France's nuclear power poster child has a money meltdown

By Columbus Free Press


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The myth of a successful nuclear power industry in France has melted into financial chaos.

With it dies the corporate-hyped poster child for a "nuclear renaissance" of new reactor construction that is drowning in red ink and radioactive waste.

Areva, France's nationally owned corporate atomic façade, has plunged into a deep financial crisis led by a devastating shortage of cash.

Electricite de France, the French national utility, has been raided by European Union officials charging that its price-fixing may be undermining competition throughout the continent.

Delays and cost overruns continue to escalate at Areva's catastrophic Olkiluoto reactor construction project in Finland. Areva has admitted to a $2.2 billion, or 55%, cost increase in the Finnish building site after three and a half years. The Flamanville project — the only one now being built in France — is already over $1 billion more expensive than projected after a single year under construction.

In 2008, France's nuclear power output dropped 0.1%, while wind generation rose more than 37%.

Attempts to build new French reactors in the US are meeting stiffened resistance.

And the definitive failure of America's Yucca Mountain nuke waste dump mirrors France's parallel inability to deal with its own radioactive trash.

Widely portrayed as the model of corporate success, reactor-builder Areva is desperately short of money. As it begs a bailout from its dominant owner, the French government, Areva's mismanagement and overextension in promoting and building new reactors has wrecked its image in worldwide capital markets. According to Mycle Schneider, Paris-based author of "Nuclear Power in France — Beyond the Myth," Areva shares have plunged by over 60% since June 2008, twice as much as the CAC40, the standard indicator of the 40 largest French companies on the stock market.

Areva's hyper-active public relations department has made much of recent orders to build two new reactors in China. But it's now begging France's taxpayers for some $4 billion in short term bailout money, and may need still another $6 billion more to pay for investments in uranium mines, fuel production and heavy manufacturing ventures.

Areva will also need more than 2 billion Euros (about US$3 billion) to buy back shares in its nuclear reactor unit after Germany's Siemens pulled out of a joint venture. There have been significant, highly publicized bumps in the Chinese transaction. And Areva may now be forced to pony up billions more in penalties from delays and overruns at its reactor construction fiasco in Finland.

The Finnish government will also have to meet additional costs from trading in carbon emissions because it had firmly counted on the new reactor to supply "green" power as of this year. Olkiluoto is now not expected to deliver electricity before 2012.

Areva's woes have caused French President Nicolas Sarkozy to face possible job cuts and asset sales at the government-controlled energy giant, which was formed in 2001.

China's two-reactor order includes a promise from Areva to supply up to 20 years worth of nuclear fuel. Areva also hopes to sell at least seven reactors in the US, but these plans are meeting stiff resistance. Complex ownership and licensing battles have erupted at Constellation Energy, meant to be the conduit for two new reactors in Maryland.

Ratepayer revolts in Florida and Missouri have arisen over plans to force the public to pay for new reactors as they are being built. Electric rates in the Sunshine State have already begun to soar due to proposed nuke construction, prompting an angry grassroots upheaval.

The potential American reactor market has also been bloodied by the definitive disposal of the proposed high-level dump at Yucca Mountain, Nevada. After decades as the centerpiece of America's "solution" to the nuke waste problem, with at least $10 billion spent on it, Yucca's failure underscores France's own waste dilemma.

The French reprocessing center at La Hague has come under widespread attack for its massive radiation discharges into the English Channel and surrounding atmosphere. The plant has produced over nine thousand containers of extremely high level wastes with no safe place to go. Its by-product of plutonium has complicated global attempts to curb the spread of radioactive materials capable of being turned into nuclear bombs.

In addition to the reprocessing wastes, without a permanent repository of its own, France's 58 reactors have also accumulated over ten thousand tons of spent fuel rods, as the 104 units in the U.S. constantly generate.

Areva says it hopes to raise cash by selling part of a uranium enrichment plant under construction in southern France to Japan's Kansai Electric. Other asset sales may be hampered by slumping market values. Areva also hopes to partner with U.S. weapons builder Northrop Grumman to build heavy reactor equipment in Virginia.

But on March 11, European Union regulators raided EdF offices because "suspected illegal conduct may include actions to raise prices on the French wholesale electricity market." The stunning action against the massive conglomerate, which is 84.8% owned by the French government, could result in huge fines.

