Horizon Nuclear Power has announced that it has taken a decision not to proceed with developing new nuclear power stations in the UK, including the one planned for Oldbury-on-Severn in South Gloucestershire.
Horizon, jointly owned by E.ON UK and RWE npower, says that raising finance for power projects has become difficult due to the global financial crisis.
RWE has also been hit by costs associated with decommissioning nuclear power plants in Germany.
The two German firms formed Horizon Nuclear Power, which is based in Gloucester, in 2009.
Horizon Chief Operating Officer Alan Raymant said:
“We are grateful for the support and backing of E.ON and RWE npower since the company was formed in 2009. This has enabled us to bring our projects forward to an advanced stage.”
“We are also very pleased to enjoy broad public and political support, in particular from the communities around our sites. This continues to make nuclear new build an attractive proposition in the UK.”
“We have made good progress in developing our sites, in particular our lead site at Wylfa, and a strong organisation capable of delivering nuclear new build in the UK.”
“We will now focus on consolidating the progress made and working with our shareholders as they investigate the opportunities for new ownership.”
Energy Minister Charles Hendry told the BBC:
“E.On and RWE’s withdrawal is clearly very disappointing, but the partners have clearly explained that this decision was based on pressures elsewhere in their businesses and not any doubts about the role of nuclear in the UK’s energy future.”
“The UK’s new nuclear programme is far more than one consortia and there remains considerable interest.”
Read more: RWE and E.On halt plans to develop UK nuclear plants (BBC)
