INS contributes £458m towards nuclear clean up
The Nuclear Decommissioning Authority (NDA) has today published on its website its Annual Report and Accounts 2009/10, which can be viewed via this link>>>
International Nuclear Services (INS), the commercial agent of the NDA, has today also published its Annual Review for the same period, which shows it delivered £458 million of revenue in the last financial year, £19 million above target. This contribution is included in the NDA’s Annual Report and Accounts and is factored in to its financial statements.
INS is wholly-owned by the NDA and its role is to manage existing contracts that the NDA has with international utility customers and to generate further revenue from the NDA’s commercial assets. Revenue generated for the NDA contributes to reducing the tax payer funding required for the UK nuclear decommissioning programme.
INS is also the world’s leading global transporter of nuclear materials shipping used fuel, waste and new fuel around the world for its customers.
INS’ Annual Review covers a year that also included the following highlights:
• Pre-tax profits for the financial year 2009-10, excluding exceptional items, of £5.2 million against a turnover of £58.4 million.
• Successful negotiation with ten Japanese utility companies for new commercial arrangements at the Sellafield MOX Plant (SMP)
• Commencement of a ten year programme to repatriate foreign customers’ vitrified highly active waste (HAW) from the UK, with two shipments to Japan and Holland respectively
• Successful completion of a mixed oxide (MOX) nuclear fuel delivery to Japan
• Taking on the management of Nuclear Decommissioning Authority contracts with utility customers at the Dounreay site
• The launch of a new cargo vessel, Pacific Egret, whose home port will be Barrow-in-Furness.
Mark Jervis, managing director of INS, said: “Our focus on the development of new business and new income for the NDA, while maintaining and enhancing longstanding customer relationships, sets us in good stead for the future.
“Last year the NDA tasked INS with investigating new commercial arrangements that could help to make the continuing operation of the SMP plant economically feasible. By the latter part of 2009/10 INS had negotiated with the ten Japanese utilities and reached agreement, on behalf of the NDA, for new commercial arrangements for SMP. In addition to being directly relevant to the immediate future of SMP, the new arrangements also help to underpin INS’ MOX-related business activities.
“Next year will see the continuation of increased operational activities and the bringing into service of the two new PNTL vessels, the Pacific Grebe and Pacific Egret with further shipments of MOX and HAW to customers.”
To download a copy of the INS Annual Review 2009-10, please access via this link>>>>