The EU says EdF may have manipulated prices and redrawn contracts for some 60 key corporate users. Nuke backers constantly tout that close to 80% of France's electricity comes from reactors whose power flows through EdF. But Areva's cash shortage and EdF's price-fixing scandal underscore the huge financial imbalances imposed by building and operating atomic reactors.

According to Schneider, "EDF's shares dropped by over 40% during the last six months alone. When management in February 2009 announced that larger than expected charges had corroded profits, share value dropped by 7% overnight and continued to fall since. The EDF share now stands 12% below the value when it was first introduced to the stock market in November 2005. Not really a brilliant investment."

EdF and Areva are at the core of what has been labeled as the global "nuclear renaissance." Their escalating money problems underscore an epic failure that has been a significant factor in the current global economic crisis. After a half- century of massive government subsidies in the U.S., UK, France and elsewhere, atomic energy still staggers under an unsustainable load of high construction costs and uncompetitive prices for the electricity it generates.

EdF's recent $17.5 billion takeover of nuke utility British Energy came with a warning from EdF officials that England's commitment to wind turbines could undermine the future of nuclear power. The statement evoked widespread astonishment and scorn from the environmental community.

In the financial community, concerns still linger over the half-trillion-dollar (and still climbing) cost of the 1986 explosion at Chernobyl. The instant $900 million conversion of the "asset" at Three Mile Island into an epic liability occurred 30 years ago this month. (The conversion of Michigan's Fermi I reactor at Monroe into a $100 million molten mess happened October 5, 1966).

The costs from the earthquake last year that crippled seven reactors at Japan's Kashiwazaki are still rising. The failure of Yucca Mountain has converted billions of dollars in utility and taxpayer investments into pure waste. Growing grassroots movements in Vermont and elsewhere threaten to cut off license extensions and shut American reactors at which decommissioning funds have been slashed by the collapse of U.S. investment funds.

The argument that atomic energy provides an answer for global warming turned to a deep embarrassment in France when reactors were forced to shut during the summer heat because they were raising river temperatures far beyond legal limits. In another case, a reactor containment had to be sprayed in order to cool it back to operational temperatures. Similar shutdowns came at a reactor in Alabama.

But as massive cost overruns and delays continue to escalate at Areva's showpiece reactor construction fiasco in Finland, the industry clamors for unlimited access to taxpayer funds. The surging stream of atomic failure continues to guarantee that private investors will instead favor true green technologies like solar, wind and efficiency.

Thus in France, as elsewhere, the "nuclear renaissance" may be stillborn. In 2007, world nuclear electricity generation dropped by an unprecedented 2%. According to Schneider, in 2008, for the first time in nuclear power history, no new reactor was connected to the grid anywhere on Earth.

As Schneider's "Nuclear Power in France — Beyond the Myth" points out, after 35 years of nuclear power development, the French "nuclear dreamland" gets only 16% of its final energy from nuclear power. Commissioned by the Greens-EFA Group in the European Parliament (Brussels, December, 2008), Schneider's report shows that despite its huge nuclear commitment, almost half of France's energy consumption still comes from oil.

In fact, says Schneider, "the wasteful nature of the French economy and households leads to a higher per capita consumption of oil than in Germany, Italy, the UK or even the EU on average.

"Those who think that nuclear power would be a cheap and clean way to render the U.S. less dependent on oil should have a close look at the French record."

At the French heart of its "renaissance," the nuclear clock is winding down, not up. Time is running out for a radioactive technology that, after fifty years, remains unable to muster a sustainable level of private financing, shows no real promise of ever paying for itself, and has now plunged into deepening financial chaos.

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Russia suspected as hackers breach systems at power plants across US

US Power Grid Cyberattacks target utilities and nuclear plants, probing SCADA, ICS, and business networks at sites like Wolf Creek; suspected Russian actors, malware, and spear-phishing trigger DHS and FBI alerts on critical infrastructure resilience.

 

Key Points

Intrusions on energy networks probing ICS and SCADA, seeking persistence and elevating risks to critical infrastructure.

✅ Wolf Creek nuclear plant targeted; no operational systems breached

✅ Attackers leveraged stolen credentials, malware, and spear-phishing

✅ DHS and FBI issued alerts; utilities enhance cyber resilience

 

Hackers working for a foreign government recently breached at least a dozen US power plants, including the Wolf Creek nuclear facility in Kansas, according to current and former US officials, sparking concerns the attackers were searching for vulnerabilities in the electrical grid.

