Press Release: Kepco Investment in Moorside is Welcome but a Future Strike-Price Needs to be Competitive
Tim Yeo, Chairman, New Nuclear Watch Europe (NNWE)
Kepco Investment in Moorside is Welcome but a Future Strike-Price Needs to be Competitive
“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.”