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The UK Government recently put new nuclear power back on the agenda, adding impetus to the global nuclear renaissance.  How will the next generation of nuclear power plants be financed?  What role will governments play in raising capital costs?  How will the nuclear legacy and waste disposal be funded?

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Discuss these and other pressing issues with fellow industry executives at Financing Nuclear Power.  SMi's conference will examine the realities of financing nuclear power throughout the life of a power plant, from raising capital for new build to managing the cost of decommissioning and waste disposal. 

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With concerns over global warming and carbon emissions topping political agendas worldwide and nuclear power again becoming a realistic option, can you afford to miss this timely event?  Providing a forum for high-level discussion and debate, this conference will address issues such as: 

  • The future for nuclear investment in the UK: hear from the Department of Business, Enterprise and Regulatory Reform

  • Financial and regulatory developments needed to create a favourable economic climate for new build

  • The role of carbon pricing in sustaining the economics of nuclear power

  • The economics of nuclear power versus other generation types

  • The role of government in offsetting risks and costs

  • The nuclear funding gap: why and how project finance will be relevant

  • Investment risks associated with the planning process

  • Key global challenges in recruitment and retention of a skilled workforce

  • Managing the costs of decommissioning

  • Financing principles and mechanisms for long-term waste management

  • The experience of donor funded programs supporting decommissioning

Confirmed speakers include:

  • Rüdiger König, Head of International Nuclear Development, RWE Power AG (Chairman Day One)
  • Diego Molina, Chief Nuclear Officer, IBERDROLA
  • Pieter Stor, Head of Power & Utilities in Europe, ABN AMRO
  • Thomas Scheibel, Director, Dresdner Kleinwort
  • Mark Lewis, Director, Commodities Research, Global Carbon Markets, Deutsche Bank
  • Norman Harrison, CEO, UKAEA
  • Jacques Cantarella, Financial Risk Manager, ONDRAF/NIRAS
  • Vince Novak, Director, Nuclear Safety, EBRD
  • Jean Llewellyn, Chief Executive, National Skills Academy for Nuclear
  • Keith Parker, CEO, NIA
  • Malcolm Keay, Senior Research Fellow, Oxford Institute for Energy Studies
  • Andrew Newbery, Partner, Project Finance, Herbert Smith
  • Nigel Howorth, Partner, Clifford Chance           

View the programme for a full list of participating speakers. 

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Read about SMi’s 2008 ‘Financing Nuclear Power’ conference in Fuel Cycle Week click here

Conference programme

8:30 Registration & Coffee

9:00 Chairman's Opening Remarks

Rüdiger König

Rüdiger König, Head of International Nuclear Development, RWE Power AG

9:10 WHY INVEST IN NUCLEAR NEW BUILD?

Pieter Stor

Pieter Stor, Head, Power & Utilities Europe , ABN AMRO

  • Global outlook for nuclear new build
  • Confidence in nuclear power
  • Cost base
  • Risks
  • Potential returns
  • Carbon markets
  • Financial and regulatory developments needed to create a favourable economic climate for new build
  • 9:50 THE FUTURE FOR NUCLEAR INVESTMENT IN THE UK:

    Adam Dawson

    Adam Dawson, Director, Nuclear Unit, Department for Business, BERR

  • Waste and decommissioning costs
  • Siting
  • Generic Design Assessment
  • 10:30 Morning Coffee

    11:00 GOVERNMENT STANCE ON NUCLEAR NEW BUILD

    Keith Parker

    Keith Parker, CEO, Nuclear Industry Association

  • Relationship between Government and industry
  • How far does/should government responsibility go?
  • Attitudes to planning and site selection
  • How can revenue streams be guaranteed?
  • The role of government in the long term disposal of government waste
  • 11:40 NUCLEAR POWER, RISK AND LIBERALISED MARKETS – THE CASE OF THE UK

    Malcolm Keay

    Malcolm Keay, Senior Research Fellow, Oxford Institute For energy Studies

  • Nuclear in the UK – why here, why now?
  • Decision-making in liberalised markets
  • Risks and challenges
  • Is nuclear viable in present conditions?
  • 12:20 Networking Lunch

    13:50 WHY ARE NEW NUCLEAR PROJECTS ARISING IN FINLAND?

