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
Follow Power Engineering on Twitter

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.

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.

Archived Articles

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

Power Engineering Current Issue

10/01/2014
Volume 118, Issue 10
1410pe-cover

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

SPSI

SPSI is a privately held fabricator of high quality process, power and nuclear piping systems used primarily in the domestic and international power generation and petrochemical industries.

URS

URS plans, designs, engineers, constructs, retrofits, and maintains power plants and the systems that transmit and distribute electricity. Our expertise encompasses fossil fuel, nuclear, and hydroelectric power generating facilities, as well as alternative and renewable energy sources. We develop and install clean air technologies and perform major nuclear component

Serdula Systems Ltd

Provides consulting services from R&D, engineering, operations, and assessments to bid evaluation and feasibility studies to national and international organizations in the nuclear power industry.

The Merrick Group Inc

More than 20 years experience in the high-pressure water jetting industry. Our specialists offer vast experience and unparalleled expertise in industrial, nuclear plant cleaning maintenance.

Power Industry Wire News

BASF Brings Hands-On Science to More Than 2,000 Schoolchildren During National Chemistry Week

BASF Brings Hands-On Science to More Than 2,000 Schoolchildren During National Chemistr...

SCS-Certified Products Among Top 10 Products Honored by BuildingGreen at Greenbuild 2014

SCS-Certified Products Among Top 10 Products Honored by BuildingGreen at Greenbuild 2014

Arabella Exploration Backs Into Additional Acreage

Arabella Exploration Backs Into Additional Acreage

FLIR Systems Announces Third Quarter 2014 Financial Results

FLIR Systems Announces Third Quarter 2014 Financial Results

Despite Declining Demand, BASF Increases Sales and Earnings in the Third Quarter of 2014

Despite Declining Demand, BASF Increases Sales and Earnings in the Third Quarter of 2014

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 >>


Power Engineering Newscasts

EPA chief: carbon caps will boost economy
Australia, Russia enter nuclear power agreement with Argentina
Largest battery energy storage in North America now operational
EPA chief: carbon caps will boost economy Largest battery energy storage in North America now operational Australia, Russia enter nuclear power agreement with Argentina Texas’ Panda Temple combined cycle plant up and running
Siemens agrees to acquire Dresser-Rand
Safety concrete poured at UAE nuclear reactor power project
Foster Wheeler to upgrade natural gas-fired power plant’s emission controls
GE, TransCanada partner on natural gas turbine design
Energy storage global market to grow to $15.6B by 2024; DOE awards $2M to support taller wind turbine towers; Hinkley Point C nuclear project have financial incentives approved; N.J. company building waste-to-energy project in Ireland