The company behind plans to build a new nuclear power station on Anglesey has reported a £1.68bn pre-tax loss. Work at Wylfa Newydd was suspended in January by Hitachi due to rising costs. The latest accounts filed by its subsidiary Horizon Nuclear Power Ltd show it cut the value of the land and equipment by £1.52bn as it does not intend to build a new power station. The accounts also show that staff redundancies and winding up work also cost £127m. Horizon will now be put into a “suspended state” following the release of most of its workforce and termination of most of its commercial contracts, according to its annual report. A report by the Welsh Affairs Committee said the UK government should encourage Hitachi to sell the site if it is not prepared to resume work. Horizon previously said its main planning permission was being considered, as it keeps its options open. “They are going ahead with the application because they’ve done so much work already, it’s worth spending the additional money to finish that work,” said Dr Edward Jones, economics lecturer at Bangor University.
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