nuclear-news

Britain’s nuclear power programme a cash cow for overseas companies

Half of £24bn nuclear reactor investment will go to overseas suppliers More than £12bn of the UK government spend on two new power plants will go abroad, mainly to companies in France, a government adviser warns, Guardian, Terry Macalister, 7 Dec 15  More than half of the £24bn expected to be spent on the first British nuclear reactors for two decades could go abroad to foreign suppliers, a leading UK academic and government adviser has warned.

The issue is of extreme political sensitivity because George Osborne has already faced criticism for providing huge subsidies to Hinkley, which is being developed by EDF Energy of France.

It will be seriously tough for British manufacturers to meet the needs of EDF in line with the commitment that 60% of the value of the project will remain in this country,” said Sir Keith Burnett, who is a member of the Council of Science and Technology reporting to the prime minister, David Cameron.

Burnett, the vice-chancellor of Sheffield University, said that 40% of the total value of the work at Hinkley Point atomic plant would largely go to French firms.

At least £4bn worth of spending on items such as pipes and pumps – around 15% of the project by value – will be up for grabs for the UK but only if local companies can provide the higher specification supplies required by EDF. Burnett thinks that will be difficult to achieve…….

Part of the problem is that small and medium-sized British firms have not had the opportunity to supply equipment to a new nuclear power station since Sizewell C in Suffolk was completed in 1995.

The Hinkley Point C facility in Somerset is still awaiting the final investment decision from the largely state-owned EDF and its Chinese partners, although ground preparation is already under way………http://www.theguardian.com/business/2015/dec/06/nuclear-reactor-investment-pay-overseas-suppliers-hinkley-point

December 7, 2015 - Posted by Christina Macpherson | business and costs, UK