Hitachi: 'No decision made on future of UK nuclear power plant'

Following a report halting construction, Hitachi has revealed “no formal decision” has been made on the future of a UK nuclear power plant.

The Nikkei Asian Review reported Hitachi’s firm’s board would be likely to decide to suspend all work on the Wylfa Newydd plant next week (commencing January 14).

Shares in the Japanese company jumped eight per cent following the report. In December, Hitachi was adamant the plant’s construction would go ahead.

However, the firm has recently said suspension of the project is still an option.

A statement by Hitachi reads: “No formal decision has been made in this regard currently, while Hitachi has been assessing the Horizon Project including its potential suspension and related financial impacts in terms of economic rationality as a private company.”

The UK government had been in formal negotiations with the Japanese firm over the project since June.

Hitachi announced its agreement to take over the Horizon project in 2012.