The rivals could be positioning themselves to eventually disrupt the nation’s power supply, warned the officials, who noted that a general alert, prompting a renewed focus on protecting the U.S. power grid, was distributed to utilities a week ago. Adding to those concerns, hackers recently infiltrated an unidentified company that makes control systems for equipment used in the power industry, an attack that officials believe may be related.

The chief suspect is Russia, according to three people familiar with the continuing effort to eject the hackers from the computer networks. One of those networks belongs to an ageing nuclear generating facility known as Wolf Creek -- owned by Westar Energy Inc, Great Plains Energy Inc, and Kansas Electric Power Cooperative Inc -- on a lake shore near Burlington, Kansas.

The possibility of a Russia connection is particularly worrying, former and current official s say, because Russian hackers have previously taken down parts of the electrical grid in Ukraine and appear to be testing increasingly advanced tools, including cyber weapons to disrupt power grids, to disrupt power supplies.

The hacks come as international tensions have flared over US intelligence agencies’ conclusion that Russia tried to influence the 2016 presidential election, and amid U.S. government condemnation of Russian power-grid hacking in recent advisories. The US, which has several continuing investigations into Russia’s activities, is known to possess digital weapons capable of disrupting the electricity grids of rival nations.

“We don’t pay attention to such anonymous fakes,” Kremlin spokesman Dmitry Peskov said, in response to a request to comment on alleged Russian involvement.

It was unclear whether President Donald Trump was planning to address the cyber attacks at his meeting on Friday with Russian President Vladimir Putin. In an earlier speech in Warsaw, Trump called out Russia’s “destabilising activities” and urged the country to join “the community of responsible nations.”

The Department of Homeland Security and Federal Bureau of Investigation said they are aware of a potential intrusion in the energy sector. The alert issued to utilities cited activities by hackers since May.

“There is no indication of a threat to public safety, as any potential impact appears to be limited to administrative and business networks,” the government agencies said in a joint statement.

The Department of Energy also said the impact appears limited to administrative and business networks and said it was working with utilities and grid operators to enhance security and resilience.

“Regardless of whether malicious actors attempt to exploit business networks or operational systems, we take any reports of malicious cyber activity potentially targeting our nation’s energy infrastructure seriously and respond accordingly,” the department said in an emailed statement.

Representatives of the National Security Council, the Director of National Intelligence and the Nuclear Regulatory Commission declined to comment. While Bloomberg News was waiting for responses from the government, the New York Times reported that hacks were targeting nuclear power stations.

The North American Electric Reliability Corp, a nonprofit that works to ensure the reliability of the continent’s power system, said it was aware of the incident and was exchanging information with the industry through a secure portal.

“At this time, there has been no bulk power system impact in North America,” the corporation said in an emailed statement.

In addition, the operational controls at Wolf Creek were not pierced, according to government officials, even as attackers accessed utility control rooms elsewhere in the U.S., according to separate reports. “There was absolutely no operational impact to Wolf Creek,” Jenny Hageman, a spokeswoman for the nuclear plant, said in a statement to Bloomberg News.

“The reason that is true is because the operational computer systems are completely separate from the corporate network.”

Determining who is behind an attack can be tricky. Government officials look at the sophistication of the tools, among other key markers, when gauging whether a foreign government is sponsoring cyber activities.

Several private security firms, including Symantec researchers, are studying data on the attacks, but none has linked the work to a particular hacking team or country.

“We don’t tie this to any known group at this point,” said Sean McBride, a lead analyst for FireEye Inc, a global cyber security firm. “It’s not to say it’s not related, but we don’t have the evidence at this point.”

US intelligence officials have long been concerned about the security of the country’s electrical grid. The recent attack, striking almost simultaneously at multiple locations, is testing the government’s ability to coordinate an effective response among several private utilities, state and local officials, and industry regulators.

Specialised teams from Homeland Security and the FBI have been scrambled to help extricate the hackers from the power stations, in some cases without informing local and state officials. Meanwhile, the US National Security Agency is working to confirm the identity of the hackers, who are said to be using computer servers in Germany, Italy, Malaysia and Turkey to cover their tracks.

Many of the power plants are conventional, but the targeting of a nuclear facility adds to the pressure. While the core of a nuclear generator is heavily protected, a sudden shutdown of the turbine can trigger safety systems. These safety devices are designed to disperse excess heat while the nuclear reaction is halted, but the safety systems themselves may be vulnerable to attack.

