2015 Report details for project: Project Eagle (formerly Urenco Future Options)

Project name: Project Eagle (formerly Urenco Future Options) - there are 5 reports for this project: 2013, 2014, 2015, 2016, 2017
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Organisation: BIS (D3) - see all reports for this organisation
Report year: 2015 (data is from Sept 2014)
Category: Transformation - see all reports for this category
Description: The Government has adopted a policy of asset disposal where there is no longer a good case in public policy terms for continued public ownership. On that basis, the Department of Energy and Climate Change (DECC), with commercial advice and support from the Shareholder Executive, was mandated by Number 10 to take forward preparations for a sale of HMG’s one-third shareholding in Urenco, a uranium enrichment company. A sale could realise significant proceeds. The project was transferred to BIS (in the Shareholder Executive) through a Machinery of Government change in February 2013.
DCA (RAG): Amber/Red
DCA text: The sale of HMG's stake in Urenco has material risks which ultimately lie outside the control of HMG. A/R RAG remains appropriate based on the key project risks that remain and the volume of work yet to be completed.
Start date: 2010-02-01
End date: 2015-10-01
Schedule text: As noted above the timeline may be delayed as it depends on external factors.
Baseline: £5.30m
Forecast: £3.65m
Variance: -31.00%
Variance text: 14/15 forecast represents the estimated cost of administering the sales process, including use of expert advisers for the FY14/15 year.
Whole Life Cost: £23.73m
WLCost text: Whole life costs represent the cumulative total of the annual allocated budgets for administering the sales process, including the use of external advisers. The actual spend to date may be materially lower, as a significant portion of each year's allocated budgets may be unused, and consequently rolled over.
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Notes2:
Sourcefile: IPA_2015.csv

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Acknowledgement: GMPP data has been re-used under the Open Government Licence.