nuclear-news

Centrica to abandon nuclear plants in Britain -Too costly

By TOM MCGHIE AND LISA BUCKINGHAM, FINANCIAL MAIL ON SUNDAY

PUBLISHED: 22:20, 17 November 2012 | UPDATED: 11:02, 18 November 2012

Centrica is expected to turn its back on building new nuclear power stations in Britain and instead focus its expansion in the US.

The owner of British Gas will formally take the decision by January at the latest to end its partnership with French energy giant EDF to build a new Hinkley Point power station in Somerset.

According to senior company sources, only a dramatic change in Government policy on subsidising nuclear power would create a business case for investment.

[…]

Centrica is believed to see itself as the whipping boy for public anger over price increases and it is becoming increasingly disillusioned over the Government’s handling of energy policy, which is making long-term investment decision-making almost impossible.

Executives believe there are not enough incentives to make it worth their while putting more money into developing offshore wind projects.

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November 18, 2012 Posted by arclight2011 | Uncategorized | Leave a comment