Hitachi buys UK nuclear project

[Jimbuna]

It just gets worse....first we consider selling off New Scotland Yard and now it's our future nuclear aspirations in domestic energy supplies...how ironic it's from the Germans to the Japanese

Can't be much left in the cupboard now...surely

The UK's nuclear expansion plans have been boosted after Japan's Hitachi signed a £700m deal giving it rights to build a new generation of power plants.
Hitachi is to buy Horizon Nuclear Power, which was intending to build reactors on existing sites at Wylfa, Anglesey, and Oldbury, near Bristol.
Hitachi is buying Horizon from Germany's E.On and RWE, which are withdrawing from the UK nuclear market.

http://www.bbc.co.uk/news/business-20134735

[SeaWolf U-57]

OMG where will it all end

[Jimbuna]

Originally Posted by SeaWolf U-57

OMG where will it all end

Time to join the Euro and get some unlimited bailout funds

[Herr-Berbunch]

Jobs is jobs. And energy is energy. We should be welcoming the move that creates both.

[Jimbuna]

The question I ponder is...if it's such a surefire win then why don't the government or some large UK energy company make the investment and keep everything 'inhouse'?

[Herr-Berbunch]

Originally Posted by jimbuna

. . . then why don't the government or some large UK energy company make the investment and keep everything 'inhouse'?

Who? EDF - French, Eon - German, Scottish Power - Spanish, Npower - German. That leaves British Gas (Centrica) and Scottish & Southern Electric as the only British companies of the big six. I'd rather it go to an experienced French or Japanese company, since long ago we lost the ability to do it ourselves.

It's still not a done deal as the reactors still need planning and approval.

[Jimbuna]

Originally Posted by Herr-Berbunch

Who? EDF - French, Eon - German, Scottish Power - Spanish, Npower - German. That leaves British Gas (Centrica) and Scottish & Southern Electric as the only British companies of the big six. I'd rather it go to an experienced French or Japanese company, since long ago we lost the ability to do it ourselves.

It's still not a done deal as the reactors still need planning and approval.

I was thinking in terms of a large oil company or nationalisation actually

Nuclear energy could well be our future and it troubles me to see all the eggs in the basket owned by companies with potential foreign interests at heart.

It was the British forces you served in wasn't it?

[Herr-Berbunch]

Originally Posted by jimbuna

I was thinking in terms of a large oil company or nationalisation actually

Nuclear energy could well be our future and it troubles me to see all the eggs in the basket owned by companies with potential foreign interests at heart.

It was the British forces you served in wasn't it?

Yes, it was. But this country is too far gone to build from scratch with nationalisation or an inexperienced (in nuclear) oil company. We need electricity generated, and we need it soon, so what would effectively amount to an off-the-shelf system from Japan - where no doubt construction of such would be better after recent events - gets my vote. It's not going to be built by them (that'll probably be Italian workers ) and should provide many, many jobs both short and long term.

[Jimbuna]

Originally Posted by Herr-Berbunch

We need electricity generated, and we need it soon, so what would effectively amount to an off-the-shelf system from Japan -

But RWE and E.On put the business up for sale in March after Germany's move to abandon nuclear power in the wake of Japan's Fukushima disaster.

Just a little tease

[Herr-Berbunch]

Oh, Jim - you!

[Platapus]

I wish more foreign countries would come to the United States and build stuff they can't take with them, employ American workers, and pay American taxes.....oh and provide the United States with electrical power? Even better.

UK, I am envious.

[Jimbuna]

Problem being...we usually already have the infrastructure in the UK but sell it on to foreign based companies to develop (on occasion) and profit from.

As for taxes, the largest of the companies seldom pay any taxes, they syphon there UK profits off to their headquarters abroad and write off debts they've accumulated elsewhere.

[Platapus]

Originally Posted by jimbuna

Problem being...we usually already have the infrastructure in the UK but sell it on to foreign based companies to develop (on occasion) and profit from.

As for taxes, the largest of the companies seldom pay any taxes, they syphon there UK profits off to their headquarters abroad and write off debts they've accumulated elsewhere.

Unfortunately, same here.... same here.

I wish more foreign countries would come to the United States and build stuff they can't take with them, employ American workers, and pay American taxes.....oh and provide the United States with electrical power? Even better.

UK, I am envious.

Platapus. As Jim already mentioned the foriegn companies not paying any tax and the infrastructure already existing lets add the things they can't take home. In this case decommisionng costs and the storage of waste.

Can't be much left in the cupboard now...surely

Whatever happened to the plan of selling the national parks to a chinese quarrying company?
Tell George its time to sell sell sell everything maggie didn't give away for a song.

[STEED]

UK is up for sale people.