Michael Schank on LinkedIn: Clyde Peter Jupiter Obituary 2024 - Russon Brothers Mortuary & Crematory (2024)

A speech worth reading!Oppenheimer knew that we cannot dissociate technology from the world it was born in. The scientific discovery, from the impact it may have on humanity. How technology is made, from how it should be used.And this is maybe where our role as policymakers kicks in. Scientists developed nuclear energy. But politics decided on its use. A weapon, or a source of energy. After the war, around 1955, politics created the International Atomic Energy Agency, to promote the safe, secure and peaceful use of nuclear technologies. Which then created the conditions for the nuclear Non-Proliferation Treaty. When it comes to digital, this is our 1955. And the policy choices we make today will shape how technology develops and how it is used, for decades to come. “This isn't a new weapon, it is a new world”. Indeed, just like nuclear decades ago, technology has the power to unfold a completely new world. But it is up to this world to decide what to make of technology. A weapon to diminish our humanity, and turn us against each other. Or, how I tend to see as a realist, a formidable source of human progress. https://lnkd.in/eV_n6pWz

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Net Zero, Security of Supply and Energy Independance are strategical key items for the coming decades. Nuclear power has provided these capabilities through many decades and EU is now recognizing that a nuclear expansion is needed to meet Europes key goals. Commissioner Kadri Simson is clear that a European Industrial Alliance on SMRs is needed to drive this effort.Globally I and we see that nuclear power is finally getting accepted and understood for the capabilities and characteristics that nuclear provide to the energy system. This means that we hopefully soon can leave the almost religious debate on what green technology is the best and rather focus on how we can use ALL green technologies (hydro, wind, nuclear, PV) to ensure a green, safe, stable and economically optimized electricity supply.

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My article

Further to our recent article….

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The European industrial strategy and green deal is now truly making progress with nuclear energy to meet demand for electricity, hydrogen and SAF. I'm really looking forward to having Rolls-Royce SMR lean forward in the EU SMR Alliance together with Nuward.Margrethe Vestager: "We approved today a €300 million measure which enables France to support Nuward’s research and development project on innovative small modular reactors. This project will contribute to the decarbonisation of energy systems and to the EU’s open strategic autonomy, while limiting possible distortions of competition."https://lnkd.in/dK7_stQd#nuclearenergy is #cleanenergy

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The European SMR Industrial Alliance has been announced on 6.2.2024. Small and Advanced Modular Reactors (SMRs and AMRs) are important for Europe, because they can contribute to low carbon energy production and strategic autonomy of Europe. 🔑SMRs and AMRs are smaller-scale, more flexible versions of nuclear reactors. They can deliver electricity, hydrogen and process heat for energy-intensive industrial applications, district heating and cooling, and water desalination. They are complementary to renewables and integrate well in future energy systems. 💡Already 15 European countries are developing SMR projects. They are interested in their flexibility, efficiency, affordability and advanced safety features.🔬At the European Commission-Joint Research Centre we are delivering a wide range of scientific expertise on SMR-relevant technologies. Small modular reactors - European Commission (europa.eu)🤝Together with the new SMR Industrial Alliance, we are ready to accompany the development and deployment of SMR projects in the EU.https://lnkd.in/efhkGsTCEU Science, Research and Innovation https://lnkd.in/eKvUgTaD

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A viable, reliable and efficient contender, judging from his past business capabilities.

European Commission approves national State Aid for construction of nuclear power plant in Czechia..."The Court of Justice has clarified that, in line with Article 194(2) TFEU, Member States may determine the conditions for exploiting their energy resources, their choice between different energy sources and the general structure of their energy supply, which does not preclude that choice from being nuclear energy.""Under EU State Aid rules, the Commission analyses the compatibility of the measure under Article 107(3)(c) TFEU, which enables Member States to support the development of certain economic activities. The support should remain necessary and proportionate and not adversely affect trading conditions to an extent contrary to the common interest...""The beneficiary of the measure is Elektrárna Dukovany II (‘EDU II'), a fully owned subsidiary of the ČEZ Group, the only nuclear power plant operator in Czechia. Czechia plans to grantdirect price support in the form of a power purchasing contractwith a State-owned Special Purpose Vehicle (‘SPV'). The contract will ensure stable revenues for the nuclear power plant for a period of 40 years. The beneficiary will also benefit from asubsidised State loan to cover a majority of the construction costs and a protection mechanism against unforeseen events or policy changes that may make the realisation of the project impossible..." [All of these elements could be evaluated using transfer pricing techniques against arm's length benchmarks.]Interestingly the approved State Aid package also includes i) an OTC long term fixed-floating electricity price swap derivative (styled as a Contract for Difference or CfD) with c.40 years of annual payments and ii) some form of excess payment claw-back mechanism (e.g. a dynamic cap applied in arrears) and iii) a commitment for at least 70% of open market sales and the rest sold through transparent auctions.(N.B. Of course the history of derivatives disputes shows that such long term swaps can be highly prone to derivatives mis-selling and mis-pricing, and the history of competition disputes shows that high value auctions can be inherently vulnerable to manipulation and bid-rigging, so due care will need to be taken by all parties going forwards.)

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