The Nuclear Decommissioning Authority

 

Springfields
Salwick
Preston
PR4 0XJ

Tel. 01772 762000

Since the 1940s, Springfields has manufactured fuel products for the UK’s nuclear power stations and for international customers. In addition to fuel manufacture it is also undertaking various decommissioning activities.

In March 2010, an agreement was reached between NDA and Westinghouse to transfer the commercial operations and workforce of Springfields Fuels Limited to Westinghouse, who have been managing the site successfully for five years under contract to the NDA. Under the agreement, the commercial business was transferred and the site was leased on a long-term basis. This means that NDA retains responsibility for the historic nuclear liabilities whilst Westinghouse will have the commercial freedom to pursue new fuel manufacturing business.

In addition to providing an income stream to the NDA, the agreement defers site closure and removed significant future costs from decommissioning and residues processing.

Overview

 * The costs of discharging the nuclear liability will be incurred over a significant period of time. To take account of the time value of money, the costs are "discounted" back to a present value. Effectively this is the amount that would need to be invested today, at a set rate of interest (the discount rate) in order to pay for the liability in the future as it falls due.