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Nuclear giants RWE and E.ON drop plans to build new UK reactors

Guardian; 29/03/2012

German utilities RWE and E.ON have scrapped plans to build two reactors in the UK at Wylfa in Wales and Oldbury in Gloucestershire. The reactors were to be built by the Horizon joint venture, co-owned by RWE and E.ON. But on 29th April Horizon's owners put the business on the market, citing doubts over financing the projects and costs associated with the German government's decision to abandon nuclear power in the wake of the Fukushima disaster. EDF is so far standing by plans to build two new plants at Hinkley Point in Somerset, with hopes to open the first in 2019, but have said their final investment decision is contingent on the government underwriting long-term electricity prices.

News Item details

Websites: http://www.guardian.co.uk

Keywords: Nuclear

Countries: UK -

Organisation: RWE Npower|E.ON

Subjects: Banking, finance and investment, Trading, Project Management, Policy and Governance, Economics, business and commerce, Transformation [Energy processing] (Conversion), Electricity generation, Electricity from nuclear fuel, Electricity, Nuclear reactors