Nugen confirms it is undertaking a strategic review of its options following “vendor challenges” The boss of energy consultancy Inenco has called for “a clear vision for the future” following reports that plans for the Moorside nuclear power station are being put on hold. The company’s chief commercial officer, David Cockshott, said a “strong energy plan” needs to be put in place, involving a mix of different technologies, before any proposals to build the plant in Cumbria are revisited. “Above all, the UK’s energy sector needs a sound strategy, a clear vision for the future and strong investment,” said Cockshott. In the latest development to the long-running Moorside saga, a spokesman for the Nugen consortium, which is developing the controversial nuclear plant on the Cumbrian coast, confirmed it is “undertaking a strategic review of its options following shareholder and vendor challenges”. The review comes as reports in The Times newspaper suggest Toshiba is preparing to mothball the plant, as it continues to grapple with its own financial crisis. “Nugen is confident that the review will lead them to an outcome that provides a more robust, stable and sustainable platform to meet its commitment to deliver the next generation of nuclear baseload for the UK,” added the spokesman.
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The developer behind the planned £10bn Moorside nuclear plant in Cumbria is undertaking a review of the project following the withdrawal of one of its two backers.
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Toshiba is reportedly preparing to put its nuclear power plant in Cumbria on hold. Reports claim its joint venture NuGen, which is developing the project, has warned suppliers it will have to cut spending due to its Japanese owner’s financial issues. Earlier this year it insisted Toshiba “remains committed” to the project, which is expected to meet 8% of Britain’s power needs. A NuGen spokesperson said: “NuGen is undertaking a strategic review of its options following shareholder and vendor challenges. NuGen is confident that the review will lead them to an outcome that provides a more robust, stable and sustainable platform to meet its commitment to deliver the next generation of nuclear baseload for the UK.
Energy Live News 2nd May 2017 read more »