nuclear-news

Britain’s nuclear power plans in doubt, as companies try to get out

Britain’s nuclear future is not so bright as firms look for exit strategy, This Is money, By PETER CAMPBELL, 6th October 2011, The future of Britain’s nuclear power is at risk, with one of the three groups looking to build the next generation of reactors on the brink of splitting up. 

RWE, which owns npower, is in talks with partner E.ON about the future of its involvement in their joint project to open a reactor by 2020.

According to people familiar with the situation, RWE is looking for a way to pull out of the Horizon Nuclear Power scheme.

Costs, currently estimated to be £1million a week, are one of the reasons why the firm is looking at an exit strategy, sources said.

But a larger factor is the value of costs RWE has incurred in Germany with the compulsory closures of the country’s nuclear power plants, they added.

The two German firms already jointly-own three reactors in Germany, and have stakes in 23 reactors at power stations in Germany and Sweden.

Both face problems at home, where the political tide has turned against nuclear power following the Japanese disaster at Fukushima in March.

As a result, the German government ordered the closure of its nuclear plants……

A spokesman for Horizon refused to comment on whether it would still go ahead if one side left the table.

Last month another of the UK’s nuclear projects, NuGeneration, saw one of its consortium members drop out for f inancial reasons. SSE, which specialises in renewable development, left partners GDF Suez and Iberdrola to buy back its 25 per cent stake…..

A report on the implications of the Fukushima disaster on British reactors is due to be presented in Parliament next week by Energy Secretary Chris Huhne.

A spokesman for E.ON said: ‘Our plans for Horizon remain the same and we are committed to the project.’ An npower spokesman refused to comment.

Read more: http://www.thisismoney.co.uk/money/markets/article-2046213/Britains-nuclear-future-bright-firms-look-exit-strategy.html#ixzz1aDh0SiDj

October 8, 2011 - Posted by Christina Macpherson | business and costs, UK