Homeland Security and the FBI sent out a general warning about the cyber attack to utilities and related parties on June 28, though it contained few details or the number of plants affected. The government said it was most concerned about the “persistence” of the attacks on choke points of the US power supply. That language suggests hackers are trying to establish backdoors on the plants’ systems for later use, according to a former senior DHS official who asked not to be identified.

Those backdoors can be used to insert software specifically designed to penetrate a facility’s operational controls and disrupt critical systems, according to Galina Antova, co-founder of Claroty, a New York firm that specialises in securing industrial control systems.

“We’re moving to a point where a major attack like this is very, very possible,” Antova said. “Once you’re into the control systems -- and you can get into the control systems by hacking into the plant’s regular computer network -- then the basic security mechanisms you’d expect are simply not there.”

The situation is a little different at nuclear facilities. Backup power supplies and other safeguards at nuclear sites are meant to ensure that “you can’t really cause a nuclear plant to melt down just by taking out the secondary systems that are connected to the grid,” Edwin Lyman, a nuclear expert with the Union of Concerned Scientists, said in a phone interview.

The operating systems at nuclear plants also tend to be legacy controls built decades ago and don’t have digital control systems that can be exploited by hackers. Wolf Creek, for example, began operations in 1985. “They’re relatively impervious to that kind of attack,” Lyman said.

The alert sent out last week inadvertently identified Wolf Creek as one of the victims of the attack. An analysis of one of the tools used by the hackers had the stolen credentials of a plant employee, a senior engineer. A US official acknowledged the error was not caught until after the alert was distributed.

According to a security researcher who has seen the report, the malware that activated the engineer’s username and password was designed to be used once the hackers were already inside the plant’s computer systems.

The tool tries to connect to non-public computers, and may have been intended to identify systems related to Wolf Creek’s generation plant, a part of the facility typically more modern than the nuclear reactor control room, according to a security expert who asked to note be identified because the alert is not public.

Even if there is no indication that the hackers gained access to those control systems, the design of the malware suggests they may have at least been looking for ways to do so, the expert said.

Stan Luke, the mayor of Burlington, the largest community near Wolf Creek, which is surrounded by corn fields and cattle pastures, said he learned about a cyber threat at the plant only recently, and then only through golfing buddies.

With a population of just 2,700, Burlington boasts a community pool with three water slides and a high school football stadium that would be the envy of any junior college. Luke said those amenities lead back to the tax dollars poured into the community by Wolf Creek, Coffey County’s largest employer with some 1,000 workers, 600 of whom live in the county.

E&E News first reported on digital attacks targeting US nuclear plants, adding it was code-named Nuclear 17. A senior US official told Bloomberg that there was a bigger breach of conventional plants, which could affect multiple regions.

Industry experts and US officials say the attack is being taken seriously, in part because of recent events in Ukraine. Antova said that the Ukrainian power grid has been disrupted at least twice, first in 2015, and then in a more automated attack last year, suggesting the hackers are testing methods.

Scott Aaronson, executive director for security and business continuity at the Edison Electric Institute, an industry trade group, said utilities, grid operators and federal officials were already dissecting the attack on Ukraine’s electric sector to apply lessons in North America before the US government issued the latest warning to “energy and critical manufacturing sectors”. The current threat is unrelated to recently publicised ransomware incidents or the CrashOverride malware, Mr Aaronson said in an emailed statement.

Neither attack in Ukraine caused long-term damage. But with each escalation, the hackers may be gauging the world’s willingness to push back.

“If you think about a typical war, some of the acts that have been taken against critical infrastructure in Ukraine and even in the US, those would be considered crossing red lines,” Antova said.

 

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Bruce nuclear reactor taken offline as $2.1B project 'officially' begins

Bruce Power Unit 6 refurbishment replaces major reactor components, shifting supply to hydroelectric and natural gas, sustaining Ontario jobs, extending plant life to 2064, and managing radioactive waste along Lake Huron, on-time and on-budget.

 

Key Points

A 4-year, $2.1B reactor overhaul within a 13-year, $13B program to extend plant life to 2064 and support Ontario jobs.

✅ Unit 6 offline 4 years; capacity shift to hydro and gas

✅ Part of 13-year, $13B program; extends life to 2064

✅ Creates jobs; manages radioactive waste at Lake Huron

 

The world’s largest nuclear fleet, became a little smaller Monday morning. Bruce Power has began the process to take Unit 6 offline to begin a $2.1 billion project, supported by manufacturing contracts with key suppliers, to replace all the major components of the reactor.

