Britain’s Energy Policy Thrown Into Disarray As Toshiba Faces Bankruptcy
Britain’s nuclear power plans were thrown into chaos last night as problems escalated at Japanese company Toshiba. It marks the latest setback to the Government’s plans to reduce carbon emissions and keep the lights on.
The corporate giant owns a 60 per cent stake in the planned NuGen power plant in Cumbria that is supposed to eventually supply up to 6million homes as a key part of the Government’s energy strategy.
But Toshiba has been rocked by huge losses stemming from a £5billion writedown at its US nuclear unit.
New nuclear: An artists’ impression of how NuGen’s nuclear power station in Cumbria alongside Sellafield will look. Troubled Toshiba has a majority stake in NuGen
The crisis has cast doubt over its plans for the £10billion plant in Moorside near Sellafield which is supposed to provide up to 8 per cent of the country’s energy.
It marks the latest setback to the Government’s plans to reduce carbon emissions and keep the lights on.
Ministers are also facing calls to step in with cash to help Hitachi build a plant at Wylfa in Anglesey while another plant at Hinkley Point in Somerset has been approved but sites using the same reactors abroad are facing serious delays.