South Korean company close to investing in UK nuclear plant

Posted: September 12, 2016 by oldbrew in Nuclear power

Proposed nuclear plant at Moorside [credit:]

Proposed nuclear plant at Moorside [credit:]

Utility Week points to a press report that shows untried French nuclear reactors are not the only game in town for the UK, as it increasingly struggles to ‘keep the lights on’.

Korea Electric Power Corporation (Kepco) is close to investing in the £10 billion Moorside nuclear plant in Cumbria, the Financial Times has reported.

Sources said progress has been made towards a potential equity stake for Kepco as well as possible role in construction. The company is 51 per cent owned by the South Korean government, which has set the target of becoming the world’s third largest nuclear reactor exporter by 2030.

The Moorside project is currently a joint venture between Engie and Toshiba. It will use three AP1000 reactors supplied by Westinghouse – the US-subsidiary of Toshiba. With a total capacity of up to 3.8GW, once operational it will meet around 7 per cent of the UK’s electricity needs.

A spokesman for NuGen said: “NuGen does not comment on speculation about discussions with potential investors into our Moorside Project.”

In May it was revealed the first of the reactors will not be up and running until the end of 2025, and not in 2024 as previously thought.

Author: Tom Grimwood

Full report: Utility Week – South Korean company close to investing in Moorside: report

  1. oldbrew says:

    Lord Lawson to give evidence to the Economic Affairs Committee for its inquiry into ‘The Economics of UK Energy Policy’. Lord Lawson is a former Secretary of State for Energy.

    Questions will include: ‘Should the terms of the agreement to build Hinkley Point be revisited?’

    Hinkley (3200 MW) looks far more expensive – double the cost probably – than Moorside (3400 MW) for a similar output.

  2. John PAK (Au) says:

    The Brits designed some highly effective Magnox reactors and now run Advanced Gas-cooled Reactors. What happened to that excellent design team at UKAEA who understood how to use liquid carbon dioxide coolant in a graphite moderated reactor ?

    The Germans were developing a high temp pebble-bed unit that used liquid helium coolant. Sure, it was expensive but I see safety as a primary consideration and the idea of building big new units with high pressure water as a coolant seems short-sighted after the open-ended disasters at Chernobyl and Fukushima.

    Wind turbines are probably 4X the cost of AGR electricity (per MWHr). People seem to be able to pay for super-expensive wind power so why not super-expensive but reliable Pebble-bed Reactor power ?