The reactor, which produces enough electricity to power 750,000 homes and reflects higher output after upgrades across the site, will be out of service for the next four years.

In its place, hydroelectric power and natural gas will be utilized more.

Taking Unit 6 offline is just the “official” beginning of a 13-year, $13-billion project to refurbish six of Bruce Power’s eight nuclear reactors, as Ontario advances the Pickering B refurbishment as well on its grid.

Work to extend the life of the nuclear plant started in 2016, and the company recently marked an operating record while supporting pandemic response, but the longest and hardest part of the project - the major component replacement - begins now.

“The Unit 6 project marks the next big step in a long campaign to revitalize this site,” says Mike Rencheck, Bruce Power’s president and CEO.

The overall project is expected to last until 2033, and mirrors life extensions at Pickering supporting Ontario’s zero-carbon goals, but will extend the life of the nuclear plant until 2064.

Extending the life of the Bruce Power nuclear plant will sustain 22,000 jobs in Ontario and add $4 billion a year in economic activity to the province, say Bruce Power officials.

About 2,000 skilled tradespeople will be required for each of the six reactor refurbishments - 4,200 people already work at the sprawling nuclear plant near Kincardine.

It will also mean tons of radioactive nuclear waste will be created that is currently stored in buildings on the Bruce Power site, along the shores of Lake Huron.

Bruce Power restarted two reactors back in 2012, and in later years doubled a PPE donation to support regional health partners. That project was $2-billion over-budget, and three years behind schedule.

Bruce Power officials say this refurbishment project is currently on-time and on-budget.

 

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Trudeau vows to regulate oil and gas emissions, electric car sales

Canada Oil and Gas Emissions Cap sets five-year targets to cut sector emissions toward net-zero by 2050, alongside an EV mandate, carbon pricing signals, and support for carbon capture, clean energy jobs, climate policy.

 

Key Points

A federal policy to regulate and reduce oil and gas emissions via 5-year targets, reaching net-zero by 2050.

✅ Regulated 5-year milestones to cut oil and gas emissions to net-zero by 2050

✅ Interim EV mandate: 50% by 2030; 100% zero-emission sales by 2035

✅ $2B fund for clean energy jobs in oil- and gas-reliant communities

 

Liberal Leader Justin Trudeau vowed to regulate total emissions from Canada’s oil and gas producers as he laid out his first major climate change promises of the campaign Sunday, a plan that was welcomed by several environmental and climate organizations.

Trudeau said that if re-elected, the Liberals will set out regulated five-year targets for emissions from oil and gas production to get them to net-zero emissions by 2050, a goal that, according to an IEA report will require more electricity, but also create a $2 billion fund to create jobs in oil and gas-reliant communities in Alberta, Saskatchewan and Newfoundland and Labrador.

“Let’s be realistic, over a quarter of Canada’s emissions come from our oil and gas sector. We need the leadership of these industries to decarbonize our country,” Trudeau said.

“That’s why we’ll make sure oil and gas emissions don’t increase and instead go down with achievable milestones,” while ensuring local economies can prosper.“

The Liberals are also introducing an interim electric vehicle mandate, which will require half the cars sold in Canada to be zero-emission by 2030, and because cleaning up electricity is critical to meeting climate pledges, the policy pairs with power-sector decarbonization, ahead of the final mandated target of 100 per cent by 2035.

Trudeau spoke in Cambridge, Ont., where protesters once again made an appearance amid a visible police presence. Officers carried one woman off the property when she refused to leave when asked.

Trudeau alluded to the protesters and their actions, which included sounding sirens and chanting expletives, as he defended his government’s record on climate change including progress in the electricity sector nationally, and touted its new plan.

“Sirens in the background may remind us that this is a climate emergency. That’s why we will move faster and be bolder,” he said.

Canada’s largest oilsands producers have already committed to reaching net zero greenhouse gas emissions by 2050, but the policy proposed Sunday “calls the oil companies’ bluff” by making those goals a legislated requirement, said Keith Stewart, senior energy strategist with Greenpeace Canada.

The new timeline for electric vehicles also “sends a clear signal to auto companies to get cracking (and build them here),” he said on Twitter, even as proposals like a fully renewable grid by 2030 are debated today. “We’d like to see this happen faster but the shift away from voluntary targets to requirements is big.”


Merran Smith, executive director of Clean Energy Canada, a climate program at Simon Fraser University, said clean electricity, clean transportation and “phasing out oil and gas with accountable milestones” must be key priorities over the next decade, aligning with Canada’s race to net-zero and the role of renewable energy.

