Daily News Roundup

19 February 2017

Moorside

The future of Moorside, one of Britain’s three big nuclear projects, was thrown into doubt last night after it emerged that cash-strapped Toshiba and its partner Engie needed to find £225 million in the next two years to fund its preparation. The Cumbrian project was set to be approved at the end of next year, to join Hinkley Point C in Somerset and Wylfa in North Wales as the nuclear alternative to coal and gas. Toshiba has said it will …

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18 February 2017

Sizewell

A Suffolk MP believes much more needs to be done to mitigate the expected impact of traffic on communities across the east of the county if the Sizewell C nuclear power station is built.

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17 February 2017

New Nuclear

The government’s plans to quit the Euratom treaty pose a fresh threat to the UK’s increasingly embattled nuclear new build programme, a new report has warned. The study, issued by the Institute of Mechanical Engineers says that the government’s plans to exit the treaty could imperil fuel supplies, jeopardising energy security as well as threatening plans to build new nuclear reactors and decommissioning activities. Former energy secretary of state Sir Ed Davey told Utility Week last week that withdrawal …

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16 February 2017

New Nuclear

Companies vying to build nuclear power stations in the UK have been told they must offer a price for their electricity sharply lower than that approved for the Hinkley Point plant last year, raising further questions about the viability of Britain’s plans for a new generation of reactors. Government officials have indicated that future projects will be expected to deliver a discount of at least 15-20 per cent on the price of electricity from the £18bn Hinkley plant in …

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15 February 2017

Toshiba/Moorside

Toshiba will “consider” a continued role in the development of the beleaguered Moorside nuclear plant in Cumbria, so long as it can avoid any involvement in construction. The Japanese conglomerate said it will seek to sell off shares in the project “as planned from the beginning” as it reported its preliminary financial results for the third quarter of 2016. The fate of Moorside has been unclear since Toshiba announced earlier this year that it was reviewing its overseas nuclear activities …

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14 February 2017

Toshiba

Toshiba shocked investors on Tuesday with a last-minute delay to a long-awaited financial update, saying it needed more time to probe its Westinghouse nuclear business. Toshiba had been expected to release third-quarter earnings on Tuesday, including the exact size of a writedown for its U.S. nuclear business that is expected to top $6 billion due to hefty cost overruns at two projects, as well as planned remedies. Instead, the TVs-to-nuclear conglomerate said by email minutes after earnings had been due …

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13 February 2017

Nuclear Subsidies

Ministers at the top of the UK government are wrangling over how to support the multibillion pound development of a host of new nuclear power plants, with some senior Treasury officials hostile to direct state subsidy. Philip Hammond, chancellor, and Greg Clark, business secretary, have both taken part in talks over support for new plants at Wylfa in Anglesey and Moorside in Cumbria, according to people involved in the process. The government views the projects, each expected to cost …

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12 February 2017

New Nuclear

Ministers are poised to admit that taxpayer cash will be used to fund a new fleet of nuclear power stations – reversing years of government opposition to direct public subsidy. With Britain’s ageing coal plants due to shut by 2025, the government is banking on new nuclear reactors going up at sites including Wylfa in Anglesey, north Wales, and Moorside in Cumbria. Successive energy ministers have insisted that no public cash will be used to fund this new generation. …

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11 February 2017

Electricity Demand

They are seen as an antidote to the wave of pollution clouding Britain’s biggest cities. Within the next few years, it is hoped that a fleet of electric cars will clear the air by driving diesel and petrol engines off urban streets. However, analysis has found that the burgeoning fleet of plug-in vehicles may create a new headache of its own. Switching all cars to ultra-low emissions may place a massive strain on the power network because of the …

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10 February 2017

Moorside

Energy secretary Greg Clark said today that he will be “personally vigorous” in ensuring that the multi-billion-pound Moorside project goes ahead, adding that it is of “huge importance to the country”. Mr Clark, on a campaign visit to West Cumbria, was speaking amid speculation that the three-reactor plant planned for land next to Sellafield is in some doubt after Japanese giant Toshiba – which owns a 60 per cent share in the NuGen consortium – suggested that it could walk …

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