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Areva Slumps as Japan Accident Raises Doubts on Nuclear Future – Bloomberg

France’s Areva SA, largest provider
of nuclear equipment and services, fell the most in more than
two years after an earthquake and explosions at Japanese atomic
power plants raised concerns about expansion in the industry.

French Environment Minister Nathalie Kosciusko-Morizet
backed the nation’s reliance on nuclear power. Lawmakers and
industry executives in nations including India, the U.S.,
Germany and the U.K. have called for reviews of atomic safety
procedures as Japan deals with the worst nuclear accident since
the 1986 Chernobyl disaster in Ukraine.

France has 58 reactors, more than any country other than
the U.S. There are 442 reactors supplying about 15 percent of
the world’s electricity, according to the London-based World
Nuclear Association.
There are plans to build more than 155
reactors, mainly in Asia. Sixty five reactors are under
construction, the association said on its website. Japan
accounted for 7 percent of Areva’s revenue in 2010, and 4.7
percent of its backlog, Areva spokeswoman Patrica Marie said.

“The group could be severely impacted by a shift in
momentum in the nuclear industry,” Alex Barnett, an analyst at
Jefferies International Ltd., wrote in a research note today.
“The severe nuclear incident in Japan has put a global nuclear
renaissance into question.”

Investment certificates for Paris-based Areva, in which the
state holds 85.7 percent, fell as much as 10.4 percent, the
biggest drop since November 2008. The non-voting shares were
down 3.12 euros, or 9 percent, to 31.73 euros at 12:22 p.m. in
Paris trading. Electricite de France SA, the world’s largest
operator of reactors, slumped to its lowest in almost two years.

China Sales

Areva is trying to complete the sale of two reactors plus
nuclear fuel to India, and of two other reactors in China. The
Paris-based company is providing equipment for four reactors
being built in France, Finland and China, and is competing to
sell as many as 10 reactors in the U.K., which plans to start
replacing old plants in the next decade. The company is also
bidding for nuclear business in countries including Italy.

India, which had been planning to increase its nuclear
power generation, will reconsider its expansion in the wake of
the Japanese accident, Nuclear Power Corp. of India said.

“This event may be a big dampener for our program,”
Shreyans Kumar Jain, chairman of India’s state-run monopoly
producer, said by phone from Mumbai yesterday.

In December Areva and NPCIL signed a preliminary agreement
for the construction of two reactors, the first of a series of
six at Jaitapur in western India.

Order Delays

“Areva could see some delays in orders” including
Jaitapur, Louis Boujard, an analyst at Aurel-BGC in Paris, wrote
in a note today.

China may also weigh the effects of the accident as it
completes its energy plans, Xie Zhenhua, vice chairman of the
National Development and Reform Commission, said in Beijing
yesterday. China plans to triple its number of reactors,
according to the World Nuclear Association.

The pace of the country’s nuclear development won’t be
affected by events in Japan, China National Nuclear Corp.
President Sun Qin said in an interview in Beijing today.

France will continue to rely on nuclear power, Kosciusko-
Morizet told Europe 1 radio today.

“We can’t switch to renewables overnight,” Kosciusko-
Morizet said. “For the foreseeable future, we will need
nuclear.” EDF is building its 59th reactor and plans a 60th in
coming years.

The U.S., where Areva is building a nuclear-fuel recycling
plant and has a joint venture to build reactor parts, should
slow construction of new plants until officials can assess
whether the Japan situation signals a need for more safety
measures, said Senator Joseph Lieberman of Connecticut, an
independent who heads the Homeland Security Committee.

To contact the reporter on this story:
Francois de Beaupuy in Paris at
fdebeaupuy@bloomberg.net.

To contact the editor responsible for this story:
Benedikt Kammel at
bkammel@bloomberg.net

Continue reading here: Areva Slumps as Japan Accident Raises Doubts on Nuclear Future – Bloomberg

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A Time to Rethink Nuclear Power – New York Times

As events unfold in Japan, we are witnessing the extreme dangers of nuclear power plants. Every time there is a serious explosion at a nuclear power plant people within a large radius of the site have to be evacuated for long periods of time, or indefinitely, as was the case with Chernobyl. Nuclear power plants are a far greater danger than any prospect of another world war. The fewer that are built, the safer we will all be.

Nuclear power is an international concern and no government anywhere in the world has the right to take it for granted that accidents will not happen. No government has the right to deny that it has a responsibility outside its national borders.

We should now be asking ourselves a very important question: Are atomic power plants really worth it given the trouble they cause when things get out of control?

