natgillin/translations-raw huggingface dataset:
On this basis, EDF concludes that the agreement cannot qualify as State aid.
Družba EDF meni, da je zaradi javnega poziva, s katerim je Združeno kraljestvo decembra 2011 pozvalo razvijalce novih nizkoogljičnih zmogljivosti, naj se udeležijo razprav z ministrstvom za energijo in podnebne spremembe o možnih naložbenih pogodbah, v okviru katerega se je kot edini razvijalec nove jedrske elektrarne odzvalo podjetje NNBG, postopek pogajanj, ki so se ga strani udeležile, primeren.
EDF maintained that the UK would need around 60 GW of new generation capacity to come onto the system between 2021 and 2030 in order to address the energy gap deriving from the closure of existing fossil fuel and nuclear power stations.
Združeno kraljestvo je izvedlo pomemben skrbni pregled projekta s postopkom odkrivanja in preverjanja stroškov, ki je trajal 18 mesecev.
According to EDF, this gap would not be addressable by increases in interconnection and energy efficiency alone, but would require the construction of a significant amount of new generating capacity.
Prav tako pogodba na razliko podjetja NNBG ne bi zavarovala pred tržnimi tveganji.
EDF noted that modelling by DECC would show that generation adequacy issues will arise in the early 2020s, and that HPC, which is expected to start generating in 2023, would contribute to addressing that energy gap.
Podjetje NNBG bi še naprej prodajalo električno energijo na veleprodajnem trgu.
EDF observed that the new capacity will mainly have to be low-carbon to deliver decarbonisation targets which are consistent with the Commission's Energy Roadmap 2050 [27].
Razlika v plačilih bi bila pošten znesek, izračunan na podlagi stroškov projekta.
New nuclear would be a critical component in the cost effective decarbonisation of the electricity sector.
Podjetje NNBG bi imelo spodbudo za prodajo proizvedene električne energije na trgu, da doseže referenčno ceno, in bi prevzelo tveganje, da tega ne bo moglo uresničiti ali ne bo moglo proizvesti načrtovanih količin električne energije.
Finally, HPC would also assist in the goal of achieving further diversification of energy supplies by limiting European reliance on gas imports from outside the EU.
Poleg tega bi podjetje NNBG ohranilo precejšnja tveganja, kot so tveganja gradnje, tveganja v zvezi z obratovanjem, finančna tveganja ter tveganja v zvezi z odpadki in razgradnjo.
This would be consistent with the right of the UK to exercise its discretion under Article 194 TFEU to include nuclear in the future energy mix, together with other forms of low-carbon generation.
Presežki stroškov se ne bi prenesli na potrošnike, nosilo bi jih podjetje NNBG.
This strategic decision would also be consistent with the Euratom Treaty.
Pogodba na razliko bi bila primeren instrument, saj bi pomenila dolgoročno pogodbo s stabilnostjo cen, hkrati pa bi bila bolj stroškovno učinkovita od instrumentov s fiksno premijo.
COMMENTS RECEIVED ON THE NEED FOR STATE INTERVENTION AND MARKET FAILURES
Poleg tega bi bila kombinacija pogodbe na razliko in kreditnega jamstva nujna, saj bi pogodba na razliko obravnavala tveganje projekta HPC, jamstvo, dano pod komercialnimi pogoji, pa bi podjetju NNBG olajšalo dostop do posojil.
EDF submitted that the market alone could not deliver these common objectives, as the investments required represent twice as much investment which was delivered in the two decades after privatisation in 1990.
Družba EDF je navedla, da naložbe v nove jedrske elektrarne na splošno in zlasti naložba v elektrarno HPC brez pogodbe na razliko in kreditnega jamstva ne bi bile izvedene, ter pozdravila predhodno ugotovitev Komisije, da je spodbudni učinek ukrepov verjeten.
In particular, a combination of residual market failures would arise in relation to electricity generation and nuclear energy in particular.
Družba EDF je navedla, da razlike v plačilih ne bi presegle ravni, potrebne za zadostno dobičkonosnost projekta HPC.
