nuclear-news

“Low Carbon” – UK government’s excuse for sneaking in nuclear subsidy

EDF Nuclear Plan Gets Boost From U.K. Low Carbon Funds Bloomberg, By Sally Bakewell – Nov 23, 2012 The U.K.’s plan to collect 7.6 billion pounds ($12 billion) for low-carbon projects by 2020 would advance Electricite de France SA’s nuclear plants and add about a third to consumer electricity bills, analysts said.

The sum, announced today by the Department of Energy and Climate Change, will help pay for the 1.1 billion pounds of support a year needed to build two European Pressurized Reactors made by Areva SA (AREVA) for use at EDF sites in England, as well as renewable plants, according to Credit Suisse Group AG……..

Credit Suisse said Davey’s announcement was of particular importance for EDF Energy and Centrica Plc (CNA), which sought the arrangements.

A spokesman for SSE said, “We are pleased to see that the Levy Control Framework means that the U.K. will be building new power stations, including nuclear and renewables.”

November 26, 2012 - Posted by Christina Macpherson | politics, UK