i-Nuclear Update: Utility execs concerned that UK govt. won't guarantee power price for new nuclear

i-NUCLEAR

Utility execs concerned that UK government won’t guarantee power price for new nuclear by I-Nuclear Potential investors in new nuclear power in the UK will need to know what power price is going to be guaranteed to them and who will guarantee it before they invest, utility executives from RWE and E.On told a House of Commons Energy and Climate Change Committee May 15. The executives said they preferred that the government be the counterparty for the proposed feed-in tarriff with contract for difference (CfD), as initially planned, rather than a private sector entity, as now proposed. UK Energy Minister Hendry still sees three consortia building new nuclear in UK by I-Nuclear UK Minister of State for Energy Charles Hendry said that he still expects to see three consortia taking forward new nuclear power projects in the UK. In bullish remarks before the House of Commons Energy and Climate Change Committee May 15, Hendry said he saw “no indication” that EDF was hesitating about its plans to build new nuclear plants in the UK. “I see no indication at all of them pulling back,” Hendry said of EDF. Hendry said he’s also seen “significant interest” from a second consortium, NuGeneration, which is made up of GDF Suez and Iberdrola, with has plans to build new nuclear at its Moorside site near Sellafield. “I’m seeing significant interest from NuGen in taking the Cumbria project forward,” Hendry said. He also said he expects a sale of Horizon Nuclear Power to a third consortium which will continue the efforts started by the joint venture owners RWE and E.On.