Maurice Fitzgerald, Shanbally, Ireland


Continue reading here: A Time to Rethink Nuclear Power – New York Times

Radiation Falls at Japan Atomic Plant; Explosion Still Possible

March 13, 2011, 8:49 AM EDT

By Tsuyoshi Inajima and Yuji Okada

(See EXT2 for more news on the earthquake.)

March 13 (Bloomberg) — Japanese officials battling to prevent a potential meltdown at a nuclear power station said an explosion was possible at a second reactor building after the plant’s cooling system failed.

Water levels temporarily fell at Tokyo Electric Power Co.’s No. 3 reactor at the Fukushima Dai-Ichi plant 135 miles north of Tokyo, raising the possibility of a hydrogen explosion, Chief Cabinet Secretary Yukio Edano said in Tokyo today.

Asia’s largest utility is battling to prevent a meltdown of two reactors at the nuclear power station by flooding them with water and boric acid to eliminate the potential for a catastrophic release of radiation into the atmosphere. The station lost power to keep the reactor core cool after the March 11 earthquake, the largest ever recorded in Japan.

The “likelihood of success should be fairly high,” Dale Klein, a professor of nuclear engineering at the University of Texas at Austin and former chairman of the U.S. Nuclear Regulatory Commission, said of the seawater flooding. “This should have been part of their overall strategy to keep the core covered and cooled.”

Radiation rose yesterday after a hydrogen leak caused a blast that destroyed the walls of the No. 1 reactor. Four workers were injured in the explosion, while no damage was reported to the container holding the reactor’s radioactive core, according to Tokyo Electric.

Radiation levels peaked at 13:52 p.m. local time and have declined since, Tokyo Electric spokesman Naoki Tsunoda said.

Wind Directions

Winds in the area of the Fukushima plant are blowing at less than 18 kilometers (11 miles) per hour generally in an easterly direction, according to a 12 p.m. update from the Japan Meteorological Agency.

The International Atomic Energy Agency, in partnership with the World Meteorological Organization, forecasts that winds will blow any atmospheric radiation northeast over the next three days, according to an IAEA statement.

Tokyo Electric is preparing to vent gas from containment areas at neighboring nuclear power station, Fukushima Dai-Ni, spokesman Akitsuka Kobayashi said yesterday. The station has four reactors.

The IAEA said Japan has informed the Vienna-based agency that casualties have risen among workers at the reactor site. A crane worker was killed at the Fukushima Dai-Ni plant and seven emergency response workers have been injured, including four hurt in yesterday’s explosion, the IAEA said in a statement on its website.

Tokyo Electric will start power outages in parts of the greater Tokyo area from tomorrow, according to a company statement.

Nuclear Meltdown

Inadequate cooling of the reactor core may lead to a meltdown, the most dangerous kind of nuclear power accident because of the threat of radiation releases, according to the Nuclear Regulatory Commission. The 1979 partial meltdown at the Three Mile Island reactor in Pennsylvania failed to breach the containment building, according to the commission.

“Only a small amount of active particles made it outside and were released into the atmosphere, so there were no consequences for the population,” Rafael Arutyunyan, first deputy director of Institute for Safety of Nuclear Energy at the Russian Academy of Sciences, said on Russian television over the weekend in reference to Three Mile Island. “That’s the way we’re heading at the moment” in Fukushima, he said.

‘Station Blackout’

The Fukushima complex lost power after the earthquake when its reactors shut automatically and a backup generator failed, making it difficult to circulate cooling water, Tokyo Electric has said. Without circulation, water within the reactor can boil away, exposing the hot fuel rods and starting a meltdown, Klein said. Three Mile Island operators exposed the core by mistake, the U.S. concluded.

“The difference here is that people understand what’s happening,” Klein said. “They are just having difficulty getting the equipment to work because of the very adverse conditions of both an earthquake and a tsunami.”

The type of accident that involves the loss of both the electrical grid and backup power on site is known as a “station blackout,” said Ken Bergeron, a physicist and former staff member at Sandia National Laboratories, where he worked on nuclear reactor accident simulation.

“It’s considered to be extremely unlikely, but the station blackout has been one of the great concerns for decades,” he told reporters on a conference call. “We are in uncharted territory. We are in the land where probability says we shouldn’t be and we are hoping that all of the barriers to release of radioactivity will not fail.”

Chernobyl Meltdown

There are six reactors at the Dai-Ichi site. The unit being flooded, No. 1, is a General Electric Co. boiling-water reactor model that is capable of generating 439 megawatts of power and began commercial operation in 1971, according to the International Atomic Energy Agency.

