UK nuclear power plant gets go-ahead

BBC News ^ | Occtober 21 2013 | anon

[Winniesboy]

The government has given the go-ahead for the UK's first new nuclear station in a generation.

France's EDF Energy will lead a consortium, which includes Chinese investors, to build the Hinkley Point C plant...

Critics warn guaranteeing the group a price for electricity at twice the current level will raise bills...

"For the first time, a nuclear station in this country will not have been built with money from the British taxpayer," said Secretary of State for Energy Edward Davey....

Ministers and EDF have been in talks...about the minimum price the company will be paid for electricity produced at the site...

The two sides have now agreed the "strike price" of £92.50 for every megawatt hour Hinkley C generates..This is almost twice the current wholesale cost of electricity...

However, Dr Paul Dorfman, from the Energy Institute at University College London, said... "It is essentially a subsidy of between what we calculate to be £800m to £1bn a year that the UK taxpayer and energy consumer will be putting into the deep pockets of Chinese and French corporations, which are essentially their governments."

The move follows Chancellor George Osborne's announcement last week that Chinese firms will be allowed to invest in civil nuclear projects in the UK.

The existing plant at Hinkley currently produces about 1% of the UK's total energy, but this is expected to rise to 7% once the expansion is complete in 2023.

The announcement is not legally binding and it will be 2014 before EDF makes a final investment decision on the project. The plans will also require state aid clearance from the European Commission.

But it comes as concerns about domestic energy bills move up the agenda after SSE and British Gas, two of the UK's "big six" gas and electricity suppliers raised prices.

[Winniesboy]

It was actually five years ago that the then Labour government authorised 10 new nuclear plants. Government will is one thing, the will of energy companies to actually build the things quite another. All the companies originally expressing interest have dropped out, citing various reasons but the lack of subsidy was paramount. Now EDF have agreed to go ahead, but only with what amounts to a massive bribe.

[count-your-change]

If all goes well it will be fifteen years before the first power flows and if all doesn’t go well...no power will ever flow.

[Paine in the Neck]

If all goes well it will be fifteen years before the first power flows and if all doesn’t go well...no power will ever flow.

And in the meanwhile the massive fail that is windpower will leave people literally freezing to death each winter.

[Reeses]

twice the current wholesale cost of electricity

Fail. Japan's stupid/lazy/uneducated/unable to follow procedures/culturally diverse workforce couldn't do it right so let's give the Chinese a crack at it. The Chinese have a long reputation for quality over price.</s>

Next experience to try, going to a Chinese owned all-you-can-eat sushi restaurant.

[silverleaf]

so, the French and the Chinese will be building nuclear plants (for profit) and charging double price to keep formerly coal-mining Britons from freezing to death in the dark

what a world