According to spokespersons for the proposed ‘NuGen’ nuclear development at Moorside in Cumbria either or both the Japanese and American Governments could end up part-paying for the proposed 3.8 GW project. That is if it ever happens (which I doubt). According to a report in World Nuclear News, NuGen’s boss Tom Samson said that they were hoping to get the US and Japanese Government’s support to supply export credit guarantees for the debt element of the necessary investments – as well as the British Treasury. What this means is that if there are serious cost overruns on the project that exceed the equity (risk capital) element of the project then the Governments would end up paying out. Given the track record of the only western-based nuclear plant using the AP1000 technology from Toshiba that is earmarked for the project then this scenario is all too plausible. The only two projects in the West are at Virgil C Summer in South Carolina and Vogtle in Georgia. Both are suffering serious cost overruns and will not be built on time. It is just a question of how high the cost overruns will be. Of course these plant are being built with what amounts to a blank cheque. The developers are monopoly electricity suppliers with compliant regulators who allow the electricity companies to charge the electricity consumer (in advance) for whatever the power plant costs.
Dave Toke’s Blog 19th May 2016 read more »
NuGen says it expects to begin operations at its new nuclear power project in Britain by 2025, overtaking Hinkley Point C as the first new nuclear plant in the country in two decades. The joint venture between U.S.-based Westinghouse and France-based Engie is building three Westinghouse AP1000 reactors in Cumbria at the Moorside Nuclear Project, with a planned total capacity of up to 3.8 GW. France-based EDF said it plans to finalize an investment decision on Hinkley Point C by September, with the two Areva-designed European Pressurized Reactors (EPRs) potentially completed by 2026. NuGen must still secure approval for the AP1000 under Britain’s Generic Design Assessment approval process, which is expected to be finished by early 2017, according to Reuters. A final investment decision for Moorside is then set for 2018. A third nuclear plant, Hitachi’s Horizon, is also scheduled to begin operations in Britain in the 2020s.
Power Engineering 19th May 2016 read more »
NuGen has run two contests for designers to come up with their vision for several buildings at the development, at Moorside, near Sellafield, including a visitor centre and worker accommodation. These were run through two separate organisations the Royal Institute of British Architects (RIBA) and the Landscape Institute. The first of these has focussed on the site’s buildings while the latter has been about the overall layout of the area. Each body has chosen five finalists for their own competitions. The shortlists have been selected by independent panel of experts – including Sir Terry Farrell, who designed the iconic MI6 building in London and Paul Tiplady, former chief executive of the Lake District National Park Authority – and the public has now been invited to give their views. NuGen chief executive, Tom Samson, said: “We have had an overwhelming response to the competition, both in terms of numbers and the level of creativity in the designs.
Whitehaven News 19th May 2016 read more »
Utility Week 19th May 2016 read more »
World Nuclear News 19th May 2016 read more »