nuclear-news

UK government’s secret subsidies to nuclear industry

Nuclear companies are also likely to receive government assurances that the taxpayer could foot any increases to the estimated bill for storing radioactive waste from new reactors…….

MPs attack government’s covert subsidies for nuclear industry Select committee criticises attempts to hide hundreds of millions of pounds of funding as ‘deeply irresponsible’ Fiona Harvey, environment correspondent, The Guardian, 16 May 2011 The government is planning to award covert subsidies of hundreds of millions of pounds to nuclear power, betraying the coalition promise that the taxpayer would not foot the bill for a new generation of reactors, according to an influential committee of MPs.The MPs criticised attempts to hide the subsidies as “deeply irresponsible” and said they put the government’s green credentials in jeopardy. The call comes at a critical time for the government , which is hoping to burnish its “greenest government ever” claim…….

Nuclear power is a potential flashpoint for the coalition, because the Liberal Democrats oppose new reactors but the Conservatives want to encourage them. The coalition compromised on allowing new reactors but without public subsidies. According to the report, hidden subsidies will be awarded through government-supported long-term contracts to supply energy, and a minimum price for carbon emissions.

That floor price for carbon, levied on businesses, could channel more than £1bn to nuclear generators over the next decade, according to estimates by environmental groups. Nuclear companies are also likely to receive government assurances that the taxpayer could foot any increases to the estimated bill for storing radioactive waste from new reactors…….

MPs attack government’s covert subsidies for nuclear industry | Environment | The Guardian

May 16, 2011 - Posted by Christina Macpherson | politics, UK