{"id":12088,"date":"2017-04-11T17:00:28","date_gmt":"2017-04-11T16:00:28","guid":{"rendered":"http:\/\/unitelive.org\/?p=12088"},"modified":"2017-04-11T17:00:28","modified_gmt":"2017-04-11T16:00:28","slug":"a-future-more-uncertain","status":"publish","type":"post","link":"https:\/\/unitelive.test.igniteamt.com\/?p=12088","title":{"rendered":"A future more uncertain?"},"content":{"rendered":"
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Serious concerns have been raised again over the future of the Moorside nuclear power station in Cumbria, as it emerged today that its soon-to-be sole investor Toshiba (April 11) is on the brink of collapse.<\/p>\n

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In a financial update twice-delayed that has not yet been approved by auditors, Toshiba revealed astounding losses of nearly \u00c2\u01414bn in the nine months to December last year \u00e2\u20ac\u201c it\u00e2\u20ac\u2122s now possible that the company could be delisted from the Tokyo Stock Exchange.<\/p>\n

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The company itself said in a statement that its future viability is in doubt.<\/p>\n

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\u00e2\u20ac\u015b..substantial doubt about the Company\u00e2\u20ac\u2122s ability to continue as a going concern exists as of the filing date of the quarterly report,\u00e2\u20ac\u0165 the statement read<\/a>.<\/p>\n

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Just last week, the only other investor in the Moorside project, the French firm ENGIE, pulled out of the NuGen consortium and sold its 40 per cent stake in the nuclear power station to Toshiba.<\/p>\n

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Unite raised concerns<\/a> then that ENGIE\u00e2\u20ac\u2122s decision to pull out could lead to unsustainable delays, just after the Hinkley Point C project experienced years of its own delays \u00e2\u20ac\u201d it was only give the green light last year.<\/p>\n

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Now, says Unite national officer Kevin Coyne, the future is even more uncertain and he reiterated Unite\u00e2\u20ac\u2122s call for public investment in major infrastructure projects.<\/p>\n

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\u00e2\u20ac\u015bThe latest news about the very poor financial health of Toshiba raises further concerns about its involvement in the construction of the Moorside nuclear power station in Cumbria,\u00e2\u20ac\u0165 he said.<\/p>\n

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\u00e2\u20ac\u015bThis follows hard on the heels of the Toshiba-owned Westinghouse Electric Company, due to supply the three AP1000 reactors for Moorside, applying for Chapter 11 bankruptcy protection in the US.\u00e2\u20ac\u0165<\/p>\n

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Last week, Coyne noted that the Springfields nuclear fuel manufacturing facility, near Preston, is also operated by Westinghouse and is in line to supply the fuel for Moorside.<\/p>\n

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\u00e2\u20ac\u0098Top priority\u00e2\u20ac\u2122<\/strong><\/em><\/p>\n

\u00e2\u20ac\u015bUnite has a 1,000 members at Springfields and their future employment prospects are a top priority for the union,\u00e2\u20ac\u0165 he said.<\/p>\n

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\u00e2\u20ac\u015bUnite renews its call to the business secretary Greg Clark to step in and pledge public investment to ensure that the project goes ahead on schedule, as Toshiba is in deep financial trouble and has a big question mark over its future,\u00e2\u20ac\u0165 Coyne added.<\/p>\n

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\u00e2\u20ac\u015bThe importance of Moorside can\u00e2\u20ac\u2122t be underestimated as it is expected to generate 20,000 highly skilled jobs during its construction and when it is up-and-running \u00e2\u20ac\u201c and also supply seven per cent of the UK\u00e2\u20ac\u2122s electricity needs from 2025.<\/p>\n

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\u00e2\u20ac\u015bUnite has repeatedly warned the government that \u00e2\u20ac\u0098the lights could go out\u00e2\u20ac\u2122 in the future without a coherent, joined-up energy policy.\u00e2\u20ac\u0165<\/p>\n

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Serious concerns have been raised again over the future of the Moorside nuclear power station in Cumbria, as it emerged today that its soon-to-be sole investor Toshiba (April 11) is on the brink of collapse.     In a financial update twice-delayed that has not yet been approved by auditors, Toshiba revealed astounding losses of […]<\/p>\n","protected":false},"author":1,"featured_media":12025,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[54,127,683],"wps_subtitle":"Worries over power station future","_links":{"self":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts\/12088"}],"collection":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12088"}],"version-history":[{"count":1,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts\/12088\/revisions"}],"predecessor-version":[{"id":12090,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts\/12088\/revisions\/12090"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/media\/12025"}],"wp:attachment":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}