“Today’s announcement, which checks all of these boxes, is not just good ambition_it’s good policy. Policy that will drive down carbon pollution and drive up clean job growth and economic competitiveness. It is policy that will drive Canada forward with cleaner cars, power Canada with clean electricity, and invest in businesses that will last such as battery manufacturing, electric vehicle manufacturing and low carbon steel,” Smith said in an email.

Michael Bernstein, executive director of the climate policy organization Clean Prosperity, said the promises laid out Sunday offer a “strong boost” to the federal government’s previous climate commitments.

He said the organization prefers market incentives such as carbon pricing, that spur innovation over further regulation. But since the largest oilsands companies have already committed to reaching net-zero emissions, he said the newly unveiled policy could provide some support.

“ First, I would encourage the Liberal Party to release independent modelling showing the types of emissions reductions they expect to achieve with their new package of policies. Second, many policies are referred to in general terms so I hope the Liberal Party will provide further details in the coming days,” he said.

“Finally, the document does not specifically mention carbon capture or carbon dioxide removal technologies but both technologies will be critical to achieve some of the pledges in today’s announcement, especially reaching net-zero emissions in the oil a gas sector.”

NDP Leader Jagmeet Singh painted the announcement as the latest in a string of “empty promises” from the Liberals on climate change, saying Canada has the highest increase in greenhouse gas emissions among all G7 countries, and that provinces like B.C. risk missing 2050 targets as well, he argued.

“Climate targets mean nothing when you don’t act on them. We can’t afford more of Justin Trudeau’s empty words on climate change,” he said in a statement.

The Trudeau Liberals submitted new targets to the United Nations in July, promising that Canada will curb emissions by 40 to 45 per cent from 2005 levels by 2030, building on the net-zero by 2050 plan announced earlier, officials say.

 

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IVECO BUS Achieves Success with New Hydrogen and Electric Bus Contracts in France

IVECO BUS hydrogen and electric buses in France accelerate clean mobility, zero-emission public transport, fleet electrification, and fuel cell adoption, with battery-electric ranges, fast charging, hydrogen refueling, lower TCO, and high passenger comfort in cities.

 

Key Points

Zero-emission buses using battery-electric and fuel cell tech, cutting TCO with fast refueling and urban-ready range.

✅ Zero tailpipe emissions, lower noise, improved air quality

✅ Fast charging and rapid hydrogen refueling infrastructure

✅ Lower TCO via reduced fuel and maintenance costs

 

IVECO BUS is making significant strides in the French public transportation sector, recently securing contracts for the delivery of hydrogen and battery electric buses. This development underscores the growing commitment of cities and regions in France to transition to cleaner, more sustainable public transportation options, even as electric bus adoption challenges persist. With these new contracts, IVECO BUS is poised to strengthen its position as a leader in the electric mobility market.

Expanding the Green Bus Fleet

The contracts involve the supply of various models of IVECO's hydrogen and electric buses, highlighting a strategic shift towards sustainable transport solutions. France has been proactive in its efforts to reduce carbon emissions and promote environmentally friendly transportation. As part of this initiative, many local authorities are investing in clean bus fleets, which has opened up substantial opportunities for manufacturers like IVECO.

These contracts will provide multiple French cities with advanced vehicles designed to minimize environmental impact while maintaining high performance and passenger comfort. The move towards hydrogen and battery electric buses reflects a broader trend in public transportation, where cities are increasingly adopting green technologies, with lessons from TTC's electric bus fleet informing best practices to meet both regulatory requirements and public demand for cleaner air.

The Role of Hydrogen and Battery Electric Technology

Hydrogen and battery electric buses represent two key technologies in the transition to sustainable transport. Battery electric buses are known for their zero tailpipe emissions, making them ideal for urban environments where air quality is a pressing concern, as demonstrated by the TTC battery-electric rollout in North America. IVECO's battery electric models come equipped with advanced features, including fast charging capabilities and longer ranges, making them suitable for various operational needs.

On the other hand, hydrogen buses offer the advantage of rapid refueling and extended range, addressing some of the limitations associated with battery electric vehicles, as seen with fuel cell buses in Mississauga deployments across transit networks. IVECO’s hydrogen buses utilize cutting-edge fuel cell technology, allowing them to operate efficiently in urban and intercity routes. This flexibility positions them as a viable solution for public transport authorities aiming to diversify their fleets.

