Nuclear company pulls out of USA nuclear power, switches to renewable energy sources
EDF to exit US nuclear power over impact of shale gas
FT, By Hugh Carnegy in Paris , 30 July 13 EDF, the world’s biggest producer of nuclear-powered electricity, is to pull out of nuclear production in the US, citing the “revolution” in US energy markets caused by the advent of shale gas…… High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/intl/cms/s/0/d4ee1214-f8e8-11e2-a6ef-00144feabdc0.html#ixzz2abaLez6n
EDF, majority owned by the French state, announced that it was pulling out of CENG, its joint venture in the US with Exelon which operates five nuclear plants. Exelon will take over operation of the CENG plants while EDF will exercise a put option to sell its 49.9 per cent stake in the venture between 2016 and 2022. EDF will also receive an immediate special dividend of $400m…….
Mr Proglio said the prospects for nuclear power in the US had been hit by “a true revolution” caused by the exploitation of shale deposits, which had “completely reshaped the landscape of electric power generation in favour of gas”.
Mr Proglio said EDF would switch its focus in the US to renewable energy sources….
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