A report by Compass Lexecon was submitted to further elaborate on these market failures [28]:
Ciljna notranja stopnja donosa v višini [med 9,75 in 10,25] % bi bila skladna z naložbenimi merili skupine EDF in primerna glede na tveganja, ki jih projekt vključuje, in pa tudi skladna z donosi, ki jih imajo drugi upravičenci pogodb na razliko.
Carbon emission market failure, as carbon emissions would not be adequately priced under the ETS and the Carbon Price Floor would not be sufficient given political risk that rates will be lowered in the future.
Družba EDF meni, da je 35-letno trajanje pogodbe na razliko najkrajše obdobje, potrebno za omogočanje financiranja projekta.
Security and diversity of supply market failures, due to the fact that the social benefits from security and diversity would not be adequately valued by investors.
Vsako skrajšanje bi privedlo do sprememb v dolžniškem financiranju, v profilu ureditev financiranja razgradnje ter v ravni prihodkov in političnem tveganju.
Investments in large scale generation assets would not be made based on anticipated returns in the highest price periods, given their unpredictability, leading to ‘missing money’ problem and a lack of diversity in the energy mix.
Družba EDF je še navedla, da bi pogodba na razliko vsebovala pogodbene mehanizme, ki bi preprečevali prekomerno odškodnino za podjetje NNBG in njegove vlagatelje, zlasti klavzule o delitvi dobička.
Incomplete risk transfer markets, given that there would be no certainty that wholesale electricity prices will be correlated with the fixed costs of low-carbon generators.
Družba EDF je menila, da pogodba na razliko ne bi izrinila zasebnih naložb v druge oblike proizvodnih zmogljivosti, vključno z obnovljivimi viri energije, in sicer zaradi relativno majhnega deleža naročenih zmogljivosti.
The resulting price volatility risk would not be a failure in and of its own, but it becomes one if risks could be transferred, shared or pooled in an efficient way, which current market conditions would not allow.
Po mnenju družbe EDF bi vsako izpodrivanje naložb v nove proizvodne zmogljivosti na fosilna goriva zgolj doseglo predvidene cilje ukrepa, tj. cilje skupnega interesa.
Political and ‘hold-up’ risks, due to the considerable political and regulatory risks that may significantly affect the returns that investors can make from the project, exposing investors in new nuclear to a potential ‘hold-up’ problem, i.e. the risk that having made the investment investors would be prevented by government action from realising a return from it.
Če elektrarna HPC ne bi bila zgrajena, bi Združeno kraljestvo morda povečalo raven podpore za druge nizkoogljične tehnologije, a družba EDF meni, da bi bil tak scenarij manj učinkovit, saj so take tehnologije dražji in bolj negotov način za izpolnjevanje ciljev dekarbonizacije, za katere si Združeno kraljestvo prizadeva.
Financing risks, due to constraints arising in current financial market conditions, where lenders would be risk-averse in relation to new nuclear.
Omejen bi bil tudi učinek na zmogljivosti povezav, saj elektrarna HPC ne bi vplivala na spodbude za naložbe v povezovalne projekte, ne bi zmanjšala naložb v prilagajanje odjema, ki bi ga v prvi vrsti spodbujala struktura tarif, prav tako pa ne bi zmanjšala naložb v energetsko učinkovitost, ki bi bile odvisne predvsem od posebnih nepovratnih sredstev in finančne podpore.
EDF concludes from the arguments above that State aid is necessary to deliver the objectives of common interest.
Družba EDF je predpostavljala tudi, da pogodba na razliko niti njej niti podjetju NNBG ne bi dajala prednosti, ki bi bila nedosegljiva drugim proizvajalcem električne energije.
EDF considered that the public invitation issued by the UK in December 2011 to developers of new low-carbon capacity to enter into discussions with DECC about potential investment contracts, where NNBG was the only developer of a new nuclear power station responding, would make the negotiation process followed by the parties adequate.
