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To ask the Secretary of State for Energy and Climate Change whether he has undertaken any work to provide current Magnox employees opportunities to engage in nuclear new build.

Asked by

Baroness Clark of Kilwinning (Labour)

Answering body

Energy and Climate Change

Type

Written questions

Status

Answered

Date

24 February 2014

Reference

188565; 576 cc139-140W

House

House of Commons

Magnox Electric

To ask the Secretary of State for Energy and Climate Change what the cost to the public purse was of dividing Magnox Electric into Magnox North Ltd and Magnox South Ltd.

Asked by

Richard Graham (Conservative)

Answering body

Department of Energy and Climate Change

Type

Written questions

Status

Answered

Date

11 October 2010

Reference

15955; 516 c105W

House

House of Commons

Magnox Electric

To ask the Secretary of State for Energy and Climate Change what discussions his Department has had with Magnox North Ltd and Magnox South Ltd on the formation of a single site licence company; and by what date he expects legal integration of the two to have been achieved.

Asked by

Richard Graham (Conservative)

Answering body

Department of Energy and Climate Change

Type

Written questions

Status

Answered

Date

11 October 2010

Reference

15952; 516 c105W

House

House of Commons

Energy: Magnox Decommissioning

asked Her Majesty's Government:Whether the decision to award the contract for the decommissioning of all 10 Magnox nuclear sites, with 22 reactors, was approved by the Nuclear Decommissioning Authority, by the Department of Trade and Industry, and by the relevant regulators; and, if so, how such approval was given and...

Asked by

Lord Jenkin of Roding (Conservative)

Type

Written questions

Status

Answered

Date

20 June 2007

Reference

4229; 693 c55WA

House

House of Lords

Energy: Magnox Decommissioning

asked Her Majesty's Government:Why it was thought right to award the contract for the decommissioning of all 10 Magnox nuclear sites, with 22 reactors, to a single company, Energy Solutions of Salt Lake City, Utah; what is the estimated number of years for which this contract will run; and whether...

Asked by

Lord Jenkin of Roding (Conservative)

Type

Written questions

Status

Answered

Date

20 June 2007

Reference

4228; 693 c54-5WA

House

House of Lords

Deposited Paper HDEP 2004/864

Deposited by

Department of Trade and Industry

Type

Deposited papers

Date

4 January 2005

Reference

HDEP 2004/864

House

House of Lords

Written Statement on the outcome of the BNFL Strategy Review

Written Statement on the outcome of the BNFL Strategy Review . (Inc fact that further details of the review outcome are in the Library Dep 03/2588).

Member

Patricia Hewitt (Labour)

Department

Department of Trade and Industry

Type

Written statements

Date

11 December 2003

Reference

415 c93-5WS;415 c91-3WS

House

House of Commons

Deposited Paper DEP 02/2385

Deposited by

Department of Trade and Industry

Type

Annual reports; Deposited papers

Date

2 December 2002

Reference

DEP 02/2385

House

House of Commons

Dept of Trade and Industry

To ask the Secretary of State for Trade and Industry, pursuant to her Answer of 5th December 2001, 376 c302W, what was the net increase in BNFL's liabilities resulting from the acquisition of Magnox Electric. - Inc figure.

Asked by

Nick Gibb (Conservative)

Answering body

Department of Trade and Industry

Type

Written questions

Status

Answered

Date

15 January 2002

Reference

25925; 378 c153W;378 c151W

House

House of Commons

Dept of Trade and Industry

To ask the Secretary of State for Trade and Industry, what annual operational cost savings have been achieved in (a) electricity generation and (b) reprocessing as a result of the integration of BNFL and Magnox Electric.

Asked by

Nick Gibb (Conservative)

Answering body

Department of Trade and Industry

Type

Written questions

Status

Answered

Date

10 December 2001

Reference

376 c656W; 19254

House

House of Commons

Dept of Trade and Industry

To ask the Secretary of State for Trade and Industry, what savings have been made in Magnox-related liability estimates since the Government transferred its shareholding in Magnox Electric to BNFL. - Inc figure.

