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This is because its scope and value had become materially different from that anticipated at the time of award.To avert the risk of further financial exposure to the taxpayer, the Board decided to terminate the contract, with the support of Government and to maintain progress on Magnox decommissioning.

Ken Mc Callum stepped down as a non-executive director at the end of the year.

The events around the Magnox competition and contract are now the subject of an independent inquiry, led by Stephen Holliday.

We will cooperate with it and I believe that by taking on board its fi ndings and lessons the will emerge as a stronger and better organisation.

Despite our good progress, however, the Board remains concerned by the number of safety incidents reported across the estate last year.

It is a disappointing increase and a priority area of focus for the Board and our new Chief Executive Officer ().

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