NuGen’s £15bn plan for a nuclear power station at Moorside, next to Sellafield, would be the biggest private-sector investment Cumbria has ever seen.
But the project is in trouble. NuGen’s owner Toshiba wants out while the Korean company that had been poised to replace Toshiba is having second thoughts. Currently, NuGen is shedding two-thirds of its workforce.
In this podcast, NuGen’s Chief Executive Tom Samson sets out his strategy to save the Moorside project against a tight deadline.
He explains why Kepco of Korea might still invest and why the Government’s proposed ‘regulated asset base’ funding model – which has been blamed for deterring Kepco – could yet be Moorside’s salvation.
He makes a compelling case for a rolling programme of nuclear new build and sets out the lasting benefits that Moorside would deliver for Cumbria.
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