Asked by

Nick Gibb (Conservative)

Answering body

Department of Trade and Industry

Type

Written questions

Status

Answered

Date

5 December 2001

Reference

376 c302W; 19253

House

House of Commons

Dept of Trade and Industry

To ask the Secretary of State for Trade and Industry, if he will estimate the value of land and property in (i) Scotland, (ii) the United Kingdom, (iii) overseas and (iv) total within the responsibility of (a) Magnox Electric plc, (b) British Nuclear Fuels plc, (c) the Post Office, (d)...

Asked by

Margaret Ewing (Scottish National Party)

Answering body

Department of Trade and Industry

Type

Written questions

Status

Answered

Date

30 November 1999

Reference

99814; 340 c150W

House

House of Commons

Energy policy. Minutes of evidence 11 February 1998. (morning sitting). (Reprinted in HC 471).

Type

House of Commons papers; Select Committee oral evidence; Parliamentary committees

Committee

Trade and Industry Committee

Notes

Received 24.03.98; Received 09.06.98

Date

11 February 1998

Reference

HC 471-iii 1997/98

House

House of Commons

Dept of Trade and Industry

To ask the President of the Board of Trade, pursuant to her Answer to the honourable Member for Truro and St. Austell of 10th June, Official Report, 295 c415W, on radioactive wastes, what progress has been made with the negotiations between BNFL and ENEL on the return of reprocessed Magnox...

Asked by

Llew Smith (Labour)

Answering body

Department of Trade and Industry

Type

Written questions

Status

Answered

Date

5 February 1998

Reference

305 c787W; 27245

House

House of Commons

Deposited Paper Dep/3 5954

Deposited by

Department of Trade and Industry

Type

Deposited papers

Date

4 February 1998

Reference

Dep/3 5954

House

House of Commons

Dept of Trade and Industry

Statement on the transfer of the Government's shareholding in Magnox Electric to British Nuclear Fuels has yet been effected (pursuant to his answer of 22 December 1997 to hon. Member for Halton (Mr Twigg) Official Report 303 c514-6W). - Includes fact that copy of financial undertaking which the Govt have...

Asked by

Russell Brown (Labour)

Answering body

Department of Trade and Industry

Type

Written questions

Status

Answered

Date

3 February 1998

Reference

27868; 305 c607-8W;305 c607W

House

House of Commons

Dept of Trade and Industry

To ask the President of the Board of Trade, what quantities of spent nuclear fuel, from which (a) countries and (b) utilities, is stockpiled at Sellafield awaiting reprocessing; and what information she has received from British Nuclear Fuels in regard to when it will be reprocessed. - Inc figures.

Asked by

Llew Smith (Labour)

Answering body

Department of Trade and Industry

Type

Written questions

Status

Answered

Date

29 January 1998

Reference

25062; 305 c356W

House

House of Commons

Deposited Paper Dep/3 5831

Deposited by

Department of Trade and Industry

Type

Deposited papers

Date

6 January 1998

Reference

Dep/3 5831

House

House of Commons

Trade and Industry departmental minute dated 22 December 1997 concerning a contingent liability consequent upon the merger of Magnox Electric plc and British Nuclear Fuels plc.

Type

Unprinted command papers

Date

22 December 1997

House

House of Commons

Dept of Trade and Industry

Statement on what progress has been made on the plans to merge Magnox Electric with British Nuclear Fuels. (In Library Dep 3/5831).

Asked by

Derek Twigg (Labour)

