Plutonium deal brings commercial opportunity and security benefits
- Published on Friday, 13 July 2012 10:32
- Posted by Scott Buckler
The Nuclear Decommissioning Authority has taken ownership of an amount of German plutonium, by participating in a series of title swaps, as part of a commercial deal which will bring financial benefit to the UK and enhance international nuclear security
The deal will make German utilities' plutonium available in France for manufacture into mixed oxide fuel for use in German reactors. This will improve security, as it removes the need for the UK to physically transport plutonium previously owned by German utilities from Sellafield to France.
The UK will deal with the plutonium in return for financial benefits, which exceed the long-term costs for the safe storage and management of the material
The commercial agreement reached will not result in any additional plutonium being brought into the UK and will not increase the overall amount in the UK, representing four tonnes of the 118 tonnes of separated material stored in the country, most of which is held at Sellafield.
The deal will enhance nuclear security across Europe as it will mean a net reduction in the total amount of separated plutonium in storage, as it allows German nuclear operators to turn it into fuel for use in their existing reactors.
The arrangements, which have been approved by the Euratom Supply Agency, are the subject of commercial agreements between the NDA, German utilities and AREVA NC.
Charles Hendry, Minister of State for Energy, said:
"The agreement reached reduces the need to transport plutonium and the overall amount of plutonium in Europe and therefore improves our security."
"The management of plutonium brings many challenges, but also opportunities to work with our European partners. This deal provides a new commercial opportunity for the UK that will bring significant financial benefits".