KEPCO selected as preferred bidder for Moorside nuclear project

Korea Electric Power, or Kepco, said on Thursday its President Cho Hwan-eik would resign tomorrow, with the news coming a day after the state-owned utility was awarded preferential negotiation rights for the purchase of Toshiba's nuclear power business in the United Kingdom.

The statement added: "Kepco is scheduled to continue talks with Toshiba alongside engagement on the pre-feasibility study from the Korean government before closing the transaction in early 2018".

KEPCO said it is set to hold negotiations with Toshiba for months to work out details in buying Toshiba's stake in the NuGen consortium. The KEPCO is expecting that it will be able to sign a share acquisition contract in the first half of next year.

South Korea's state utility Korea Electric Power Corp (KEPCO) said on Wednesday that it had been picked as a preferred bidder for Toshiba's NuGen nuclear project in Britain, throwing the troubled project a lifeline. Toshiba acquired Westinghouse Electric Company in 2006 for US$5.4 billion, but recently made a decision to withdraw from the nuclear power industry after incurring losses.

Thursday forecast: Coldest day of the season so far
As that front looks to be fairly far off the coast, most of the moisture should stay out over the ocean as well. Sunshine should be more plentiful Sunday but that is of little effect as even colder air surges into the area.

KEPCO will submit its April 1400 reactor to the British nuclear regulators for review in early 2018 with a goal of generating electricity by the late 2020s.

At present, Toshiba owns 60% of the NuGen consortium, which is leading the Moorside Nuclear Power Project.

KEPCO plans to use its own April 1400 reactor design, the same that was used in a massive project Korea won in the UAE.

The Moorside Project is characterized by the operator being in charge of financing for the construction and then retrieving its investment by selling electricity after the completion of the construction.

Related Articles

  • H&R Block (HRB) Announces Earnings Results, Beats Expectations By $0.01 EPS

    H&R Block, Inc. (NYSE: HRB ) is 9.7% above its 200-day moving average, providing a measure of resistance for long positions. Perhaps, that suggests something about why 88.92% of the outstanding share supply is held by institutional investors.
    Amazon Prime Video Lands On Apple TV

    Amazon Prime Video Lands On Apple TV

    Amazon Prime Video is an iOS app that enables you to watch content from your Amazon subscription on your iPad or iPhone. According to the company, Amazon's implementation of YouTube blocked what Google considered "critical features".
    Rolls-Royce suffers fresh wave of troubles with Dreamliner engines

    Rolls-Royce suffers fresh wave of troubles with Dreamliner engines

    The investigation into that incident recommended that Rolls-Royce review the design of the intermediate pressure turbines.
  • Snow and ice warning issued for north-west

    Snow and ice warning issued for north-west

    Wintry showers will be widespread overnight and frequent in the north with accumulations of snow over lower ground. Met Office meteorologist John West said: "Storm Caroline is well on its way across northern parts of the UK".
    Auckland City go down in opener

    Auckland City go down in opener

    Striker Ali Mabkhout ran at the Navy Blues for the first time and looked to be closed down by defender Angel Berlanga. Auckland City was formed in 2004 out of Central United when a new national league system was created in New Zealand.
    Raila will be charged with high treason, death - AG Muigai

    Raila will be charged with high treason, death - AG Muigai

    Mr Odinga has insisted that he won the August 8 presidential poll and accuses the Independent Electoral and Boundaries Commission (IEBC) of rigging him out.
  • SuperTrend Spotted Above Stock Price for Activision Blizzard (ATVI) — Signal Focus

    About Activision Blizzard Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. Earnings Per Share (EPS) is the earnings made by a company divided by their number of shares. (NASDAQ: ATVI ) or 600 shares.
    Apple's going back to metal for 2018 LCD iPhone

    Apple's going back to metal for 2018 LCD iPhone

    The iPhone 7 came in five different color options, including Rose Gold, Gold, Silver, Jet Black, and Matte Black. This of course explains why the device is rumored to be a low-cost entry built for low-end and midrange markets.

    British Govt. must apologise for Jallianwala Bagh massacre: London Mayor Sadiq Khan

    Mr Khan was also presented with a Siropa (robe of honour) by the officials of the Shiromani Gurdwara Parbandhak Committee (SGPC). The Mayor of London, Sadiq Khan, said, "The Jallianwala Bagh massacre is one of the most horrific events in Indian history".
  • August Ames dies dead at 23 - How did porn star die?

    August Ames dies dead at 23 - How did porn star die?

    This former porn star has revealed her secret to landing a wealthy older husband - becoming a Buddhist and praying. She refused to apologise and instead said she "loves the gay community".
    Audio found of Corey Feldman naming alleged Hollywood paedophiles in 1993

    Audio found of Corey Feldman naming alleged Hollywood paedophiles in 1993

    Feldman is making regarding an investigation in 1993", said the Sheriff's Office. He confirmed Jon Grissom as one of his abusers while on " The Dr.
    Airtel launches Intex Aqua Lions N1 under its 'Mera Pehla Smartphone' series

    Airtel launches Intex Aqua Lions N1 under its 'Mera Pehla Smartphone' series

    If the customers do not want to recharge with Rs. 169 plan, they have the flexibility of doing recharges of any denomination. Shares of BHARTI AIRTEL LTD. was last trading in BSE at Rs.483.95 as compared to the previous close of Rs. 490.5.