Red tape threatens GE Hitachi's nuclear bid
The US-Japanese joint venture bidding to build nuclear power plants in the UK could struggle to rush its reactor designs through Britain's notoriously lengthy licensing process.
GE Hitachi is keen to introduce its own boiling water-based reactor for its bid for the Horizon nuclear project, which will invest £15bn in plants in Anglesey and Gloucestershire. The nuclear new build policy was thrown into doubt three months ago when the German utilities E.on and RWE withdrew from the programme, but three consortia have since bid to take over.
Toshiba-owned Westinghouse and France's Areva have advantages over GE Hitachi because their own reactors are going through the UK's Generic Design Assessment for approval. A Whitehall source said: "GE Hitachi has built a lot [of reactors] so they think they could get through the GDA faster and then build faster. That may not be easy – they don't have a UK supply chain so it won't be that fast."
It is rumoured that Westinghouse has a stronger financing plan in place than Areva, making it a slight favourite to snap up Horizon.
The programme faces further problems should Centrica decide to pull-out of the programme. The British energy giant will decide later this year whether to commit to new nuclear, though EDF has drawn up contingency plans if it is left to push ahead on its own.
Feat of engineering: Incredible photographs show construction beneath New York's Second Avenue
Charles Saatchi accepts police caution for assault after trying to dismiss Nigella Lawson row as 'playful tiff'
Google, BT and Yahoo! agree plan to tackle child porn
Exposed: Edward Erin, the doctor whose faked asthma drug test results proved fatal
Charles Saatchi: Taking caution for holding Nigella Lawson's throat was 'better than it hanging over all of us'
- 1 Freedom fighters? Cannibals? The truth about Syria’s rebels
- 3 Special Report: US troops are stationed in Japan to protect the nation. But to sex workers in Okinawa, they bring fear, not security
- 4 Vice pulls 'breathtakingly tasteless' fashion shoot glorifying the suicides of famous female authors from Sylvia Plath to Virginia Woolf
- 5 Iran to send 4,000 troops to aid President Assad forces in Syria
iJobs Money & Business
£65000 - £85000 Per Annum: The Green Recruitment Company: The Green Recruitmen...
£400 per day: Orgtel: A top tier banking client urgently requires a Senior Bus...
£250 - £350 per day: Orgtel: Financial Crime Analyst,Midlands, Banking, AML/Sa...
£20,000 - £45,000 OTE: Co-Venture: Working for this company will give you a ch...