its international presence.

Source: Compelo

Toshiba Scraps Plan to Build Reactors in Texas

On Thursday Toshiba Corp. announced that it will not be building two nuclear reactors at a US power plant as originally planned. The announcement came after the plan suffered long delays and failed to find investors. The project was part of the Nuclear Innovation North America, which is 90 percent owned by New Jersey-based NRG and 10 percent owned by Toshiba.

Source: Reuters