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Any other business

An energy crisis is looming – but ministers are distracted by Brexit

19 January 2019

9:00 AM

19 January 2019

9:00 AM

Transfixed as you were by Westminster chaos, did you also spot the news that Hitachi is about to cancel or suspend construction of the Wylfa nuclear power station in North Wales? The Japanese engineering giant has evidently failed to reach agreement on a guaranteed electricity price and terms for a UK government stake in the project; its decision follows that of its compatriot Toshiba, which in November pulled out of building a nuclear station at Moorside in Cumbria, largely because it disliked the Treasury’s favoured financing model that loads risk on to the contractor.

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