NUCLEAR POWER PLANT PLANS THROWN INTO DOUBT
The proposed development of a new nuclear power plant at Moorside has been thrown into doubt by reports that one of the key players is reviewing its involvement.
Toshiba will halt its nuclear construction ambitions after its Westinghouse unit incurred losses that could reach up to $6bn (£4.8bn), according to the Wall Street Journal. This is understood to include the proposed nuclear new-build at Moorside near Sellafield.
The company is likely to formally announce its plans later this month. Toshiba chairman Shigenori Shiga and the former head of Westinghouse Electric, Danny Roderick, are also expected to step down as a result.
It is thought that Westinghouse will only focus on designing nuclear reactors in the future although it will complete the building of two under-construction nuclear facilities in the US.
Toshiba president and chief executive Satoshi Tsunakawa said: “Going forward, we will revise the positioning of the nuclear business as our main focus business in the energy sector, and review the future of nuclear businesses outside Japan. In Japan, we will continue business in respect of resuming operations of idled plants, maintenance services, and decommissioning of nuclear plants, as one of our social responsibilities.
“In connection with this, we are considering to separate the nuclear business from the Energy Systems & Solutions Company, and position it as an organisation directly under the control of the president and CEO, as a measure to strengthen risk management. This will allow smoother reporting and decision-making and promote more information sharing, and also support us in our goal of securing stronger management of US nuclear project costs and enhanced governance of Westinghouse.”