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DELTA puts off decision for a few years, no second nuclear power plant at Borssele for the time being

The financial crisis, combined with the substantial investment needed for a second nuclear power plant, current investment conditions, overcapacity in the electricity market and low energy prices, have recently led to the conclusion that building a nuclear power plant is not a feasible option for the time being. The shareholders have today been informed that the plans for a second nuclear plant have been put on hold for the next 2 to 3 years. As soon as the external conditions improve DELTA will restart the project.

The Dutch government regards nuclear energy as a potential component of a balanced energy mix. It will therefore grant a permit for a nuclear power plant if an energy company should apply for one. Moreover, independent experts such as the Netherlands Environmental Assessment Agency are increasingly advocating adding nuclear energy to the energy mix.

In the past six months, the investment climate has continued to deteriorate as a result of the financial crisis. The recession has also caused overcapacity in electricity production to increase further. At the same time, uncertainty remains about the European ETS system, the CO2 allocation policy and the price to be paid for emission allowances by market participants. At the moment, these uncertainties are too substantial to engage in a project of this size.

That is why both DELTA and its partners have concluded that there is insufficient certainty at this present time to justify engaging in the construction of a new nuclear power station.

Strategy
DELTA remains committed to investing in new generating capacity. The company considers nuclear energy to be a vital element in ensuring security of supply because it reduces the dependence on fossil fuels sourced from abroad, is highly cost-effective in the long run, and will achieve a massive reduction in carbon dioxide emissions compared to conventional generation methods.
A nuclear power plant could not be operational until at least 2020. With the construction of a second nuclear power station now being postponed, DELTA will have time to review the impact on its strategy. There are various options available that have a shorter implementation period than nuclear energy. The guiding principle for DELTA still is to be CO2 neutral by 2050.

Note to editors:

For more information please contact:

DELTA N.V.
Mirjam van Zuilen, Head of Communications & Public Affairs

Phone: (31)118 88 20 41 / (31) 6-28 90 64 03
Fax: 0118 – 88 2100
E-mail: persvoorlichting@DELTA.nl

Address
P.O. Box 5048
4330 KA Middelburg, Netherlands

HQ
Poelendaelesingel 10
4335 JA Middelburg