Government money could help “unlock progress” with the troubled Moorside nuclear power station, according to Tim Yeo. Speaking to Utility Week, the chairman of New Nuclear Watch Europe and former chairman of the energy and climate change select committee said there was a question of whether the British government “is willing to put any of its own money” into Moorside, either by way of a loan or an equity stake in the power station. Yeo said he believed this would “undoubtedly unlock progress” with the project. Last week it was revealed Chinese General Nuclear (CGN) are looking to bid for an equity stake in the NuGen site in Cumbria. Yeo said it was “useful” to have CGN in the background as there have also been discussions between NuGen and the South Korean firm Kepco about investing in Moorside. “I think there’s still a difficulty over the [strike] price,” he told Utility Week. “Obviously, from the government’s point of view any future strike price will have to be significantly below Hinkley. I’m sure both Kepco and CGN are capable of delivering a price below the Hinkley strike price, but there’s a haggle to take place there.”
Utility Week 29th Sept 2017 read more »