Nuclear

Older UK readers will remember the Green Goddesses – fire engines held in reserve for moments of national emergency. At the height of a crisis army drivers would maintain an essential service. Well, lo and behold, some new Green Goddesses are to be created as the government launches its “emergency electricity reserve”. Read more

What happens now for the numerous companies, led by the oil majors, who have chosen to invest in Russia? The surprising answer may be that the short-term risks are less serious than the longer term prospects of disengagement as energy consumers, especially in Europe, reduce their dependence on a supplier they do not trust. Read more

I am glad I don’t live in eastern Europe and I can quite understand why against a good deal of economic logic Algirdas Butkevičius, the Lithuanian prime minister, is pushing very hard to force his country into the eurozone. The reason is the reassertion of Russian power across the region. The advance is not military but economic with energy issues to the fore. Comecon is being recreated. Read more

Is energy policy made in Brussels ? The obvious answer would be no. The EU may have an energy commissioner but he has little real authority. Energy policy is still under the control of individual national governments and as a result there are 28 very different approaches and outcomes. France is supplied by nuclear power. Germany by contrast is phasing out nuclear in favour of renewables. Much of Eastern Europe still depends on coal. There is cross border trade, of course, but most countries have their own distinct energy market.

A series of announcements over the last few weeks, however, suggests that the European Commission which is in its last year in office wants to assert its authority over energy issues by indirect means, using environmental and competition policy to create a de facto Common Energy Policy. A Commission policy statement on energy will be published before the end of January. The issue promises to become more visible and part of the continuing debate about the balance of power between Brussels and the member states. Read more

Just as the FT’s reports from Tehran show that there is a long way to go on one nuclear deal, so it also seems that negotiations on the £16bn plan to build new nuclear for the UK at Hinkley Point in Somerset are far from over.

When agreement between the UK Government and EDF on the strike price was announced six weeks ago the impression was given that the deal was done. This is not correct. Numerous details remain unresolved, opposition to the costs involved and the structure of the deal has mounted and, crucially, the financing has not been agreed. Full-scale construction work cannot begin until the funding is in place. The key lies with the Chinese. Read more