RWE and E.On halt UK nuclear plans at Wylfa and Oldbury

Published on Thursday, 29 March 2012 11:53
Posted by Scott Buckler

There has been a setback to the government's plan to attract investment in new nuclear power stations

That is after RWE Npower and E.On announced they will not develop new nuclear power projects in the UK.

The two were planning to invest in new plants in Anglesey and Oldbury, near Bristol, under a joint venture called Horizon Nuclear Power. The government says it is disappointed but there remains "considerable interest" in the project.

The firms say that raising finance for power projects has become difficult.RWE has also been hit by costs associated with decommissioning nuclear power plants in Germany.

Last May Germany decided to close down its nuclear power stations by 2022, following the disaster at Japan's Fukushima nuclear facility.

Source: BBC News

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