EON Withdraws From Finnish Nuclear Project

[bananas]

http://www.bloomberg.com/news/2012-10-24/eon-to-withdraw-from-finnish-fennovoima-nuclear-reactor-project.html

EON Withdraws From Finnish Nuclear Project on Price Slide
By Torsten Fagerholm - 2012-10-24T13:49:07Z

EON AG, Germany’s biggest utility, plans to withdraw from the Fennovoima Oy nuclear reactor in Finland after European energy prices declined, threatening the viability of the project.

Fennovoima, in which EON owns a 34 percent stake, plans to begin construction of a 1,600 to 1,800-megawatt reactor at Pyhaejoki in northern Finland in late 2016, Timo Kallio, executive vice president of construction, said today in an interview in Tampere, Finland. EON, the sole provider of nuclear expertise to the project, will exit the venture in the first quarter, Roger Strandahl, a spokesman for EON in Malmoe, Sweden, said today by telephone.

“We weren’t expecting it,” Fennovoima Chairman Pekka Ottavainen said by phone today. “EON’s decision to withdraw means that next spring when we ask for more funding to take the project to the next stage, we need to resolve the question of who will replace EON.”

Utilities are pulling out of nuclear projects across Europe as uncertainty over energy prices makes them too risky. EON’s withdrawal from Finland follows its decision in September 2011, along with SSE Plc and RWE AG (RWE), to give up building nuclear plants in the U.K.

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Let's hope the project is cancelled, the money can be better spent on efficiency and renewables.

[midnight]

1. Nuclear energy not profitable? The awakening begins..

Nearly 50% of Prince Charles' Energy Comes From Renewables - Emissions Dropped 22% Last Year
http://www.treehugger.com/renewable-energy/nearly-50-of-prince-charles-energy-comes-from-renewables-emissions-dropped-22-last-year.html

No photos allowed at Highgrove House--Prince Charles' country house and organic garden. Its 37 acres are a showcase for HRH's interest in traditional and organic growing methods. Special organised tours are allowed in order to see it under a strict no photo policy, and what a place it is. HRH bought it in 1980 and has been planting and planning it since then. He has engaged the creative minds of the greatest gardeners in England and has come up with a changing, organic garden that reflects his many interests.

The Prince uses all organic materials in his gardens, he recycles water, has dug bore holes and has a reed bed system for grey water. Sheep are brought in from a neighbouring farm to graze and cut the meadow. Overhanging trees are trimmed by cows brought in to eat the bottom branches. No cement is used in the paving, instead there are bits of earth or wild thyme in between the paving stones so that insects can eat there. All workmen and craftsmen used are local to the area.
http://www.treehugger.com/sustainable-product-design/a-visit-to-prince-charles-highgrove-garden.html

[dipsydoodle]

2. Highgrove

[tama]

3. Olkiluoto 3 has been a disaster

It was supposed to be ready in 2009, now the "hope" is that it will be ready by 2015. They should just abandon it.
http://en.wikipedia.org/wiki/Olkiluoto_Nuclear_Power_Plant