Plans for a new nuclear power station in Cumbria have been scrapped. The Japanese conglomerate Toshiba announced it was winding up the UK unit behind the project.
Toshiba said it would take a 18.8bn Japanese yen (£125m) hit from closing its NuGeneration subsidiary, which had already been cut to a skeleton staff,after it failed to find a buyer for the scheme.
The decision represents a major blow to the government’s ambitions for new nuclear and leaves a huge hole in energy policy. The plant would have provided around 7% of UK electricity.
“This is a huge disappointment and a crushing blow to hopes of a revival of the UK nuclear energy industry,” said Tim Yeo, the chair of pro-nuclear lobby group New Nuclear Watch Institute and a former Tory MP.