If the seawater-flooding attempt fails, engineers may have to pump in sand and cement to entomb the reactor, Peter Bradford, another former member of the Nuclear Regulatory Commission, said on the press conference call.

That ended contamination from the 1986 Chernobyl accident in Ukraine, where the meltdown of a reactor without a containment building killed at least 28 workers, the United Nations Scientific Committee on the Effects of Atomic Radiation said in a 2011 report.

Death Toll

Thousands were evacuated in Japan as workers vented radioactive gas yesterday from the Fukushima plant. The death toll from the quake and the tsunami that followed topped 970, with more than 700 missing, 1,683 injured and 350,000 in emergency shelters. The death toll may reach 10,000, national broadcaster NHK reported, citing local police.

Tokyo Electric took almost two years to restart power generation at the Kashiwazaki Kariwa nuclear plant in the country’s northwest after a 6.8 magnitude temblor on July 16, 2007, caused a fire and radiation leaks at the world’s biggest atomic energy station.

Nuclear energy provides almost 30 percent of Japan’s electricity, with total capacity of about 47,000 megawatts, with plans to increase that to 40 percent by 2017, according to the World Nuclear Association. The nation’s first reactor began operating in 1966 and there are 54 reactors in the country.

–With assistance from Yuriy Humber, Michio Nakayama, Aki Ito and Aaron Sheldrick in Tokyo, Anna Shiryaevskaya in Moscow, Kim Chipman in Washington, Jim Polson in New York and Rachel Layne in Boston. Editors: Amit Prakash, Peter Langan

To contact the reporters on this story: Tsuyoshi Inajima in Tokyo at tinajima@bloomberg.net; Yuji Okada in Tokyo at yokada6@bloomberg.net

To contact the editor responsible for this story: Amit Prakash at aprakash1@bloomberg.net

Continue reading here: Radiation Falls at Japan Atomic Plant; Explosion Still Possible

Radiation Exceeds Regulatory Levels at Japan Nuclear Plant

March 12, 2011, 10:58 PM EST

By Tsuyoshi Inajima and Yuji Okada

(See EXT2 for more news on the earthquake.)

March 13 (Bloomberg) — Radiation levels increased near the Fukushima nuclear power plant 135 miles north of Tokyo and cooling systems at a second reactor failed, intensifying concerns about a possible meltdown.

The radiation at the Fukushima Dai-Ichi plant exceeded Japanese limits after an explosion yesterday destroyed the walls of the reactor building and injured four workers following the magnitude-8.9 earthquake on March 11, said Naoyuki Matsumoto, a spokesman for Tokyo Electric Power Co., the operator of the plant. No damage to the building housing the reactor was reported, the company said.

Tokyo Electric is battling to prevent a meltdown of two reactors at the nuclear power station by flooding them with water and boric acid to eliminate the potential for a catastrophic release of radiation. The station lost power needed to keep the reactor core cool after the earthquake two days ago, the largest ever recorded in Japan.

Chief Cabinet Secretary Yukio Edano, Japan’s top government spokesman, said today the radiation is not at a dangerous level.

Winds in the area of the Fukushima plant are blowing at less than 18 kilometers (11 miles) per hour generally in an easterly direction, according to a 12 p.m. update from the Japan Meteorological Agency.

Tokyo Electric began injecting sea water and boric acid to cool its Fukushima Dai-Ichi No. 1 reactor, according to a statement today. The plant’s No. 3 reactor has been vented to release pressurized gas after its cooling system failed, said spokesman Akitsuka Kobayashi.

Success ‘High’

The “likelihood of success should be fairly high,” Dale Klein, a professor of nuclear engineering at the University of Texas at Austin and former chairman of the U.S. Nuclear Regulatory Commission, said of the seawater flooding. “This should have been part of their overall strategy to keep the core covered and cooled.”

Inadequate cooling of the reactor core may lead to a meltdown, the most dangerous kind of nuclear power accident because of the threat of radiation releases, according to the Nuclear Regulatory Commission. The 1979 partial meltdown at the Three Mile Island reactor in Pennsylvania failed to breach the containment building, according to the commission.

“Only a small amount of active particles made it outside and were released into the atmosphere, so there were no consequences for the population,” Rafael Arutyunyan, first deputy director of Institute for Safety of Nuclear Energy at the Russian Academy of Sciences, said on Russian television over the weekend in reference to Three Mile Island. “That’s the way we’re heading at the moment” in Fukushima, he said.