Tudi konkurenti se lahko potegujejo za pogodbo na razliko, ta pogodba pa ne bi pomenila, da si podjetje NNBG ne bo prizadevalo za odločitve v zvezi z učinkovitim razpošiljanjem in zniževanjem stroškov.
The UK would have completed significant due diligence on the project through a cost discovery and verification process lasting 18 months.
Pogodba na razliko podjetju NNBG ne bi dala zmožnosti in spodbude za vplivanje na referenčno ceno ali za oviranje konkurentov družbe EDF, saj bi bil referenčni trg zelo likviden, sezonska proizvodnja podjetja NNBG pa bi pomenila le manjši delež količine, s katero se trguje.
Also, the CfD would not insulate NNBG from market risks.
Poleg tega pa bi pogodba na razliko zagotovila zaščitne ukrepe proti izkrivljanju referenčne cene.
NNBG would continue to sell electricity into the wholesale market.
Oviranje dostopa konkurentov do zmogljivosti HPC za pasovno električno energijo ne bi bilo sprejemljivo za delničarje podjetja NNBG, razen za družbo EDF, prav tako pa ne bi bilo sprejemljivo za Združeno kraljestvo, ki je po kreditnem jamstvu porok, ali za posojilodajalce za projekt.
The difference payment would represent a fair amount calculated on the basis of the costs of the project.
ODGOVOR ZDRUŽENEGA KRALJESTVA NA PRIPOMBE ZAINTERESIRANIH STRANI
NNBG would be incentivised to sell its output into the market in order to achieve the RP and would take the risk that it is unable to do so or is unable to generate as much electricity as planned.
Združeno kraljestvo je odgovor na pripombe zainteresiranih strani poslalo 13. junija in 4. julija 2014.
In addition, NNBG would retain substantial risks including construction risks, operating risks, financial risks and waste and decommissioning risks.
Na splošno je Združeno kraljestvo ugotovilo, da je večina pripomb pozitivnih in da je bila velika večina izpostavljenih vprašanj že obravnavana v njegovih prejšnjih odgovorih.
Cost overruns would not be transferred to consumers and would be borne by NNBG.
Glavni argumenti Združenega kraljestva v odziv na ključne pomisleke zainteresiranih strani so podrobneje obravnavani v nadaljevanju.
Finally, the CfD would be an appropriate instrument as it wold provide a long-term contract offering price stability, while at the same time being more cost effective than feed-in premium instruments with a fixed premium.
Obravnavani so le odgovori na najpomembnejše pripombe v zvezi z oceno državne pomoči.
Also, the combination of the CfD and the Credit Guarantee would be necessary, since the CfD would address HPC's project risk, while the guarantee would facilitate NNBG's access to credit, while being provided on commercial terms.
OBSTOJ POMOČI IN SSGP
EDF submitted that investment in new nuclear generation in general, and HPC in particular, would not be realised without the CfD and the Credit Guarantee, and welcomed the Commission's preliminary finding that the incentive effect of the notified measure is plausible.
Združeno kraljestvo je poudarilo svoje stališče, da imajo države članice proste roke pri opredelitvi dejavnosti kot SSGP.
EDF submitted that difference payments would not exceed the level necessary to render the HPC project sufficiently profitable.
Člen 8 direktive o električni energiji naj ne bi veljal za priglašeni ukrep.
The target internal rate of return (‘IRR’) of [9,75 to 10,25] per cent would be in line with the investment criteria of the EDF group and appropriate given the risks involved in the project, as well as in line with the returns accorded to other CfD beneficiaries.
Združeno kraljestvo tudi meni, da je, čeprav ni bilo formalnega razpisnega postopka, obširno pozivalo razvijalce, naj se udeležijo razprave o naložbenih pogodbah ali zgodnjih pogodbah na razliko za nizkoogljično proizvodnjo.
EDF considered that the 35-year duration of the CfD would be the minimum required to enable the project to be financed.
V zvezi s kreditnim jamstvom je Združeno kraljestvo vztrajalo, da ne vsebuje pomoči, saj bo dano pod tržnimi pogoji in bo na voljo tudi za druge projekte.
