Posted on 07/20/2022 9:29:54 AM PDT by Oldeconomybuyer
LONDON (AP) — Britain’s government on Wednesday gave the green light to a new nuclear power station that’s expected to generate enough low-carbon electricity to power 6 million homes.
Business Secretary Kwasi Kwarteng said development consent was granted for the building of the plant, called Sizewell C, on eastern England’s Suffolk coast.
French energy company EDF, which will partly fund the project, has said the plant will generate electricity for at least 60 years and will employ 900 people. The plant will reportedly cost 20 billion pounds ($24 billion).
Authorities say the plant will make a substantial contribution toward Britain’s target of making up to a quarter of the power consumed in the country come from nuclear by 2050.
The U.K. wants to reduce its dependence on imported oil and gas and generate cheaper, cleaner power domestically. The government has said it wants 95% of British electricity to come from low-carbon sources by 2030.
(Excerpt) Read more at apnews.com ...
“Business Secretary Kwasi Kwarteng”
They have been invaded and subverted.
Reality is beginning to sink in. Nukes should be big part of the solution. Wind mills and solar panels aren’t going to do it and this shows they are staring to admit it.
So, how long until Britons can begin enjoying adequate power delivered at a reasonable rate? It will take YEARS to get all the permitting and licensing done, if their bureaucracy is anything like that of the US. And that is before they even turn the first shovelful at the groundbreaking.
$24 billion should indicate multiple (3?) Units.
Did they shop around ?
Libtards always have to learn the hard way and still very slow about it 🤪
Or 6000 Teslas.....................
Too bad the US doesn't have money like that to spend on something useful.
Here in Georgia, we have two new nuclear plant that should go online in 2023, if Brandon’s NRC/EPA/etc. don’t mess us over.
If it powers 6 million homes and costs $24 billion that means each home’s share is $4,000.
Is the newfound acceptance of gas and nuclear power by the green movement due to necessity OR is it because they bought these companies out?
What they need to do is stick a few windmills on top of the Nuke plant’s cooling tower.
They can then just call it a green energy, low emissions project.
“If it powers 6 million homes and costs $24 billion that means each home’s share is $4,000.”
That’s actually not bad, compared to solar/wind/battery systems which costs at least 10 times as much.
Also, the operational/fuel costs of the nukes should be next to nothing, maybe $400 per year.
Good plan.
We need about 50 nuclear power stations here in the US.
If it powers 6 million homes and costs $24 billion that means each home’s share is $4,000.
Over a 60 year depreciation schedule...$4000 over 60 years is $5.55 per month in capital costs this assumes govt backed capital with zero interest but it’s valid for the number you provided. Not a bad deal for 60 years of 95% effective capacity energy.
They should ask the S.Koreans to build them they can do it for $2500/kw in capacity and from first concrete pour to busbar power do it in 60 months 48 if they are in a pad site with multiple reactors.
There are maintenance and operating costs but $4,000 seems cheap relative to other costs. I would pay that.
Nuclear O&M averages about $40 per Mwh that includes 0.1 cent per kWh waste disposal fees in the USA. 1.5 cents for uranium enrichment, fuel fabrication / reloading, and also the decommissioning fees. Nuclear power can be run at a profit with $50 per Mwh looking at Texas today the peak while sale rates were $2150 Mwh today and above 50 all day every day so far this summer. We have seen peaks in the $5000 MWh range this summer. $50 MWh is five cents per kWh plus distribution which is separate entity in Texas they get a legislated controlled 3.4 cents per kWh at a Texas legislature fixed profit ratio. That’s 8.4 cents per kWh which is half the current retail price on a 24 month contract a 12 month is every higher in the 25 cent range. 6 and 3 months are either not available or are 50+ cents per kWh. I’m in the power industry I see the raw data all day every day. I’m solar plus oil and gas I like money I don’t care the fuel source.
https://www.ercot.com/gridmktinfo/dashboards
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.