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French Utility to Acquire Part of U.S. Nuclear Giant

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ensho Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-21-08 12:18 PM
Original message
French Utility to Acquire Part of U.S. Nuclear Giant


http://www.nytimes.com/2008/12/18/business/worldbusiness/18nuke.html?_r=1&ei=5070&emc=eta1


The French national utility will acquire a 49.9 percent stake in a major American nuclear operator, in a new push into the American power industry, which is the source of much of the French nuclear technology.

The EDF Group, which includes Éléctricité de France, will buy the stake in the nuclear operations of Constellation Energy, the parent company of Baltimore Gas and Electric, for $4.5 billion. For Constellation, the deal replaces a proposed merger with MidAmerican Energy Holdings, run by the investor Warren E. Buffett, which would have taken Constellation Energy private.

EDF’s offer for half the nuclear assets is almost as much as Mr. Buffett had offered for the whole company.

Constellation is already in a joint venture with EDF to build several nuclear reactors in the United States. Michael J. Wallace, the chairman of the joint venture, which is called UniStar, said that Constellation saw advantages to remaining a publicly traded company. He added that Constellation was aligning itself with the largest nuclear operator in the world, which has 58 reactors, all based on American designs.
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they must thing it is a done deal - to build more nuke plants here. we would be insane to build more nuke plants.

doesn't congress have a say so in this?
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Statistical Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-21-08 12:33 PM
Response to Original message
1. Why would it be insane?
We stopped nuke plants in the 80s, 90s, and today so what did the utilities do?

Build 87 MORE coal plants.

France embraced nuclear power and now generated 70% of their power with 0 C02 emissions.

A emotional based nuclear-phobia caused this country to embrace the dirtiest, most pollutiing form of power on the planet.

There is literally nothing worse than coal. Yeah USA!
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OregonBlue Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-21-08 02:10 PM
Response to Reply #1
2. Perhaps you have never heard of Three Mile Island. Perhaps you are unaware of
the Washington State nuclear reactor where the contractor falsified the welds rendering it so dangerous the State had to shut it before it could be completed. Or perhaps you don't care. All of your posts indicate that you are a Pro-big business, Anti-union, Pro-gun "Independent". What makes sense is not turning to dangerous nuclear technology but to solar, wind, tidal, etc.

In addition, I do not want a foreign entity owning our utilities. Can't be good for our country to sell off our infrastructure to foreign companies. But then I suspect you don't have a problem with that either.
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