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If built, the Hinkley Point C nuclear reactor may start producing electricity later than stations developed by Horizon Nuclear Power at Wylfa and Oldbury, the IMechE’s energy expert has said.
Dr Tim Fox, head of energy at the institution, said that the nuclear industry negotiating a “strike price,” or level of subsidy, with the government for new build did not guarantee that it would be straightforward for EDF, the utility planning to build Hinkley Point C, to attract the investment it needs to start construction.
He added that it was “entirely possible” that Hitachi, which took over Horizon Nuclear Power last year, and intends to build its Advanced Boiling Water Reactor (ABWR) at Wylfa and Oldbury, could be generating electricity from new nuclear reactors before EDF. The French utility hopes to build Areva’s European Pressurised Water Reactor (EPR) in Britain.
Fox said that the conclusion of strike price negotiations would “act as a green light” for Horizon to move forward, perhaps at a greater speed than EDF, which could struggle to attract the necessary levels of investment. Fox highlighted the problems that Areva is experiencing in building the EPR in Normandy and Finland, where the projects are behind schedule and over budget, and signs that the company may struggle to win funds for work in the UK.
By contrast, he said, Hitachi might have a more readily available supply of credit. Although the company had yet to take the ABWR through the UK’s tortuous generic design assessment, the fact that eight ABWRs had already been built across the world would be attractive to investors and in all likelihood speed up the licensing process.
More than 400 companies hoping to become suppliers to the programme to build a new nuclear power station at Wylfa on the Isle of Anglesey attended business events organised by developer Horizon last month. “The engagement with the local community by Horizon is impressive,” Fox said.
The first reactor at Wylfa is expected to be operational between 2020 and 2025, with work starting at Oldbury soon after.
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