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Cumbria business chief in a stew over possible abandonment of £15bn Moorside nuclear project

Carlisle News & Star 12th Sept 2018 , Business chief blames Government policy for “frightening off” Moorside
investors. Cumbria Chamber of Commerce boss urges ministers to change tack
to save £15bn project. Rob Johnston, chief executive of Cumbria Chamber of
Commerce, told in-Cumbria that the Government’s use of a regulated asset
base (RAB) model to finance Moorside was a risk of killing the
transformation project. Repeating previous calls for the Government to
invest directly in Moorside to ensure it happens, he placed the blame for
the delays squarely at the door of its Nuclear Sector Deal published back
in June.
http://www.newsandstar.co.uk/news/business/Business-chief-blames-Government-policy-for-frightening-off-Moorside-investors-47c201f1-f162-4f96-b702-629bb2ff41a3-ds

Building 12th Sept 2018 , The company behind the £10bn Moorside nuclear power station in Cumbria is
cutting more than 60 of its 100 staff as its parent Toshiba continues its
struggle to sell the company. NuGen was originally a joint venture between
Toshiba and French multinational Engie but ran into trouble last year when
Toshiba’s US subsidiary Westinghouse – which had been due to supply the
nuclear reactor for Moorside – filed for bankruptcy.

https://www.building.co.uk/news/firm-behind-moorside-nuclear-plant-cuts-more-than-half-its-staff/5095510.article

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September 14, 2018 - Posted by | business and costs, politics, UK

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