A decision is expected about whether work to build a new nuclear power station on Anglesey will be halted. Japanese media has reported that Hitachi will suspend construction of its £20bn Wylfa Newydd plant – with the board due to meet on Thursday. Wales’ Economy Secretary Ken Skates said he expected an announcement to be made during the morning. Anglesey council said if the project was paused it would be a “tremendous blow” to the north Wales economy. Edward Jones, a lecturer in economics at Bangor University who advises the North Wales Growth Bid, said: “A pause is the best case scenario if we consider how the share price reacted last Friday. When there were rumours they were going to suspend the project the share price jumped by 8%.” Speaking on BBC Radio Wales’ Good Morning Wales programme, Dr Jones said investors did not like Hitachi in its current form and it would be “difficult to do anything other than pause or scrap” the project. “If Hitachi does come out and say they’re going to pause the project, the UK government have to act very quickly to find out what they mean by pause, is it six months or six years?” Dr Jones added people in north Wales had already been investing in developing new skills for the project, along with investment by Hitachi themselves and other stakeholders. “I think it does fall on to the UK government then to make a decision to see how they could help Hitachi… But once we hear the announcement we’ll know a bit more about that.”
BBC 17th Jan 2019 read more »
Hitachi is expected to scrap plans to build a nuclear power station in Wales, becoming the second firm in two months to abandon a major nuclear project. The £16bn Wylfa plant on Anglesey was meant to be the next in a line of new nuclear plants behind Hinkley Point C but the Japanese conglomerate has been unable to agree a deal with the UK government. With costs mounting and nearly £2bn spent on the project, a Hitachi board meeting is anticipated to pull the plug on Thursday. The decision would be a serious blow to the government’s energy strategy and hopes of attracting major investments post-Brexit. Questions will be raised over whether ministers should redouble their efforts to make the numbers work for nuclear, or pivot to a new strategy that hugely expands the build-out of renewables.
Guardian 17th Jan 2019 read more »
Wylfa nuclear: Welsh Government seeks Westminster assurance. The Welsh Government has called on Westminster to provide assurances it is doing “everything possible” to secure investment in the Wylfa Newydd nuclear site.
Construction News 16th January 2019 read more »
Prime Minister Therera May says she did discuss Wylfa Newydd with the Japanese PM last week but any decision will be a “commercial” one by Hitachi. The board of Hitachi is set to meet in Japan on Thursday with it widely expected to suspend the nuclear project on Anglesey. Last week Japan’s Shinzo Abe met Mrs May at Downing Street but their press conference made no mention of Hitachi’s plans in the UK. But this afternoon Wrexham Labour MP Ian Lucas challenged Theresa May during Prime Minister’s Questions.
Daily Post 16th Jan 2019 read more »