Economic and Environmental Benefits

The adoption of hydrogen and battery electric buses is not only beneficial for the environment but also presents economic opportunities. By investing in these technologies, local governments can reduce operating costs associated with traditional diesel buses. Electric and hydrogen buses generally have lower fuel costs and require less maintenance, resulting in long-term savings.

Furthermore, the transition to cleaner buses can help stimulate local economies. As cities invest in electric mobility, new jobs will be created in manufacturing, maintenance, and infrastructure development, such as charging stations and hydrogen fueling networks, including the UK bus charging hub model, which supports large-scale operations. This shift can have a positive ripple effect, contributing to overall economic growth while fostering a cleaner environment.

IVECO BUS's Commitment to Sustainability

IVECO BUS's recent successes in France align with the company’s broader commitment to sustainability and innovation. As part of the CNH Industrial group, IVECO is dedicated to advancing green technologies and reducing the carbon footprint of public transportation. The company has been at the forefront of developing environmentally friendly vehicles, and these new contracts further reinforce its leadership position in the market.

Moreover, IVECO is investing in research and development to enhance the performance and efficiency of its electric and hydrogen buses. This commitment to innovation ensures that the company remains competitive in a rapidly evolving market while meeting the changing needs of public transport authorities.

Future Prospects

As more cities in France and across Europe commit to sustainable transportation, including initiatives like the Berlin zero-emission bus initiative, the demand for hydrogen and battery electric buses is expected to grow. IVECO BUS is well-positioned to capitalize on this trend, with a diverse range of products that cater to various operational requirements.

The successful implementation of these contracts will likely encourage other regions to follow suit, paving the way for a greener future in public transportation. As IVECO continues to innovate and expand its offerings, alongside developments like Volvo electric trucks in Europe, it sets a precedent for the industry, illustrating how commitment to sustainability can drive business success.

 

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Experts warn Albertans to lock in gas and electricity rates as prices set to soar

Alberta Energy Price Spike signals rising electricity and natural gas costs; lock in fixed rates as storage is low, demand surged in heat waves, and exports rose after Hurricane Ida, driving volatility and higher futures.

 

Key Points

An anticipated surge in Alberta electricity and natural gas prices, urging consumers to lock fixed rates to reduce risk.

✅ Fixed-rate gas near $3.79/GJ vs futures approaching $6/GJ

✅ Low storage after heat waves and U.S. export demand

✅ Switch providers or plans; UCA comparison tool helps

 

Energy economists are warning Albertans to review their gas and electricity bills and lock in a fixed rate if they haven't already done so because prices are expected to spike in the coming months.

"I have been urging anyone who will listen that every single Albertan should be on a fixed rate for this winter," University of Calgary energy economist Blake Shaffer said Monday. "And I say that for both natural gas and power."

Shaffer said people will rightly point out energy costs make up only roughly a third of their monthly bill. The rest of the costs for such things as delivery fees can't be avoided. 

But, he said, "there is an energy component and it is meaningful in terms of savings." 

For example, Shaffer said, when he checked last week, a consumer could sign a fixed rate gas contract for $3.79 a gigajoule and the current future price for gas is nearly $6 a gigajoule.

A typical household would use about 15 gigajoules a month, he said, so a consumer could save $30 to $45 a month for five months. For people on lower or fixed incomes, "that is a pretty significant saving."

Comparable savings can also be achieved with electricity, he said.

Shaffer said research has shown households that are least able to afford sharp increases in gas and electrical bills are less likely to pick up the phone and call their energy provider and either negotiate a lower fixed rate contract or jump to a new provider. 

But, he said, it is definitely worth the time and effort, particularly as Calgary electricity bills are rising across the city. Alberta's Utilities Consumer Advocate has a handy cost comparison tool on its website that allows consumers to conduct regional price comparisons that will assist in making an informed decision.

"Folks should know that for most providers you can change back to a floating rate any time you want," Shaffer said.

Summer heat wave affected natural gas supply
Why are energy prices set to spike in Alberta, which is a major producer of natural gas?

Sophie Simmonds, managing director of the brokerage firm Anova Energy, said Alberta is now generating the majority of its power using natural gas. 

The heat wave in June and July created record electrical demand. Normally, natural gas is stored in the summer for use in the winter. But this year, there was much greater gas consumption in the summer and so less was stored. 

Alberta also set a new electricity usage record during a recent deep freeze, underscoring system stress.

