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RWE, E.ON scrap $24 bln British nuclear plan
German utilities E.ON and RWE have pulled out of a 15 billion pound ($23.78 billion) plan to build new nuclear power stations in Britain, throwing into doubt the UK government's push for a new fleet of nuclear plants by 2025.
The companies said Germany's sudden decision to phase out nuclear power, the high running costs of their Horizon joint venture and the long lead times required for nuclear plants resulted in the decision to sell the venture.
"A strategic decision has therefore been made by both RWE and E.ON that they will not develop new nuclear power projects in the UK through the Horizon joint venture," the companies said in a statement, confirming what sources close to the negotiations had earlier told Reuters.
http://www.reuters.com/article/2012/03/29/britain-nuclear-rwe-idUSL6E8ET2JU20120329
The companies said Germany's sudden decision to phase out nuclear power, the high running costs of their Horizon joint venture and the long lead times required for nuclear plants resulted in the decision to sell the venture.
"A strategic decision has therefore been made by both RWE and E.ON that they will not develop new nuclear power projects in the UK through the Horizon joint venture," the companies said in a statement, confirming what sources close to the negotiations had earlier told Reuters.
http://www.reuters.com/article/2012/03/29/britain-nuclear-rwe-idUSL6E8ET2JU20120329
I predict more moves by the government that will draw debate re: whether they should count as subsidies or not.