Lost Power

The Fukushima complex lost power after the earthquake when its reactors shut automatically and a backup generator failed, making it difficult to circulate cooling water, Tokyo Electric has said. Without circulation, water within the reactor can boil away, exposing the hot fuel rods and starting a meltdown, Klein said. Three Mile Island operators exposed the core by mistake, the U.S. concluded.

“The difference here is that people understand what’s happening,” Klein said. “They are just having difficulty getting the equipment to work because of the very adverse conditions of both an earthquake and a tsunami.”

The type of accident that involves the loss of both the electrical grid and backup power on site is known as a “station blackout,” said Ken Bergeron, a physicist and former staff member at Sandia National Laboratories, where he worked on nuclear reactor accident simulation.

‘Station Blackout’

“It’s considered to be extremely unlikely, but the station blackout has been one of the great concerns for decades,” he told reporters on a conference call. “We are in uncharted territory. We are in the land where probability says we shouldn’t be and we are hoping that all of the barriers to release of radioactivity will not fail.”

Radioactive cesium, a product of atomic fission, was detected near the site yesterday, indicating a meltdown may have begun, said Yuji Kakizaki, a spokesman for the Nuclear and Industrial Safety Agency.

“If the fuel rods are melting and this continues, a reactor meltdown is possible,” Kakizaki said.

There are six reactors at the Dai-Ichi site. The unit being flooded, No. 1, is a General Electric Co. boiling-water reactor model that is capable of generating 439 megawatts of power and began commercial operation in 1971, according to the International Atomic Energy Agency.

If the seawater-flooding attempt fails, engineers may have to pump in sand and cement to entomb the reactor, Peter Bradford, another former member of the Nuclear Regulatory Commission, said on the press conference call.

Chernobyl Meltdown

That ended contamination from the 1986 Chernobyl accident in Ukraine, where the meltdown of a reactor without a containment building killed at least 28 workers, the United Nations Scientific Committee on the Effects of Atomic Radiation said in a 2011 report.

Thousands were evacuated in Japan as workers vented radioactive gas yesterday from the plant 220 kilometers (140 miles) north of Tokyo. The death toll from the quake and a tsunami that swept over the northern coastline after the quake topped 600 and an estimated 4,000 were stranded in evacuation centers.

Rain or Snow

Temperatures may fall bringing rain or snow to earthquake stricken northern Japan after tomorrow, with lows dropping to 1 degree Celsius (34 degrees Farenheit), according to Japan Meteorological Agency forecasts. Lows may fall below freezing later in the week, the agency said.

The reactor at the Fukushima Dai-Ichi plant may remain shut for a year, Seth Grae, chief executive officer of Lightbridge Corp., a nuclear energy consulting company whose staff previously inspected the plant, said in an interview with Pimm Fox on Bloomberg Television’s “Taking Stock” on March 11.

“If they do lose several of those plants for a few months it could have a significant effect on Japan’s economy,” he said. “A trickle down could hit factories, slowing down Japan’s production.”

Japanese Reactors

Tokyo Electric took almost two years to restart power generation at the Kashiwazaki Kariwa nuclear plant in the country’s northwest after a 6.8 magnitude temblor on July 16, 2007, caused a fire and radiation leaks at the world’s biggest atomic energy station.

Nuclear energy provides almost 30 percent of Japan’s electricity, with total capacity of about 47,000 megawatts, with plans to increase that to 40 percent by 2017, according to the World Nuclear Association. The nation’s first reactor began operating in 1966 and there are 54 reactors in the country. A nuclear plant usually operates as many as 8 reactors.

A neighboring nuclear power station, Fukushima Dai-Ni, has four reactors. Tokyo Electric has also started preparing to vent gas from containment areas at that plant, Akitsuka Kobayashi, a company spokesman, said yesterday.

“When the pressure starts building up, the emergency procedure is to start venting,” Dave Lochbaum, director of the nuclear safety project at the Union for Concerned Scientists, said in a telephone interview. “They’ve essentially entered a beat-the-clock game. As long as there is no fuel damage, there will be radioactivity, but it will be very low.”

–With assistance from Yuriy Humber, Michio Nakayama and Aki Ito in Tokyo, Anna Shiryaevskaya in Moscow, Kim Chipman in Washington, Jim Polson in New York and Rachel Layne in Boston. Editors: Teo Chian Wei, Aaron Sheldrick.

To contact the reporters on this story: Tsuyoshi Inajima in Tokyo at tinajima@bloomberg.net; Yuji Okada in Tokyo at yokada6@bloomberg.net.

To contact the editor responsible for this story: Amit Prakash at aprakash1@bloomberg.net

Continue reading here: Radiation Exceeds Regulatory Levels at Japan Nuclear Plant

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