Hitachi halts work on UK nuclear plant over financing

18/01/2019 09:27 Nuclear


Japan's Hitachi suspended its major nuclear power station project in the U.K. over financing, the company announced Thursday.

Hitachi had been in talks with the U.K. government about funding for the Wylfa Newydd nuclear power station at Wylfa on the Isle of Anglesey in North Wales, which its subsidiary Horizon Nuclear Power was building.


The decision was made from the viewpoint of Hitachi's economic rationality as a private enterprise, according to the company's statement.


However, the company said despite discussions with the government, it was unable to reach an agreement and halted work on the power station. It will also suspend work on another site at Oldbury-on-Severn in South Gloucestershire.


The company planned to build a new nuclear power generation plant at Wylfa with at least 5,800 megawatts. The power station sites were expected to provide up to nine thousand construction jobs and employ up to 850 on each site once operational.


Daily (19.04.2019): NBP spot tumbled by 7.5% on Thursday due to weaker demand ahead of Easter holidays

19/04/2019 09:51:00

The prospects of a tighter supply due to reduced crude exports from Saudi Arabia coupled with lower oil inventories and fewer active rigs in the U.S. led to a rise in crude oil prices on Thursday. A stronger dollar lent more support to prices. As a result, Brent crude traded 0.5% higher at $71.97 a barrel. In the meantime, WTI futures gained 0.4% to close at $64.00 a barrel.


EU grants Poland a further 215 million euros for Baltic Pipe gas project

19/04/2019 09:09:00

The European Commission has signed a deal with Poland’s GAZ-SYSTEM that will see a further 215 million euros invested in a natural gas pipeline between Denmark and Poland in order to import Norwegian gas.


ConocoPhillips to sell UK oil and gas business for $2.68bn

19/04/2019 09:07:00

US energy giant ConocoPhillips is selling its oil and gas business in the UK to Chrysaor Holdings in a deal worth $2.68 billion (£2bn).