The major nuclear business Nugen have recently stressed their commitment to the UK nuclear build program and confirm they are continuing to plan to develop a nuclear plant in west Cumbria despite the UK’s decision to leave the EU.
The Moorside project will involve a total investment of £20Bn to develop a new nuclear power station.
There has been a lot of concern recently (and rightly so) regarding the implications of the UK leaving the EU and how this will affect investment into energy programs. Nugen is a conglomerate of French, American and Japanese companies and apparently NUgen had made it quite clear that their investments were more secure with the UK as part of the E.U.
However Nugen believes major investment in nuclear power provide stability for the UK. The development of the nuclear plant at Moorside will create the largest new nuclear power station in Europe.
Nuclear power stations are still seen as vital for the future of UK energy industry and achieving low carbon, secure electricity for the future generations.
The main concern that has been flagged by most energy companies when talking to Energy Jobline is the current level of uncertainties on what policies and agreements will be in place to support further investment. The lack of clarity on policy and further safeguard from the Government to deliver investment stability for UK infrastructure projects such as this could hinder the current development plans.