    Mika Alava

    Mika Alava, Chief Financial Officer, Fennovoima Ltd

  • Nordic conditions and energy self-sufficiency as a strategic issue
  • Electricity-users involved in the energy generation across the years
  • Steady track-record and public acceptance
  • Nuclear legislation and spent fuel issue
  • 14:30 RECENT CAPITAL MARKET DEVELOPMENTS

    Thomas Scheibel

    Thomas Scheibel, Director, Dresdner Kleinwort

  • Nuclear - the better oil
  • Discount dichotomies!
  • Levelizing non-cash costs?
  • Benefits and risks: aligned?
  • Outlook
  • 15:10 Afternoon Tea

    15:40 THE NUCLEAR FUNDING GAP: WHY AND HOW PROJECT FINANCE WILL BE RELEVANT

    Andrew Newbery

    Andrew Newbery, Partner, Project Finance, Herbert Smith

  • A review of existing structures
  • The financing imperative
  • Bankability issues: 
    a. Permitting and construction
    b. Nuclear liability and insurance
    c. Residual political risk
    d. Decommissioning and waste
    e. Economic risk and CO2 pricing
  • The future.
  • 17:00 Chairman’s Closing Remarks and Close of Day One

    8:30 Registration & Coffee

    9:00 Chairman's Opening Remarks

    Jean Llewellyn

    Jean Llewellyn, Chief Executive, National Skills Academy for Nuclear

    9:10 NEW NUCLEAR PROJECT MANAGEMENT: FROM LICENSING TO POWER GENERATION

    Manuel Prieto

    Manuel Prieto, Nuclear Development, IBERDROLA

  • Becoming an intelligent customer
  • Models for Project Management organization
  • Commisioning challenges
  • Operation & Maintenance cost optimization
  • 9:50 ADDRESSING THE SKILLS CHALLENGES OF NUCLEAR NEW BUILD

    Jean Llewellyn

    Jean Llewellyn, Chief Executive, National Skills Academy for Nuclear

  • Costs and implications of not developing and retaining a skilled work force
  • Key global challenges in recruitment and retention of a skilled workforce
  • Scale of the challenges being faced
  • Employer led solutions and way forwards
  • 10:30 Morning Coffee

    11:00 THE ROLE OF NUCLEAR ENERGY IN A CARBON CONSTRAINED WORLD

    Mark Lewis

    Mark Lewis, Managing Director, Commodities Research, Global Carbon Markets , Deutsche Bank

  • EU energy policies for a carbon-constrained world
  • The outlook for carbon prices in the EU over 2008-20
  • The role of carbon pricing in sustaining the economics of nuclear power
  • The economics of nuclear power versus other generation types
  • The case for existing nuclear power plants
  • 11:40 INVESTMENT RISKS ASSOCIATED WITH THE PLANNING PROCESS

    Michael Redman

    Michael Redman, Partner, Clifford Chance

  • Common planning risks around the world
  • Site selection issues
  • Impacts of planning process on new build and investment
  • Managing regulatory interface
  • Minimising risks and challenges in the planning process
  • 12:20 Networking Lunch

    13:50 MANAGING THE COSTS OF DECOMMISSIONING:

    Norman Harrison

    Norman Harrison, CEO, UKAEA

  • Hands on decommissioning
  • Minimising waste
  • Relicensing and Release of the Site to Alternative Use
  • Funding of Decommissioning
  • 14:30 DECOMMISSIONING ASSISTANCE

    Vince Novak

    Vince Novak, Director, Nucelar Safety, European Bank for Reconstruction and Development