Any reduction would lead to changes in the debt financing structure, the profile of the funding arrangements for decommissioning and the level of revenue and political risk.
Združeno kraljestvo navaja, da je jamstvena shema oddelka IUK na voljo za velike naložbene projekte v Združenem kraljestvu, tudi za naložbe v projekte na področju obnovljive energije in jedrske projekte.
Finally, EDF submitted that the CfD would contain contractual mechanisms designed to prevent NNBG and its investors from being overcompensated, in particular as gain-share clauses.
V zvezi z odškodnino organi Združenega kraljestva navajajo, da je bila izvršilna cena določena na podlagi: (i) natančnega postopka odkrivanja in preverjanja stroškov za oceno stroškov projekta HPC, ki je bil izveden s podporo zunanjih finančnih in tehničnih svetovalcev; (ii) temeljite ocene stopnje donosa, razumne za vlagatelje v zvezi s projektom HPC, ki je bila izvedena s primerjavo z drugimi podobnimi projekti; in (iii) zahtevnih pogajanj, podprtih z analizo zgornje ravni izvršilne cene, za katero je vlada Združenega kraljestva menila, da je primerna za elektrarno HPC, in so jo primerjali tudi s stroški drugih oblik električne energije.
EDF considered that the CfD would not crowd out private investment in other forms of generation capacity, including renewables, due to the relatively small proportion of the capacity commissioned.
Vlada Združenega kraljestva je izvedla tudi oceno stroškovne učinkovitosti, na podlagi katere je ugotovila naslednje: (i) donosnost naložbe za projekt HPC je pravična in za podjetje NNBG ne bi pomenila prekomerne odškodnine; (ii) izvršilna cena je bila stroškovno konkurenčna z nizkoogljično proizvodnjo in plinskimi elektrarnami brez zajemanja in shranjevanja CO2; in (iii) na splošno bi elektrarna HPC prinesla neto socialne koristi in izpolnila omejitve glede dostopnosti vlade Združenega kraljestva.
Any displacement of new fossil fuel generation investment would in EDF's view only achieve the measure's intended objectives of common interest.
V zvezi z dogovorom z ministrstvom organi Združenega kraljestva navajajo, da je razlog za ta dodaten dogovor ta, da je obratovanje jedrskih elektrarn še posebej odvisno od sprememb politične podpore za jedrsko energijo.
In the absence of HPC, the UK may increase the level of support for other low-carbon technologies, but EDF considered that such a scenario would be less efficient, as such technologies are a more costly and more uncertain way to meet the UK's decarbonisation targets.
V takih okoliščinah se je ministrstvo zavezalo, da bo plačalo odškodnino (če je ne plača nasprotna stranka pogodbe na razliko), da bi bili vlagatelji NNBG v enakem položaju, kot če do politične zaustavitve ne bi prišlo.
The impact on interconnection capacity would also be limited, since HPC would not affect investment incentives for interconnector projects, would not reduce investment in demand-side response, which would be primarily driven by the structure of tariffs, nor would it reduce investment in energy efficiency, which would rely largely on specific grants and financing support.
Združeno kraljestvo navaja, da dogovor z ministrstvom vladi Združenega kraljestva ne preprečuje zaprtja jedrskih elektrarn.
EDF also posited that the CfD would not provide an advantage to EDF or NNBG which is unavailable to other power generators.
Pogodba na razliko in dogovor z ministrstvom naj bi vladi Združenega kraljestva dala trajno možnost, da to stori, saj bi določala odškodnino za elektrarno HPC, če bi jo zaprli iz političnih razlogov.
Competitors could apply for a CfD, and the CfD would not remove NNBG's incentive to take efficient dispatch and cost-reducing decisions.
Organi Združenega kraljestva trdijo, da sedanja vlada Združenega kraljestva prihodnjih vlad ne more prisiliti, da pustijo jedrske elektrarne odprte.
Finally, the CfD would not provide NNBG with the ability and the incentive to manipulate the RP or foreclose EDF's competitors, given that the reference market would be very liquid and NNBG's seasonal output would account for only a small proportion of the volumes traded.
