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8th October 2014

NuGen response to State Aid Decision

NuGen, the UK nuclear company developing plans for Europe’s largest new nuclear construction project, today welcomed the European Commission’s conclusion on the State Aid inquiry into Hinkley Point C.

Following a robust and comprehensive review by the commission, which examined the UK Government’s approach to agreeing an investment contract for EDF Energy’s proposed power station in Somerset, NuGen is given confidence that the decision signals  the contract for different and state guarantee arrangements are in-line and consistent with rules relating to other low carbon energy projects in Europe.

NuGen welcomes the positive decision, and supported the UK Government’s position during an earlier public consultation.

The UK faces the dual challenges of securing future energy supplies, and achieving reductions in C02 emissions in line with international legislation, and we believe new nuclear has a vital role to play in achieving these aims for Britain.

The decision recognizes the vital role nuclear plays in the UK’s balanced energy mix, and gives confidence to NuGen in taking forward plans for our Moorside project in West Cumbria.

Moorside will be the largest of three nuclear new build projects of national significance, and could power up to 6 million homes, and provide work for between 14,000-21,000 people during the lifetime of the project.  NuGen plans to build three AP1000 nuclear reactors on the site, to the north and west of the Sellafield complex, with a combined output of up to 3.4GW – equivalent to 7% of the UK’s future electricity needs.

 

 

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