Vattenfall's Josefsson: We have not ruled out UK nuclear investment

By Tim Probert

16 November 2009 - Vattenfall's outgoing CEO Lars Josefsson, in an interview with Power Engineering International (PEi), said the Swedish utility will look to invest in nuclear power stations in the UK after 2010.

Last month state-owned Vattenfall dropped plans to build new nuclear plants in the UK under pressure from the Swedish government. Sweden's minister for enterprise and energy, Maud Olofsson, said in November that investment in UK nuclear power had been "dismissed on business grounds" due to the recession.

However, Vattenfall considers nuclear power investment in the UK to be an attractive long-term prospect. "In the short term there is no room for investment in the UK, at least not in the next couple of years. However, nuclear power is a very long term commitment and I wouldn't rule it out in the longer term," Josefsson told PEi.

Josefsson, who is to be replaced in the first half of 2010 by Øystein Løseth, CEO of the Dutch company Nuon, which is 49 per cent owned by Vattenfall, said the UK should introduce new mechanisms in order to facilitate investment in nuclear power.

"Nuclear power is very capital intensive, so it's a question of the UK government doing more for risk mitigation. I'm not sure about a carbon tax, but a carbon floor price would offer more certainty."

Sponsored by FLSmidth

Related Articles

NRC: DOE’s Yucca Mountain R&D meet NRC requirements

The staff of the U.S. Nuclear Regulatory Commission (NRC) published Volume 4 of its safety evaluation report on a proposed underground used nuclear fuel repository in Nevada.

Westinghouse continues to provide nuclear fuel to French power plants

Westinghouse Electric Co. and EDF signed a new long-term nuclear fuel contract to support EDF’s nuclear power plants in France.

Follow Power Engineering on Twitter

Latest News

Shutterstock coal production trucks

Weekly Coal Production

The Weekly Coal Production shows how much coal is being produced across the U.S.

Federal Reserve Bank of Dallas Weekly Economic Indicators financial business

The Federal Reserve Bank of Dallas' Economic Indicators

The Federal Reserve Bank of Dallas offers a glimpse into how the markets are doing domestical...

Kvaerner awarded contract for gas-fired power plant in Delaware

Kvaerner North American Construction Inc. and its joint venture partner, Parsons Brinckerhoff...

Canadian Solar purchases two solar projects

Canadian Solar Inc. has acquired a majority interest in two utility-scale solar power project...

Operators Restart Unit 2 at PPL Susquehanna

Unit 2 at the PPL Susquehanna nuclear power plant near Berwick, Pa. resumed generating electr...

Settlement agreement limits cost recovery at Edwardsport

The Indiana Utility Regulatory Commission (IURC) on Dec. 27 modified and approved a settlemen...

Toshiba in talks to sell portion of Westinghouse nuclear unit

Toshiba Corp is in talks  to sell up to 16% of its stake in the Westinghouse Electric Co...

Utah nixes nuclear waste storage facility

Plans to park radioactive waste at a storage facility in Utah have been officially called off.

Power Engineering Current Issue

03/01/2014
Volume 118, Issue 3
1403PE-cover

Products Showcase

Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013

Buyers Guide Product Listings

Nondestructive Examination and Testing

Advanced nondestructive examination, NDE, techn...

Engineering Services

Structural Integrity Associates, Inc. (SI) is a...

Buyers Guide Company Listings

Power Industry Wire News

DPG Investments, LLC Welcomes New Talent, Touts 2014 Team Achievements

DPG Investments, LLC Welcomes New Talent, Touts 2014 Team Achievements

MCW Energy Group Details Further Progress of Its Initial Oil Sands Extraction Plant in Utah

MCW Energy Group Details Further Progress of Its Initial Oil Sands Extraction Plant in ...

American Power Group Corporation Reports Fourth Quarter and Fiscal 2014 Results

American Power Group Corporation Reports Fourth Quarter and Fiscal 2014 Results

Ambient Water Releases Letter to Shareholders

Ambient Water Releases Letter to Shareholders

Western Gas Partners Announces Expiration of Third Party Option

Western Gas Partners Announces Expiration of Third Party Option

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>