CILJI SKUPNEGA INTERESA
Also, CfDs would provide safeguards against any distortion of the RP.
Združeno kraljestvo je v zvezi s pripombo, da Pogodba Euratom ne more zagotoviti skupnega interesa, razen če je izrecno podprt s politiko Komisije, navedlo, da je Pogodba Euratom še vedno del ustavne ureditve EU in še ni bila razveljavljena ter da ni razloga za trditev, da bi politike Komisije v zvezi z jedrsko energijo lahko vplivale na pomen ali razlago Pogodbe, ki je Komisija enostransko ne more spremeniti.
Foreclosing competitors' access to HPC's baseload capacity would not be acceptable to NNBG's shareholders other than EDF, nor would it be acceptable to the UK as guarantor under the Credit Guarantee or to the lenders to the project.
Združeno kraljestvo se ne strinja s pripombami, ki izražajo pomisleke v zvezi s prispevkom jedrske energije k dekarbonizaciji, in pripombami o negativnem učinku jedrske energije na okolje.
RESPONSE OF THE UNITED KINGDOM TO THE COMMENTS SUBMITTED BY INTERESTED PARTIES
Jedrska energija bi bila priznana oblika nizkoogljične proizvodnje električne energije, ki prispeva k dekarbonizaciji.
The UK sent its response to the comments by interested parties on 13 June and 4 July 2014.
Zlasti bi prispevek jedrske elektrarne HPC k ciljem dekarbonizacije Komisija sprejela v okviru postopka posvetovanj, ki ga predvidevajo členi 41 do 43 Pogodbe Euratom.
Overall, the UK found that the majority of comments were positive, and that the vast majority of the issues raised had already been addressed in its prior submissions.
Jedrska elektrarna bi zagotovila stabilen vir zmogljivosti za pasovno električno energijo, s čimer bi k varnosti oskrbe prispevala bolj predvidljivo kot tehnologije začasne proizvodnje.
The main arguments provided by the UK in response to the key concerns raised by interested parties will be highlighted below.
NEDELOVANJE TRGA IN POTREBA PO POSREDOVANJU DRŽAVE
Only the responses to the most relevant comments in relation to the State aid assessment will be highlighted.
Združeno kraljestvo se ni strinjalo s pripombami, da bi v primeru neobstoja pomoči trg izvedel naložbe v novo jedrsko elektrarno.
EXISTENCE OF AID AND SGEI
Nasprotno pa se je strinjalo s pripombami, da je jedrska proizvodnja nagnjena k več primerom nedelovanja trga, ki brez posredovanja države trgu preprečujejo doseganje učinkovite ravni dekarbonizacije in varnosti oskrbe.
The UK reiterated its view that Member States have a wide margin of discretion in defining an activity as SGEI.
Tri najpomembnejše oblike nedelovanja trga, ki vplivajo na spodbude za naložbe v jedrsko proizvodnjo, so (1) nedelovanje trga na področju dekarbonizacije, (2) nedelovanje trga na področju varnosti in raznolikosti oskrbe in (3) nepopolnosti finančnih trgov (nepopolni trgi prenosa tveganja in oviranje).
Supposedly, Article 8 of the Electricity Directive would not be applicable to the notified measure.
Združeno kraljestvo je poudarilo, da je EPR nova tehnologija ter da v Združenem kraljestvu naložb v jedrsko energijo ni bilo že 30 let.
The UK also considered that even in the absence of a formal tendering process, it widely advertised the opportunity for developers to come forward to discuss the Investment Contracts or early CfDs for low-carbon generation.
V drugih državah novi jedrski projekti prav tako dobijo državno podporo.
In relation to the Credit Guarantee, the UK continued to argue the absence of aid as it would be provided on market terms and would be available to other projects as well.
Brez državne podpore v Združenem kraljestvu elektrarna EPR ne bi bila naročena.
The UK argues that the IUK guarantee scheme is open to large investment projects in UK, including investments in renewable energy projects as well as nuclear projects.
