Essen / Düsseldorf, 05 November 2009This pressinformation is more than two years old

E.ON UK, RWE npower nuclear joint venture fully established

  • Potential for more than £15bn investment, more than 11,000 jobs

  • Company to be called Horizon Nuclear Power Ltd

RWE npower and E.ON UK have today (5 November 2009) announced further details of their nuclear joint venture, which is to be called Horizon Nuclear Power.

The company will begin operation from 16 November working from new headquarters near Gloucester.

The 50:50 joint venture was created in January and aims to develop around 6,000MW of new nuclear capacity in the UK – enough to power a city the size of Greater London – by 2025. The first reactor is expected to come online around 2020.

Earlier this year the company secured development land at Wylfa on Anglesey and Oldbury-on-Severn in South Gloucestershire. Its programme of new nuclear power stations could involve more than £15bn in investment and create around 11,000 jobs, including around 800 permanent jobs at each site and up to 10,000 during construction.

Chief Operating Officer Alan Raymant said: “Nuclear energy will form a key part of Britain’s low carbon future and Horizon Nuclear Power will play a key role in delivering new nuclear stations, helping achieve the UK’s stretching environmental targets and keeping energy prices affordable over the long term.”

The company is also progressing its competitive tender process with Areva and Westinghouse for the selection of a reactor technology.

“Choosing our reactor supplier is a significant milestone and the technical and commercial evaluation of our options is well underway,” said Alan. “A team of nuclear experts from across RWE and E.ON has been put in place to support this process, with the aim of selecting a preferred supplier for exclusive negotiation early in the new year.”

The company will also look to establish local offices close to its development sites at Wylfa and Oldbury. “We’ve met a lot of local people and groups around our sites at Oldbury and Wylfa and we’ll maintain an open, no-surprises approach,” said Alan.

“Technical investigations are progressing well and we’ll shortly be engaging further with local organisations and the public on the detailed studies required to prepare consent applications.

“The imminent publication of the Government’s Nuclear National Policy Statement is also a key step and we look forward to playing our part in the consultation process that follows. It's vital that the Government sticks to the timeline for establishing the regulatory and consenting framework for new nuclear if we are to deliver what the country needs in terms of reliable, low carbon electricity.”

Horizon Nuclear Power will have an initial focus on consenting and constructing new nuclear power stations which will have a 60 year lifetime.

E.ON and RWE have interests in 23 nuclear reactors in Germany and Sweden, including two jointly owned reactors at Gundremmingen and one at Lingen.

Please contact our Investor Relations Team with any questions that you may have:

RWE Aktiengesellschaft
Investor Relations
Altenessener Straße 27
45141 Essen

T +49 (0) 201-5179-3112
RWE Aktiengesellschaft
Investor Relations
London Office
c/o RWE Supply & Trading
60 Threadneedle Street
London EC2R 8HP
United Kingdom
T +44 (0) 20 7015 5459
: This pressinformation is more than two years old