On top of that, Alberta has been exporting much more natural gas to the United States since August and September because Hurricane Ida knocked out natural gas assets in the Gulf of Mexico.

"So what this means is we are actually going into winter with very, very low storage numbers," Simmonds said.

Why natural gas prices have surged to some of their highest levels in years
Canadians to remain among world's top energy users even as government strives for net zero
Consultant Matt Ayres said he believes rising electricity prices also are being affected by Alberta's transition from carbon-intensive fuel sources to less carbon-intensive fuel sources.

"That transition is not always smooth," said Ayres, who is also an adjunct assistant professor at the University of Calgary's School of Public Policy. 

"It is my view that at least some of the price increases we are seeing on electricity comes down to difficulties imposed by that transition and also by a reduction in competition amongst generators, as well as power market overhaul debates shaping policy." 

In 2019, under the leadership of Premier Jason Kenney the UCP government removed the former NDP government's rate cap on electricity at the time.

The NDP has called for the government to reinstate the cap but the UCP government has dismissed that as unsustainable and unrealistic.

 

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Hydro One CEO's $4.5M salary won't be reduced to help cut electricity costs

Hydro One CEO Salary shapes debate on Ontario electricity costs, executive compensation, sunshine list transparency, and public disclosure rules, as officials argue pay is not driving planned hydro rate cuts for consumers.

 

Key Points

Hydro One CEO pay disclosed in public filings, central to debates on Ontario electricity rates and transparency.

✅ 2016 compensation: $4.5M (salary + bonuses)

✅ Excluded from Ontario's sunshine list after privatization

✅ Government says pay won't affect planned hydro rate cuts

 

The $4.5 million in pay received by Hydro One's CEO is not a factor in the government's plan to cut electricity costs for consumers, an Ontario cabinet minister said Thursday amid opposition concerns about the executive's compensation and wider sector pressures such as Manitoba Hydro's rising debt in other provinces.

Treasury Board President Liz Sandals made her comments on the eve of the release of the province's so-called sunshine list.

The annual disclosure of public-sector salaries over $100,000 will be released Friday, but Hydro One salaries such as that of company boss Mayo Schmidt won't be on it.Though the government still owns most of Hydro One — 30 per cent has been sold — the company is required to follow the financial disclosure rules of publicly traded companies, which means disclosing the salaries of its CEO, CFO and next three highest-paid executives, and financial results such as a Q2 profit decline in filings.

New filings show that Schmidt was paid $4.5 million in 2016 — an $850,000 salary plus bonuses — and those top five executives were paid a total of about $11.7 million. 

"Clearly that's a very large amount," said Sandals. Sandals wouldn't say whether or not she thought the pay was appropriate at a time when the government is trying to reduce system costs and cut people's hydro bills.

Mayo Schmidt, President & CEO of Hydro One Limited and Hydro One Inc. (Hydro One )

But she suggested the CEO's salary was not a factor in efforts to bring down hydro prices, even as Hydro One shares fell after a leadership shakeup in a later period. "The CEO salary is not part of the equation of will 'we be able to make the cut,"' she said. "Regardless of what those salaries are, we will make a 25-per-cent-off cut." The cut coming this summer is actually an average of 17 per cent -- the 25-per-cent figure factors in an earlier eight-per-cent rebate.

NDP Leader Andrea Horwath, who has proposed to make hydro public again in Ontario, said the executive salaries are relevant to cutting hydro costs.

"All of this is cost of operating the electricity system, it's part of the operating of Hydro One and so of course those increased salaries are going to impact the cost of our electricity," she said.

Schmidt was appointed Aug. 31, 2015, and in the last four months of that year earned $1.3 million, but the former CEO was paid $745,000 in 2014. About 3,800 workers were paid over $100,000 that year, none of whom will be on the sunshine list this year.

Progressive Conservative energy critic Todd Smith has a private member's bill that would put Hydro One salaries back on the list, amid investor concerns about Hydro One that cite too many unknowns.

"The Wynne Liberals don't want the people of Ontario to know that their rates have helped create a new millionaire's club at Hydro One," Smith said. "Hydro One is still under the majority ownership of the public, but Premier Kathleen Wynne has removed these salaries from the public's watchful eye."

The previous sunshine list showed 115,431 people were earning more than $100,000 — an increase of nearly 4,000 people despite the fact 3,774 Hydro One workers were not on the list for the first time.

Tom Mitchell, the former CEO at Ontario Power Generation who resigned last summer, topped the 2015 list at $1.59 million.

 

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