New nuclear power plants in UK cancelled

Horizon Nuclear Power, a joint venture formed in 2009 between E.ON UK and RWE npower, on March 29 said it will not proceed with the development of new nuclear power generation in the UK. E.ON and RWE also look to find a new owner for Horizon. The decision means alternative investors will now be sought to advance the work of Horizon Nuclear Power.

RWE said a number of factors changed since the formation of Horizon in 2009, such as the global economic crisis which has made capital for major projects a premium and nuclear power projects are particularly large scale, with very long lead times and payback periods. RWE also said the accelerated nuclear phase out in Germany led to the German-based company to adopt a number of measures, including divestments, a capital increase, efficiency enhancements and a leaner capital expenditure budget.

“We remain convinced that Horizon’s development projects represent excellent sites for new nuclear power stations in the UK,” said Volker Beckers, CEO, RWE npower. “It is because of the strength of support for our development work, particularly on the Island of Anglesey, that we continue to believe that nuclear power has an important role to play in the UK’s future energy mix. We are therefore looking to ensure that work on development, including grid connection, can be taken up quickly by other potential investors.”

Horizon was developing two nuclear projects; Wylfa, on the Isle of Anglesey and Oldbury in South Gloucestershire. The Nuclear National Policy Statement in 2011 identified both sites as suitable for new nuclear development.

Horizon said in a statement “the move was based on strategic grounds and both of Horizon’s projects remain excellent development options.” Horizon had plans to develop around 6,000 MW of new nuclear generation in the UK by 2025 with an investment of more than £15bn ($23.83 billion).

“We have made good progress in developing our sites, in particular our lead site at Wylfa, and a strong organization capable of delivering nuclear new build in the UK,” said Horizon Chief Operating Officer Alan Raymant. “We will now focus on consolidating the progress made and working with our shareholders as they investigate the opportunities for new ownership.”

E.ON said it will continue to invest in projects across the UK and the company's wider UK plans will be unaffected by the decision not to advance Horizon Nuclear Power.

"E.ON has decided to focus its investment in the UK on other strategic projects that will allow us to deliver earlier benefit for customers and our company, rather than the very long term and large investment new nuclear power calls for,” said Dr. Tony Cocker, Chief Executive of E.ON UK.

Westinghouse said the company is "disappointed" with the decision, but will continue with new nuclear builds.

"Over the next few weeks, we will engage Horizon and its owners to determine the best direction for continuing the development of these projects and to explore alternative investors in the company," a statement from the company said. "Our partners in NPD UK and the supply base are proud of the significant accomplishments made to date, espeically the granting of Interim Generic Design Acceptance of the AP1000 design in december by the Office of Nuclear Regulation."

Subscribe to Nuclear Power International magazine

Sponsored by FLSmidth

Related Articles

 Mayors: Closure of Illinois nuclear plants would hurt cities

Mayors: Closure of Illinois nuclear plants would hurt cities

Mayors of six Illinois communities are warning of potential economic consequences if three nuclear power plants close in their areas.

Paks Nuclear Power Plant joins EPRI research program

The Paks Nuclear Power Plant in Hungary has joined the nuclear research program at the Electric Power Research Institute (EPRI).

Follow Power Engineering on Twitter
Latest News
Rhode Island natural gas-fueled power plant

Chicago firm to build clean energy facility in Rhode Island

A Chicago-based company that plans to build an energy facility in Rhode Island says it will c...
States to fight EPA carbon emissions rule

Nebraska to join other states challenging new EPA rules

Nebraska Attorney General Doug Peterson says the state will join others in a legal fight agai...
Hydropower tops power generation share in Canada over next decade

Hydropower tops power generating sources in Canada, report says

Hydropower will continue to be the dominant power generation source in Canada over the next t...
Mitsubishi Hitachi group launches precipitator unit

Mitsubishi Hitachi companies launch emissions control unit

Mitsubishi Hitachi Power Systems Ltd. (MHPS), Mitsubishi Heavy Industries Mechatronics System...
China US nuclear deal passes congressional review

US-China nuclear agreement passes congressional review

An agreement allowing American involvement in China's civilian atomic industry is set to be r...
NRC special inspection at Honeywell uranium hexafluoride leak

NRC begins special inspection at uranium enrichment facility

The U.S. Nuclear Regulatory Commission (NRC) launched a special inspection at a uranium conve...
House GOP says they have votes against Iran nuclear deal

House GOP says it has the votes to disapprove of Iran deal

House Republicans said Monday that they have the GOP votes to disapprove of the Iran nuclear ...
Winners and losers in Clean Power Plan Associated Press

Who wins and loses under Obama's stricter power plant limits

President Barack Obama is mandating even steeper greenhouse gas cuts from U.S. power plants t...

Power Engineering Current Issue

02/01/2015
Volume 119, Issue 2
1502PE-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 | 2014 | 2015

Power Industry Wire News

Emerald Oil Reports Second Quarter 2015 Financial and Operational Results, Guidance Increase, Credit Facility and Term Loan Facility Update

Emerald Oil Reports Second Quarter 2015 Financial and Operational Results, Guidance Inc...

EnerCom, Inc. to Host 100+ E&P, Oilfield Service and MLP Companies at the Oil & Gas Conference(R) 20; Conference Dates Are August 16-20, 2015

EnerCom, Inc. to Host 100+ E&P, Oilfield Service and MLP Companies at the Oil & Gas Con...

Ideal Power Inc. Announces Second Quarter 2015 Results

Ideal Power Inc. Announces Second Quarter 2015 Results

Ternium Announces Second Quarter and First Half 2015 Results

Ternium Announces Second Quarter and First Half 2015 Results

Android Tablet Opportunities for VARs/Resellers

Android Tablet Opportunities for VARs/Resellers

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 >>