UK’s nuclear plans in doubt after report Welsh plant may be axed. Hitachi’s £16bn Wylfa station on Anglesey is next proposed project after Hinkley Point C. Fresh doubts have been raised over prospects for the UK’s new nuclear power programme after a report that Hitachi’s considering axing plans for a plant in Wales. The Japanese conglomerate’s mooted 2.9GW nuclear power station on Anglesey is next in line in the UK’s nuclear plans after EDF Energy’s 3.2GW Hinkley Point C scheme in Somerset. However, Japan’s TV network Asahi reported that the Wylfa Newydd scheme may be scrapped, sending Hitachi’s shares up by almost 3%, before ending up by 1%. The project is expected to be discussed at the Japanese multinational’s board meeting on Tuesday. It would be surprising if Hitachi pulled the plug on Wylfa at this stage. Tripartite talks are still ongoing between the firm and the UK and Japanese governments. The business secretary, Greg Clark, said in June that the UK was considering taking a “direct investment” in the power station, overturning decades of policy of not taking a stake in civil nuclear power. But such projects should be financed by the private sector “in the longer term”, he said. The UK is understood to have offered to take at least a £5bn-plus public stake to make the financing of the £16bn power station work.
Guardian 10th Dec 2018 read more »
Doubts over Britain’s planned nuclear revival increased yesterday amid fears that the Japanese company developing a new plant on Anglesey may be preparing to scrap the project. Shares in Hitachi rose by as much as 2.9 per cent at one point after Japanese media reported that it was considering abandoning work on the proposed Wylfa plant because of rising costs. Hitachi’s board is understood to be holding a quarterly board meeting today at which the fate of Horizon, the subsidiary developing the £15 billion-plus project, will be discussed. The company has been in talks with the British government over financial support for Wylfa and is understood to want a deal by the middle of next year or else could walk away. TV Asahi, the Japanese broadcaster, reported that a decision was likely to be taken by the end of the business year in March.
Times 11th Dec 2018 read more »
Reports in Japan say Hitachi is considering scrapping Wylfa Newydd over fears about increasing construction costs. The Japanese TV network Asahi has reported the £14bn Anglesey nuclear project could be dropped – with a key meeting of the company’s board scheduled for tomorrow. Hitachi is locked in negotiations with the UK and Japanese governments about taking a stake in the nuclear venture, Horizon Nuclear Power. Sources have indicated that the reports coming from Hitachi in the Japanese press may be part of that negotiating strategy.
Wales Online 10th Dec 2018 read more »
BBC 10th Dec 2018 read more »