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UK’s Moorside nuclear project will not go ahead unless the taxpayer pays for it

In Cumbria 16th Nov 2018 A nuclear power station for West Cumbria is unlikely to ever get the
go-ahead without the backing of public money. That was the conclusion of a
heated debate at a full meeting of Cumbria County Council, which saw an
urgent notice of motion agreed after tempers flared among the 80
councillors gathered.

It was the first time the council had met following
the decision by Toshiba to win up NuGen, the developer behind the £15
billion Moorside power station plans in West Cumbria.

The motion raised by David Southward (Lab, Egremont) and seconded by council leader Stewart
Young (Lab, Carlisle) read: “Council calls on the Government to enter
into urgent discussions with all interested parties and to take any
necessary steps to ensure that the nuclear power plant construction project
at Moorside goes ahead.

“Council considers that due to the level of commercial risk involved in projects of this nature, they are highly
unlikely to proceed without Government support, whether that be by way of
equity acquisition, underwriting potential losses or guaranteeing the
strike price.” Cllr Southward called the decision a “devastating
blow” and meant the area missing out on 5,000 construction jobs lasting
eight years, and a further 1,000 operational jobs.
http://www.in-cumbria.com/Moorside-Nuclear-power-plans-for-West-Cumbria-need-public-cash-2ebfba47-e6c9-4fb6-8a1b-1df5e4748f99-ds

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November 19, 2018 - Posted by | politics, UK

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