On 1 October the re-structuring of Magnox Electric successfully completed. The Nuclear Site Licence for 5 of the UK’s Magnox sites* are now held by Magnox Limited Limited.
The other 5 Magnox sites* remained with Magnox Electric Limited, which has been renamed Magnox Limited Limited.
Magnox Electric Limited had been operating with two separate business units, Magnox Limited and Magnox Limited during a period of shadow working which began in November 2007. This restructuring formalises that separation.
Both companies will remain under the ownership of EnergySolutions for the duration of the contract with the NDA. Even though Magnox Limited and South are now separate nuclear licensed companies, they will continue to work together for the benefit of our customer.
President of International Group EnergySolutions, Mark Morant, said: “To reach this point both Magnox Limited and Magnox Limited teams have had to complete a detailed and vigorous process to receive regulatory approval for the separation. In particular they have had to ensure that our regulators shared our confidence that both businesses have the skills and necessary core competence to become independent, and maintain the levels of safety which were a feature of Magnox Electric Limited’s operations.
“I am delighted at the result of the extensive work to achieve legal separation, which has already resulted in significant improvements in the way both organisations operate. I am confident that we will be able to continue to improve on our excellent record of delivering safely for our customer and, ultimately, the UK taxpayer”.
* Magnox Limited Limited operates sites at HinkleyPointA, Berkeley, Dungeness A, Bradwell and Sizewell A.Magnox Limited Limited operates sites at Oldbury,Trawsfynydd, Wylfa, Chapelcross and Hunterston A.