Answering body

Department of Trade and Industry

Type

Written questions

Status

Answered

Tabled on

18 December 1997

For answer on

22 December 1997

Answered on

22 December 1997

Mr. Derek Twigg: To ask the President of the Board of Trade what progress has been made on the plans to merge Magnox Electric with British Nuclear Fuels; and if she will make a statement. [22363] Mr. Battle: I am pleased to report that, subject to Parliamentary clearance of certain proposed financial arrangements, we expect to effect the first stage of the merger--namely the transfer of the Government's shareholding in Magnox Electric to BNFL--early in the New Year. Full integration of the combined businesses of the two companies is expected to be completed about 12 months after the share transfer, subject to the companies meeting the requirements of the relevant regulators. Safety will continue to be the companies' overriding concern. The merger will not change that. Before full integration can take place, BNFL will need to have obtained new nuclear site licences, new radioactive discharge authorisations and a revised electricity generation licence to replace those currently held by Magnox Electric. The independent nuclear safety, environmental and electricity regulating authorities have been consulted about the proposed integration arrangements and have indicated that they are prepared to consider applications on the basis of those arrangements. The merger will create an enlarged, integrated and strong BNFL able, for the first time, to manage all aspects of the magnox business as a whole. Under existing arrangements, a substantial part of Magnox Electric's costs relate to fuel, reprocessing and waste management services provided by BNFL. A principal aim of the merger is to bring together the financial and management responsibilities for these processes to create better incentives for securing cost reductions. Bringing together magnox generation and the supporting fuel cycle services under one management will also mean the business can be managed as a whole and with greater efficiency. The merger should therefore accelerate the cost reduction and business improvement programmes which each of the companies has been separately pursuing. It will remove the barriers which exist between Magnox as customer and BNFL as supplier bringing greater transparency to the underlying economics of the business and providing opportunities to combine the technical and commercial skills which currently exist within the two companies. I have taken steps, and know that many people are concerned, to ensure that the full costs of the companies' nuclear liabilities will be met. I am pleased to announce that the combined group will establish an internal dedicated Liabilities Fund consisting of cash and realisable assets which will ensure that the full costs of all future liabilities of Magnox and BNFL can be met as they fall due. I am sure that this development coupled with the greater transparency that this will entail will be widely welcomed. In examining how to effect the merger a great deal of attention was paid to the financial arrangements. When the nuclear generating industry was re-organised at the end of March 1996, Magnox Electric received an undertaking in exchange for and equivalent in value to the net book value of assets transferred out of the company and the liabilities it took on from Scottish Nuclear. The undertaking provides for the Government to make payments to enable Magnox to meet its future financial obligations. The principal value of that undertaking at March 1996 was £3.7 billion. That value is increased annually by 4.5 per cent in real terms and is projected to have a value of £4.3 billion in March 1998. We have carried out with Magnox Electric and BNFL a thorough review of the arrangements to apply to the combined organisation. In particular, we needed to get an up to date assessment of the forecast cost of discharging liabilities and then determine what level of Government undertaking would be appropriate to the combined organisation. The conclusion is that the principal sum of a new undertaking (to replace the existing undertaking to Magnox Electric) should be set at £3.7 billion as at 31 March 1998, but that it would be appropriate to apply the same escalation terms as in the existing undertaking to Magnox Electric. This represents an immediate reduction of some £600 million in the Government's current liability. The new arrangements will also bring to an end assurances given by the Government in 1990 and reaffirmed each year since then which give Magnox Electric added comfort that the Government will, if necessary, help them to meet the costs of their long term nuclear liabilities. Magnox Electric has successfully reduced the large deficit for nuclear liabilities in its balance sheet and projects that without the benefits of integration the gap would have reduced to £0.5 billion by the end of the current financial year. Taking into account the benefits which are expected to flow from the merger with BNFL, all three parties have agreed that there is no need for the Government assurances to continue beyond share transfer. Given the length of time which these arrangements are to cover, there is provision for the value of the proposed new undertaking to be subject to limited review every five years or earlier if Government and BNFL agree. We expect the combined group to reduce substantially the costs of discharging magnox liabilities through efficiency savings. In recognition of this, a formal mechanism will be put in place under which Government and the combined business will share the benefit of the first £1.6 billion (at 31 March 1998 prices) of reductions in the company's magnox-related nuclear provisions. This will allow the undertaking to be adjusted downwards by up to £0.8 billion (at the same base price). The majority of these benefits are expected to accrue within the first ten years after the merger. In summary, the merger will result in a robust and viable group, better placed and better incentivised to manage the magnox business as a whole and to secure savings for the taxpayer. At the same time it will bring the establishment of a dedicated, internal fund to meet the companies' nuclear liabilities; there will be an immediate reduction of some £1.1 billion in the Government's current liability, and incentives will be introduced for the combined business to make further substantial savings which the Government will share. The merger has the full support of the Boards of both Magnox and BNFL. My Department is today laying before this House a Departmental Minute about the new financial undertaking which is proposed to be given to the integrated group. A copy of that Minute together with a Briefing Note, which provides more detailed information on the proposed integration of the two companies, is being placed in the libraries of both Houses.

Date

22 December 1997

Reference

22363; 303 c514-6W;303 c513-5W

House

House of Commons

Librarians' tools

Type

House

Session

Year

Department

Member

Primary member

Answering member

Legislative stage

Legislation

Subject

Publisher