• 6 minutes Can the World Survive without Saudi Oil?
  • 10 minutes Saudis Threaten Retaliation If Sanctions are Imposed
  • 15 minutes Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 1 min U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 3 hours Saudis Pull Hyperloop Funding As Branson Temporarily Cuts Ties With The Kingdom
  • 10 hours Judge Approves SEC Settlement With Tesla, Musk
  • 2 hours WTI @ $75.75, headed for $64 - 67
  • 4 hours How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 5 hours UN Report Suggests USD $240 Per Gallon Gasoline Tax to Fight Global Warming
  • 7 hours Iranian Sanctions - What Are The Facts?
  • 8 hours EU to Splash Billions on Battery Factories
  • 5 hours China Thirsty for Canadian Crude
  • 9 hours Porsche Says That it ‘Enters the Electric Era With The New Taycan’
  • 10 hours Gold price on a rise...
  • 11 hours Saudi Crown Prince to Trump: We've Replaced All Iran's Lost Oil
  • 5 hours Shell, partners approve huge $31 billion LNG Canada project. How long till Canadian Federal government Environmentalates it into the ground?

U.K. MOX Plant Closure to Cost Japanese Utilities Billions

The closure of a plutonium-uranium mixed oxide, or MOX, fuel plant in Britain is set to cost Japan’s nuclear power industry billions of yen in revenue, according to industry insiders.
Japan’s 10 utilities generating nuclear electrical power jointly covered the expenses for renovating the Sellafield-based plant, owned by the British government-affiliated Nuclear Decommissioning Authority, but the British authorities decided in the wake of the 11 March nuclear catastrophe in Fukushima that Japan would no longer be interested in purchasing British MOX nuclear fuel and has decided to close the processing facility, The Japan Times newspaper reported.
The decision has not been without controversy in Britain as earlier this month the Royal Society recommended that the British government should consider building a new mixed-oxide fuel reprocessing facility to reuse the country's huge stockpile of separated plutonium as part of a long-term nuclear strategy.
Royal Society working group chairman and British Atomic Energy Authority head Roger Cashmore said, "This is the only way of dealing with it which is reliable."
British Energy and Climate Minister Chris Huhne said that Britain has approximately 6,900 cubic meters of high-level nuclear waste which the British government currently spends roughly $31.6 billion annually to manage, telling reporters, "My department has just finished consulting on the long-term management of our plutonium stockpiles, and will publish the results shortly."

By. Charles Kennedy, Deputy Editor OilPrice.com

Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News