  • Governance of EBRD managed  Decommissioning Support Funds
  • Comparison of initial requirements in the three cases
  • Analysis of decommissioning strategies, plans and schedules
  • Project pipelines
  • Decommissioning organization; program and project management
  • 15:10 Afternoon Tea

    15:40 LONG-TERM MANAGEMENT OF RADIOACTIVE WASTE AT ONDRAF/NIRAS (O/N):

    Jacques Cantarella

    Jacques Cantarella, Financial Risk Manager, ONDRAF/NIRAS

  • Legal missions and competences of O/N
  • Specific bilateral contractual agreements between main waste producers and O/N
    - Waste categories – committed volumes
    - Waste acceptance and transfer
    - Tariffs for interim storage and disposal, fixed and proportional costs
    - Reservations of capacity, coverage by contractual guarantees
    - Discount rate
    - Long-term fund
  • Contract validity period and renewal process
  • Some specific issues
    - Uncertainties
    - Contingencies – residual risk
    - Terminating contractual relationships
  • 16:20 THE NUCLEAR CYCLE

    Peter Hall

    Peter Hall, Partner, Nuclear Services, Norton Rose

    • Building for decommissioning - provisions dealing with decommissioning in new build project agreements
    • Operational waste handling and storage -  opportunities and risks
    • Decommissioning costs and risk allocation

    17:00 Chairman’s Closing Remarks and Close of Day One

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    WHAT IS CPD?

    CPD stands for Continuing Professional Development’. It is essentially a philosophy, which maintains that in order to be effective, learning should be organised and structured. The most common definition is:

    ‘A commitment to structured skills and knowledge enhancement for Personal or Professional competence’

    CPD is a common requirement of individual membership with professional bodies and Institutes. Increasingly, employers also expect their staff to undertake regular CPD activities.

    Undertaken over a period of time, CPD ensures that educational qualifications do not become obsolete, and allows for best practice and professional standards to be upheld.

    CPD can be undertaken through a variety of learning activities including instructor led training courses, seminars and conferences, e:learning modules or structured reading.

    CPD AND PROFESSIONAL INSTITUTES

    There are approximately 470 institutes in the UK across all industry sectors, with a collective membership of circa 4 million professionals, and they all expect their members to undertake CPD.

    For some institutes undertaking CPD is mandatory e.g. accountancy and law, and linked to a licence to practice, for others it’s obligatory. By ensuring that their members undertake CPD, the professional bodies seek to ensure that professional standards, legislative awareness and ethical practices are maintained.

    CPD Schemes often run over the period of a year and the institutes generally provide online tools for their members to record and reflect on their CPD activities.

    TYPICAL CPD SCHEMES AND RECORDING OF CPD (CPD points and hours)

    Professional bodies and Institutes CPD schemes are either structured as ‘Input’ or ‘Output’ based.

    ‘Input’ based schemes list a precise number of CPD hours that individuals must achieve within a given time period. These schemes can also use different ‘currencies’ such as points, merits, units or credits, where an individual must accumulate the number required. These currencies are usually based on time i.e. 1 CPD point = 1 hour of learning.

    ‘Output’ based schemes are learner centred. They require individuals to set learning goals that align to professional competencies, or personal development objectives. These schemes also list different ways to achieve the learning goals e.g. training courses, seminars or e:learning, which enables an individual to complete their CPD through their preferred mode of learning.

    The majority of Input and Output based schemes actively encourage individuals to seek appropriate CPD activities independently.

    As a formal provider of CPD certified activities, SMI Group can provide an indication of the learning benefit gained and the typical completion. However, it is ultimately the responsibility of the delegate to evaluate their learning, and record it correctly in line with their professional body’s or employers requirements.

    GLOBAL CPD

    Increasingly, international and emerging markets are ‘professionalising’ their workforces and looking to the UK to benchmark educational standards. The undertaking of CPD is now increasingly expected of any individual employed within today’s global marketplace.

    CPD Certificates

    We can provide a certificate for all our accredited events. To request a CPD certificate for a conference , workshop, master classes you have attended please email events@smi-online.co.uk

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