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Collapse of UK’s nuclear power plans as Hitachi Exit Follows Toshiba

U.K’s Nuclear Future Fades as Hitachi Exit Follows Toshiba, Bloomberg, By Lars Paulsson and Mathew Carr January 11, 2019, 

EDF’s atomic plants need to be replaced by new generation

Offshore wind could be the winner from withdrawal, RBC says

…….Japanese conglomerate Hitachi Ltd. will halt work on the Wylfa project and take a one-time charge as negotiations with the British government over funding stalled, the Nikkei newspaper reported. After Toshiba Corp.’s withdrawal from its Moorside plant in November, it leaves the nation with just Electricite de France SA’s Hinkley Point project underway and that’s been mired in controversy because of delays and the cost to the U.K. consumer.

……..The Nikkei report said the company’s board will make a decision next week and cited an unidentified executive saying the project isn’t being abandoned entirely and could be restarted in the future.

Toshiba said in November it planned to liquidate NuGeneration Ltd., its U.K. nuclear power developer, after failing to find a partner or a buyer for the Moorside project. In September, China General Nuclear said it may give upthe chance to operate a nuclear plant at Bradwell amid political sensitivities over Chinese investments, the Financial Times reported.

As the U.K. is running out of nuclear options, other technologies stand to benefit.

“We see offshore wind as increasingly viable,” said John Musk, utilities analyst at RBC Europe Ltd. Natural gas power will probably provide a significant amount of the baseload power not met by renewables……..https://www.bloomberg.com/news/articles/2019-01-11/u-k-s-nuclear-future-fades-as-hitachi-exit-follows-toshiba

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January 14, 2019 - Posted by | politics, UK

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