Združeno kraljestvo je še poudarilo, da drugi mehanizmi ne bi zadostovali za izpolnjevanje skupnih ciljev.
As regards the compensation, the UK authorities claim that the SP has been set on the basis of: (i) a rigorous Cost Discovery & Verification process to assess the costs of the HPC project conducted with support from external financial and technical advisers; (ii) a thorough assessment of the level of returns that would be reasonable for investors to seek in relation to the HPC project through benchmarking against other similar projects; and (iii) a challenging set of negotiations that were underpinned by an analysis on the upper level of the SP that the UK Government considered appropriate for HPC comparing it also with the costs of other forms of electricity.
Upravljavci, ki imajo sklenjeno pogodbo na razliko, ne morejo sodelovati na trgu proizvodnih zmogljivosti, učinek spodnje meje cene ogljika na cene emisij ogljika pa ne bi zadostoval za podporo naložbam v nove jedrske zmogljivosti.
The UK Government also conducted a value-for-money assessment which allowed it to conclude that: (i) the return on investment for the HPC Project was fair and would not overcompensate NNBG; (ii) the SP was cost-competitive with low carbon and unabated gas generation; and (iii) overall HPC would bring net social benefits and meet the affordability constraints of the UK Government.
USTREZNOST INSTRUMENTA IN SPODBUDNI UČINEK
With reference to the Secretary of State Agreement, the UK authorities argue that the reason for this additional agreement is that the operation of nuclear power stations is particularly susceptible to changes in political support for nuclear power.
Združeno kraljestvo ne verjame, da pogodbe na razliko za jedrske zmogljivosti prinašajo več prednosti kot pogodbe na razliko za obnovljive vire energije, saj vsebujejo dodatne klavzule, ki so bolj stroge (npr. ureditve delitve dobička).
In such circumstances, the Secretary of State has committed to paying compensation (if the payment is not made by the CfD Counterparty) in order to put NNBG's investors in the same position as if the political shutdown had not occurred.
Prav tako pa, kar je tudi vprašanje, ki se prekriva s sorazmernostjo ukrepa, trajanje pogodbe na razliko ne more obveljati za pretirano, saj je treba upoštevati najkrajše možno trajanje, ki bi uresničilo naložbo.
The UK states that the Secretary of State Agreement does not restrict the UK Government's ability to close nuclear plants.
Ukrep bi prinesel spodbudni učinek, med drugim bi podjetje NNBG spodbudil k izgradnji elektrarne še pred prejemom kakršne koli odškodnine.
Reportedly, the CfD combined with the Secretary of State Agreement would recognise the continuing ability of the UK Government to do so precisely because it would provide for compensation to be paid were HPC to be closed for political reasons.
SORAZMERNOST UKREPOV
The UK authorities claim that it would not be possible for the current UK Government to commit future governments to keep nuclear power stations open.
Združeno kraljestvo je poudarilo argumente v podporo svojemu stališču, da so ukrepi sorazmerni.
OBJECTIVES OF COMMON INTEREST
Ravni donosov na lastniški kapital, ki jih navajajo nekatere pripombe, ne bi bile realne, mehanizem delitve dobička pa bi preprečil prekomerno odškodnino, takoj ko bi bil dosežen prag 15 %.
In relation to the comment that the Euratom Treaty cannot provide a common objective except where the Commission policy expressly endorses it, the UK remarked that the Euratom Treaty continues to form part of the constitutional arrangement of the EU and has not been abrogated, and that there would be no basis to claim that Commission policies towards nuclear could affect the meaning or the interpretation of the Treaty, which cannot be unilaterally altered by the Commission.
Družba EDF ob koncu trajanja pogodbe na razliko ne bi mogla imeti tržne moči ali nepričakovanega dobička, in sicer zaradi zaprtja obstoječih jedrskih elektrarn še pred začetkom obratovanja nove elektrarne, vstopa novih nizkoogljičnih elektrarn in vstopa drugih upravljavcev jedrskih zmogljivosti.