Russia’s state-owned nuclear holding company Rosatom mulls over plans to purchase almost £15 million stake in the Horizon project which involves the building of two atomic power plants in Wales and Gloucestershire, reported Russia Today.
Russia’s decision to take part in the Horizon project comes as two German companies, RWE and EON, have decided to sell their share in the project due to cost-escalation and a payback period which took longer than expected.
Earlier last month, a research study carried out by investment bank Liberum Capital revealed that energy bills in Britain would rise by 70% to £2,200 a year by 2020.
The British people have reduced their consumption of gas and electricity by 11.3% between 2001 and 2011. Nevertheless, energy bills have risen by 23.5%.
Being one of the European Union’s biggest greenhouse gas emitters, Britain should close half of its coal-fired power stations by 2015. Coal-fired plants in Britain generate 40% of the energy produced in the country.
Meanwhile, Britain remains steadfast in hindering Iran’s peaceful nuclear program, accusing Iran of pursuing a military-oriented nuclear program.
This comes as Iran, a signatory to the Non Proliferation Treaty (NPT), has repeatedly announced that its nuclear program is for peaceful purposes and the International Atomic Energy Agency (IAEA) has not been able to come up with any evidence proving otherwise.