U.K. EYES PHL NUKE PUSH

The Philippines is talking nuclear power with Britain.

The two governments agreed to explore cooperation on civil nuclear energy during trade talks in Metro Manila.

One area was specifically named: radioactive waste management.

The agreement was tucked into a 12- to 18-month work program approved during the second Philippines-UK Joint Economic and Trade Committee meeting.

It comes as Manila prepares for something much bigger.

The Philippines wants nuclear power on the grid by 2032.

And the day before the meeting with Britain, the Department of Energy was seeking final comments on rules for the country's first nuclear power generation capacity tender.

The proposed system would allow the government to seek bids for nuclear generating capacity.

The target is 1,200 megawatts by 2032. Then 2,400 MW by 2035. By 2050, the government wants 4,800 MW.

The Department fo Energy said it is looking at several ways to pay for nuclear projects.

These include public-private partnerships, consortiums, build-own-operate arrangements and financing backed by vendors.

Several possible locations have also undergone initial assessments: Bataan, Palawan, Masbate, Pangasinan, Camarines Norte.

What Britain might actually do is still unclear.

The recent agreement names civil nuclear energy and radioactive waste management. It does not name a reactor company. Nor identify a technology or site. There is no commitment to build a plant.

Nor does the agreement say Britain will pay for one.

Britain does have money on the table elsewhere. UK Export Finance has up to £5 billion available to support eligible Philippine projects involving British goods and services.

But that money has not been earmarked for nuclear power.