According to Bloomberg, the Nation Development & Reform Commission in China has said that it will reduce its 2020 target for nuclear power from 80GW, but didn’t say by how much. The beneficiary? Solar power companies. The commission plans to increase its solar power capacity estimate for 2020 from 20GW, but also didn’t specify by exactly how much.
Obviously it’s a tremendous tragedy what’s happening in Japan with the nuclear power crisis on top … Read the rest
It’s a common question.. should Nuclear/Uranium be considered green? In some regards yes. In some regards no. It could certainly be argued that it’s a green source of energy in that nuclear energy doesn’t emit the kind of pollutants that a coal fired plant would, but the resulting nuclear waste is anything but green and a growing problem. At any rate, I’ve decided to discontinue the Nuclear/Uranium section and coverage of the stocks in this … Read the rest
Uranerz just announced a new uranium sales contract with an unnamed US utility company. Although the buyer is not specified, the Uranerz press release indicates that they are one of the largest stateside nuclear power plant operators. The contract is a long-term, 5 year contract and the pricing structure is based on market referenced prices, with combined spot and long term indicators. The contract also protects both parties against market fluctuation with floor and ceiling … Read the rest
Uranerz just announced that it has signed a uranium supply contract with Exelon Generation Company, LLC. The contract covers a 5-year period includes defined pricing each year. In the announcing the deal, no other details about the agreement were forthcoming. If you have more information about the terms, feel free to leave a comment!
However, Uranerz investors will probably be happy to know that the company continues to look for other uranium sales agreements to … Read the rest
The nine month takeover drama between NRG Energy and Exelon Corporation is over. NRG shareholders voted to reject the bid yesterday by refusing to elect Exelon’s nominees for NRG’s Board of Directors. They also refused to expand the size of NRG’s Board to include additional Exelon candidates. According to NRG, 75% of its shareholders voted against Exelon.
In an article in the New York Times, Exelon’s CEO John W. Rowe made the following comment:
“The … Read the rest
The takeover drama between Exelon Corp and NRG Energy may finally come to a close today, as shareholders from NRG gather to vote on whether to not to elect Exelon’s chosen directors to NRG’s Board.
If the directors are not elected, Exelon will walk, and eventuality that is looking increasingly likely according to Reuters.
Right now, Exelon is offering 0.545 Exelon shares per NRG share. NRG has said it believes the offer is too low, … Read the rest
NRG Energy just announced that its Board of Directors has rejected Exelon’s revised offer for the company. The vote was unanimous and was based on the belief that Exelon is undervaluing NRG, even with its revised offer, with was equivalent to $27 per share. NRG’s Board sent a letter to Exelon calling the revised offer a “step in the right direction” and explaining the specific areas in which the company believes it is being undervalued, … Read the rest
Exelon just announced that is will be slashing 500 jobs as part of a company-wide cost-cutting campaign. As a result, the utility expects to post a charge of $40 million in the second quarter of this year, but will save $350 million in 2010 in operating and maintenance costs. Most of the positions being eliminated are in corporate support, but the program will also affect executive-level employees by freezing salaries and changing compensation plans.
In … Read the rest
Exelon just announced that support for its $6.2 billion bid to takeover NRG Energy appears to have waned among NRG shareholders. Exelon still wants to take over the company, but in a letter to NRG shareholders, it advised that only about 12% of NRG’s outstanding shares had been tendered, a big drop from February’s statistic of 51%. The two companies are counting down to a crucial NRG stockholder’s meeting on July 21, when shareholders will … Read the rest
According to Reuters, Exelon Energy Co just announced that it has signed a uranium supply deal with Tenex, a Russian nuclear fuel exporter owned by the Russian government. Under the terms of the agreement, Tenex will supply Exelon with uranium for nuclear energy for a period of six years, from 2014 to 2020.
The amounts of uranium involved were not disclosed. Nor were the financials of the deal.
:::: >>> … Read the rest