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Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
A nuclear power plant (NPP) is a thermal power station in which the heat source is a nuclear reactor. As is typical of thermal power stations, heat is used to generate steam that drives a steam turbine connected to a generator that produces electricity. As of September 2023, the International Atomic Energy Agency reported there were 410 nuclear power reactors in operation in 31 countries around the world, and 57 nuclear power reactors under construction.
Since the introduction of parliamentarism in Sweden, six national referendums have been held. Legal provisions for referendums were introduced in 1922, one year after the adoption of universal suffrage. The Constitution of Sweden provides for binding referendums, but all referendums held as of 2012 have been non-binding. The latest referendum, on adopting the euro, was held on 14 September 2003.
Areva S.A. is a French multinational group specializing in nuclear power headquartered in Courbevoie, France. Before its 2016 corporate restructuring, Areva was majority-owned by the French state through the French Alternative Energies and Atomic Energy Commission (54.37%), Banque publique d'investissement (3.32%), and Agence des participations de l'État (28.83%). Électricité de France, of which the French government has a majority ownership stake, owned 2.24%; Kuwait Investment Authority owned 4.82% as the second largest shareholder after the French state.
British Energy was the UK's largest electricity generation company by volume, before being taken over by Électricité de France (EDF) in 2009. British Energy operated eight former UK state-owned nuclear power stations and one coal-fired power station.
Basel II classified legal risk as a subset of operational risk in 2003. This conception is based on a business perspective, recognizing that there are threats entailed in the business operating environment. The idea is that businesses do not operate in a vacuum and in the exploitation of opportunities and their engagement with other businesses, their activities tend to become subjects of legal liabilities and obligations.
In law, liable means "responsible or answerable in law; legally obligated". Legal liability concerns both civil law and criminal law and can arise from various areas of law, such as contracts, torts, taxes, or fines given by government agencies. The claimant is the one who seeks to establish, or prove, liability.
Chapelcross nuclear power station is a former Magnox nuclear power station undergoing decommissioning. It is located in Annan in Dumfries and Galloway in southwest Scotland, and was in operation from 1959 to 2004. It was the sister plant to the Calder Hall nuclear power station plant in Cumbria, England; both were commissioned and originally operated by the United Kingdom Atomic Energy Authority. The primary purpose of both plants was to produce weapons-grade plutonium for the UK's nuclear weapons programme, but they also generated electrical power for the National Grid. Later in the reactors' lifecycle, as the UK slowed the development of the nuclear deterrent as the cold war came to a close, power production became the primary goal of reactor operation.
The Price-Anderson Nuclear Industries Indemnity Act is a United States federal law, first passed in 1957 and since renewed several times, which governs liability-related issues for all non-military nuclear facilities constructed in the United States before 2026. The main purpose of the Act is to partially compensate the nuclear industry against liability claims arising from nuclear incidents while still ensuring compensation coverage for the general public. The Act establishes a no fault insurance-type system in which the first approximately $15 billion is industry-funded as described in the Act. Any claims above the $15 billion would be covered by a Congressional mandate to retroactively increase nuclear utility liability or would be covered by the federal government. At the time of the Act's passing, it was considered necessary as an incentive for the private production of nuclear power — this was because electric utilities viewed the available liability coverage as inadequate.
Nuclear power in the United Kingdom generated 16.1% of the country's electricity in 2020. As of August 2022, the UK has 9 operational nuclear reactors at five locations, producing 5.9 GWe. It also has nuclear reprocessing plants at Sellafield and the Tails Management Facility (TMF) operated by Urenco in Capenhurst.
Nuclear power construction costs have varied significantly across the world and in time. Large and rapid increases in cost occurred during the 1970s, especially in the United States. Recent cost trends in countries such as Japan and Korea have been very different, including periods of stability and decline in costs.
Nuclear power is the fifth-largest source of electricity in India after coal, gas, hydroelectricity and wind power. As of November 2020, India has 22 nuclear reactors in operation in 8 nuclear power plants, with a total installed capacity of 7,380 MW. Nuclear power produced a total of 43 TWh in 2020–21, contributing 3.11% of total power generation in India. 10 more reactors are under construction with a combined generation capacity of 8,000 MW.
The Paris Convention on Third Party Liability in the Field of Nuclear Energy is a 1960 OECD Convention on liability and compensation for damage caused by accidents occurring while producing nuclear energy. The convention entered into force on 1 April 1968 and has been amended by protocols in 1964, 1982, and 2004. The convention, as amended by the 1964 and 1982 protocols have 16 parties. The 2004 protocol has not entered into force. Austria and Luxembourg signed the convention but have not ratified it. Switzerland deposited its instruments of ratification for the convention as amended by the 2004 protocol. The convention will entered into force for this country when the 2004 protocol entered into force in 2022.
The nuclear power debate is a long-running controversy about the risks and benefits of using nuclear reactors to generate electricity for civilian purposes. The debate about nuclear power peaked during the 1970s and 1980s, as more and more reactors were built and came online, and "reached an intensity unprecedented in the history of technology controversies" in some countries. In the 2010s, with growing public awareness about climate change and the critical role that carbon dioxide and methane emissions plays in causing the heating of the earth's atmosphere, there was a resurgence in the intensity of the nuclear power debate.
Jaitapur Nuclear Power Project is a proposed nuclear power plant in India. If built, it would be the largest nuclear power generating station in the world by net generation capacity, at 9,900 MW. The power project is proposed by Nuclear Power Corporation of India (NPCIL) and would be built at Madban village of Ratnagiri district in Maharashtra.
An international joint venture (IJV) occurs when two businesses based in two or more countries form a partnership. A company that wants to explore international trade without taking on the full responsibilities of cross-border business transactions has the option of forming a joint venture with a foreign partner. International investors entering into a joint venture minimize the risk that comes with an outright acquisition of a business. In international business development, performing due diligence on the foreign country and the partner limits the risks involved in such a business transaction.
The Civil Liability for Nuclear Damage Act, 2010 or Nuclear Liability Act is a highly debated and controversial Act which was passed by both houses of Indian parliament. The Act aims to provide a civil liability for nuclear damage and prompt compensation to the victims of a nuclear incident through a no-fault liability to the operator, appointment of Claims Commissioner, establishment of Nuclear Damage Claims Commission and for matters connected therewith or incidental thereto.
In Argentina, about 10% of the electricity comes from 3 operational nuclear reactors: Embalse, a CANDU reactor, and Atucha I and II, two PHWR German designs.
The Akkuyu Nuclear Power Plant is the only large nuclear power plant in Turkey and is under construction at Akkuyu, in Büyükeceli, Mersin Province. It is expected to generate around 10% of the country's electricity when completed.
The Nuclear Industry Association (NIA) is a subscription-based Trade association for the civil nuclear industry in the United Kingdom. It represents more than 260 companies across the nuclear supply chain. The diversity of NIA membership enables effective and constructive industry-wide interaction. It publishes the quarterly magazine, Industry Link, and it represents over 65,000 workers.
References
- ↑ "Nuclear Liability: A Key Component of the Public Policy Decision to Deploy Nuclear Energy in Southeast Asia | American Academy of Arts and Sciences". www.amacad.org. Retrieved 2023-11-16.
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