THE firm with plans to being nuclear new build to Cumbria insists it will be “business as usual”, despite the company due to build its reactors filing for bankruptcy. NuGen made the comment after Toshiba’s US-based nuclear division, Westinghouse, filed for Chapter 11 bankruptcy. The Japanese stock market reported the news in an alert issued this morning. Toshiba has a 60 per cent stake in NuGen, which has plans for a new power station at Moorside, near Sellafield. The Japanese giant has insisted it remains committed to the Cumbrian development – though it will not take on risk from construction – but the company’s financial situation has fuelled fears over its involvement.
In Cumbria 29th March 2017 read more »
The Government is being urged to give reassurances about a planned nuclear power station in the UK after Toshiba’s nuclear unit, Westinghouse, filed for bankruptcy protection. NuGen has previously insisted that Toshiba remains committed to the project despite doubts after the Japanese giant said last month it was on track for losses of 390 billion yen (£2.7 billion) for the year to March. Doug Parr, policy director at Greenpeace UK, said: “The world is watching the meltdown of a major corporation and questioning the cost of new nuclear. Declaring bankruptcy in the USA might shield Toshiba from Westinghouse’s debt, but as Toshiba’s share price ricochets and its multi-billion dollar losses escalate, the beleaguered nuclear industry is being shaken to the core again. Every nuclear project in Europe and the USA has gone massively over time and over budget. If Moorside is to go ahead, the UK government is likely to have to wade in with taxpayers’ cash now Toshiba is poised to drop its majority stake. To save face, they look set to contribute billions of pounds of public funding to ensure the plant gets built. Considering the cautionary tale of Toshiba, the Government would do better to support the drive for a renewable energy system which will see costs fall, not spiral.”
North West Evening Mail 29th March 2017 read more »
Toshiba’s decision to place its Westinghouse nuclear unit into bankruptcy protection has deepened the uncertainty hanging over a proposed new power station in north-west England which forms an important pillar of UK energy policy. Britain’s Office for Nuclear Regulation is due to announce the approval of Westinghouse’s newest reactor, the AP1000, by the end of this week, clearing the way for its use at the proposed Moorside nuclear plant in Cumbria. Yet, what should have been an important milestone will be overshadowed by questions about whether the three AP1000s intended for Moorside will ever be built. Kepco, the South Korean government-controlled utility, has confirmed that it is interested in buying Toshiba ‘s NuGen stake, as part of its efforts to become a force in the global nuclear industry. However, it is uncertain whether Kepco would be willing to proceed with the AP1000 technology or instead replace it with its own APR1400 reactor. If Kepco made a bailout of NuGen conditional on its use of Korean technology, the project would be set back by several years because all the regulatory and planning work done so far for Moorside has been based on using Westinghouse reactors. UK regulators began reviewing the AP1000 10 years ago and it would take a minimum of four to five years for the APR1400 to be approved.
FT 29th March 2017 read more »
Telegraph 29th March 2017 read more »
Reactor maker for giant power station goes bust: Crisis for Britain’s £10bn nuclear plant as Westinghouse files for bankruptcy.
Daily Mail 29th March 2017 read more »
Dear Director of Public Health Cumbria/ Chair of the Moorside Health Impact Assessment Group. We have written to you repeatedly, including via Tim Farron MP to ask: Do you believe, like the government that “population mixing” is the cause of the acknowledged and well documented excess of childhood leukaemia near Sellafield? Or do you agree with the co-discoverer of plutonium and uranium, Dr John Gofman that there is no safe dose of radiation?
Radiation Free Lakeland 29th March 2017 read more »