Kepco Investment in Moorside is Welcome but a Future Strike-Price Needs to be Competitive

Date

07 Dec 2017

Sections

Energy

Press release

TIM YEO, CHAIRMAN OF NEW NUCLEAR WATCH EUROPE (NNWE):

“It's great news for the future of nuclear energy in Europe, and for jobs in Britain, that a new owner has been found for the troubled NuGen project at Moorside. 

The success of Kepco in building new reactors in UAE in less than 10 years from a standing start is encouraging.

However, today's announcement is only the first step in a long process. Before construction can start Kepco's design must pass the rigorous scrutiny of the Office of Nuclear Regulation (ONR).

Then there's the small matter of agreeing what consumers will pay for the electricity which will not be generated before 2030. It's a safe bet that the price will be set at a lower level than Hinkley Point.”

 

 

-ENDS-

 
For more information, please contact:
 
Ed Gavaghan
T: +44 (0)7714 283858
E: press@newnuclerwatch.eu
 
Notes to Editors:

  • NNWE was founded at the end of 2014 to help ensure nuclear power is recognised as an important and desirable way for European governments to provide affordable, secure, low carbon energy and help to meet the long-term energy needs of their citizens.
  • Membership of NNWE is open to all companies, individuals and organisations active in the nuclear industry including those involved in the supply chain. More information is available at www.newnuclearwatch.eu
  • Tim Yeo is Chairman of New Nuclear Watch Europe and the University of Sheffield Industrial Advisory Board for the Energy 2050 initiative. He is a former Minister of State for the Environment, Shadow Secretary of State for Trade and Industry, and was Chair of the Environmental Audit Select Committee from 2005-2010 and then Chair of the Energy and Climate Change Select Committee from 2010-2015.