UK ‘s Hinkley nuclear plant plan – by no means a done deal

This is by no means a done deal

not just this government, other governments, lobbied by the nuclear industry.

It’s a long way from being settled and this test case is sure to fire up many more passions before it’s over.

EU clears the way for UK nuclear plant Australian Broadcasting Corporation ABC Lateline Broadcast: 09/10/2014 Reporter: Mary Gearin A controversial ruling by the EU has paved the way for a 30 billion dollar nuclear power station to be built in Britain, the first in the UK since the 1990’s

Transcript

EMMA ALBERICI, PRESENTER: “……..The project, by French company EDF, would create 25,000 jobs and replace a fifth of Britain’s aging nuclear infrastructure. But it’s conditional on getting a fixed, guaranteed price for the electricity it would generate. It wants more than £92, or about $170, per megawatt hour for 35 years. That’ll need government subsidies because the current market rate is less than half that – £41.50, or about $75.

European regulators have ruled the subsidies are compatible with EU trade rules; but now comes the fallout.

MARK TODD, ENERGYHELPLINE.COM: With the strike price so much higher than the current wholesale electricity price, this could be a bad deal for the consumer. It looks like it may lock in price rises up to about £200 on an electricity bill.

MARY GEARIN: Nuclear energy can attract subsidies because of its low carbon production, but critics say the downsides outweigh the benefits.

DOUG PARR, CHIEF SCIENTIST, GREENPEACE: We don’t agree that this is an environmentally friendly way to generate power. It may be low carbon, but it produces nuclear waste that nobody in the world knows what to do with and the terms of the deal are such that renewables developers argue that they’re giving an arm and a leg for this kind of subsidy………

MARY GEARIN: This is by no means a done deal. Austria has already signalled it would challenge the decision in the European court. In fact Europe is becoming increasingly divided on the issue of nuclear energy. While Germany is phasing it out, other pro-nuclear countries have been looking closely at this case to see what level of state subsidies they may be able to offer to encourage the industry.

But environmental policy advisor Professor Tom Bourke says those countries may balk at the cost.

TOM BURKE, CHAIRMAN, E3G ENVIRONMENTAL ORGANISATION: Remember what Britain’s had to do to get Hinkley Point agreed is it’s had to sell 35 years of index links tax receipts in order to buy electricity at twice the current wholesale cost. Now that doesn’t look to very many people like a good deal.

MARY GEARIN: So why is Britain doing this?

TOM BURKE: It’s extremely hard to explain any rational reason. I think in part it’s doing it because it’s just simply a symbol of the idea that Britain’s a country worth investing in. It’s partly doing it because it’s been very effective – not just this government, other governments, lobbied by the nuclear industry.

MARY GEARIN: It’s a long way from being settled and this test case is sure to fire up many more passions before it’s over. http://www.abc.net.au/lateline/content/2014/s4104087.htm

October 10, 2014 - Posted by Christina Macpherson | general

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