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Westinghouse Welcomes European Commission Decision on Hinkley Point Nuclear Plant State Aid

BRUSSELS, October 8, 2014 -- Westinghouse Electric Company, a leading voice for the nuclear industry in Europe and worldwide, welcomes the European Commission’s conclusion, following an in-depth investigation, that the U.K.’s plan to support the construction and operation of a new nuclear power plant at Hinkley Point are consistent with European Union (EU) state aid rules relating to similar low-carbon projects. In particular, Westinghouse recognizes the important precedent for not just the U.K. but for all other EU nuclear projects. Westinghouse welcomes the opportunity for nuclear energy to compete on a level playing field with other low-carbon energy technologies with high upfront capital costs in the EU.     

 

The EU has today recognized the importance of nuclear’s contribution to secure, affordable and low-carbon energy supply. Any decision taken regarding Europe’s energy mix needs to consider the strong impact nuclear has on energy security, climate objectives and prices for both consumers and industry.

 

Westinghouse Electric Company, a group company of Toshiba Corporation (TKY:6502), is the world's pioneering nuclear energy company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Westinghouse supplied the world's first pressurized water reactor in 1957 in Shippingport, Pa., U.S. Today, Westinghouse technology is the basis for approximately one-half of the world's operating nuclear plants, including more than 50 percent of those in Europe.

 
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