The director of the electricity transmission owner at National Grid has said he is “sure” that the Moorside new nuclear plant in Cumbria will go ahead, despite big question marks over financial backing for its construction.
“I personally talk a lot to Tom Sampson, the CEO of NuGen and I am sure that project will continue once they get new construction backers,” said David Wright.
Nevertheless, National Grid recently announced that it has decided to mothball its £2.8bn project to provide a transmission link for Moorside, given uncertainty over the future of NuGen’s now sole shareholder, Toshiba.
Wright stood by this “tough” decision saying that “It’s not right for us to carry on spending money – consumers’ money as well as National Grid’s shareholders money,” on the project while struggling Toshiba undertakes at “strategic review”.
“We’ve had to take the significant decision to stop that major project and to put it on pause,” Wright conceded.
“That has a huge, huge impact. Not only in the communities which we serve and the extra uncertainties that it brings to them, but also – we had a project team of about 150 people who worked and put their lives and souls into how to do that in the very best way.”
Wright explained how “over night” National Grid has “just had to relocate and find new roles for them in the organisation”.
The transmission chief made his comments during a question and answer session at the Utility Week Live Keynote conference in Birmingham where he spoke about the importance of organisational flexibility in the face of a changing and uncertain industry environment.
Summing up his outlook, Wright said: “That project will come back, as I say I an sure, but you have got to be flexible, you have got to be agile, you can’t hold on to how the world was yesterday.
“That is the key lesson to be learned here. Make the big, brave tough calls. And very much listen to your customers.”
Wright spoke alongside fellow utilities executives, Basil Scarsella, chief executive of UK Power Networks, and Mel Karam, chief executive of Bristol Water.