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New Nuclear UK : fears Hinkley uncertainty will affect Wylfa, Moorside, Sizewell and Bradwell

Moorside NuGen plan CumbriaNucClear News No 87,  5 Aug 16 New Nuclear: Wylfa, Moorside, Sizewell and Bradwell. Horizon and NuGen are both insisting that their projects at Wylfa and Moorside are not dependent on EDF getting the go-ahead for Hinkley. But Industry experts have warned that confidence across the sector would be damaged if Theresa May pulls the plug, especially given the French energy giant has already invested £2.4bn in Hinkley with unstinting Government support until now. If Hinkley were cancelled without any reimbursement for EDF, this would “significantly undermine” other developers’ confidence and might prompt them to seek some sort of financial guarantee. (1)
Greg Clark flew to Tokyo at the end of July on a three-day mission to convince Hitachi and Toshiba of the government’s commitment to new nuclear power stations in Wales and Cumbria and drumming up funds for the reactors, which he says are needed to replace Britain’s ageing coal and nuclear plants.
Hitachi and Toyota are understood to be concerned about Britain’s commitment to nuclear power. They hope to use the reactors as a showcase for their nuclear technology – Advanced Boiling Water Reactors and AP1000s. But the funding for the schemes has yet to be found, and both are scrabbling for investment. (2)
Meanwhile prominent nuclear lobbyist and former chair of the House of Commons energy select committee – Tim Yeo – says Russian, Chinese and South Korean nuclear companies should be offered subsidy contracts to build reactors in the UK if they are cheaper than other projects already under development. Yeo who chairs New Nuclear Watch Europe, a lobby group whose members include the Korean nuclear firm Kepco, urged the Government to “urgently examine which nuclear vendors can deliver the cheapest electricity, maximise the number of UK supply chain jobs and minimise the risk of construction delays”. (3) …….http://www.no2nuclearpower.org.uk/nuclearnews/NuClearNewsNo87.pdf

August 5, 2016 - Posted by | business and costs, politics, UK

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