San Francisco, California
London, United Kingdom
Jonathan Dart, Consul General, British Consulate-General Toronto, will discuss the finance, public policy and energy infrastructure issues leading up to the decision to build the Hinkley Point C nuclear power station in Somerset. Hinkley will be the first new UK nuclear generating station in a generation. When built it will provide 7 percent of the country’s electricity. The agreement between UK government and French utility EDF guarantees a “strike price” of £92.50 per megawatt hour – roughly double the current wholesale price of power – for electricity produced at the £16 bn plant over a period of 35 years.
Financing nuclear energy projects has become increasingly complex in recent years. The potential for projects going over budget and difficulty in quantifying project risk contribute to financing complexity and cost. The large capital requirements in nuclear energy projects have typically required that national governments become involved in order to guarantee payments or backstop projects. In many jurisdictions the high level of complexity has made nuclear projects prohibitively expensive. Coupled with negative public sentiment towards nuclear energy there has been a decline in nuclear power useage in several Western economies. Concurrently, there are numerous countries such as China and India, that are ramping up their nuclear energy capabilities. In the United Kingdom, after years of decline in nuclear energy the government has decided to proceed with building a new reactor. How is this being financed? What changed in the eyes of policy makers that they decided to proceed with new nuclear? Is there an opportunity for Canadian funds and investment bankers to participate in the large nuclear projects that will be deployed globally?
Future of Nuclear Seminar Series
11:30 - 12:00 Registration and Networking
12:00 - 12:45 Welcome & Presentation during lunch
12:45 - 1:30 Discussion, Q&A, Official Closing
1:30 - 2:00 Networking & Informal Discussion
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