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Yet another delay for UK’s Hinkley nuclear project – no deal till after May election

Hinkley-nuclear-power-plantHinkley Point nuclear deal faces fresh delay, Ft.com Jim Pickard, Chief Political Correspondent January 28, 2015 The UK’s parliamentary watchdog has abandoned plans to scrutinise the Hinkley Point C nuclear project after predicting that a deal over state support would not be struck before May’s general election ……

The Commons public accounts committee has given up any hope of examining the contract before the election, according to Margaret Hodge, who chairs the group of MPs that scrutinises public spending……..

Tim Yeo, who chairs the energy committee, said any more delays to the scheme would be “extremely worrying” for long term supporters of nuclear power in the UK. “It will be disappointing if it slips to after the election. We do not need yet another element of doubt,” he said……….

In the deal struck with the government, EDF is due to get £92.50 per megawatt hour for 35 years.

But concern is growing over whether this offers good value for money for taxpayers, given the recent slump in oil prices………

Paul Flynn, a Labour MP, recently pressed Sir Nicholas Macpherson, the Treasury permanent secretary, during a hearing of the public affairs committee. “You have agreed to a contract, in this time of falling fuel prices . . . to guarantee a price of £92.50 per megawatt hour, which is twice the present going rate for electricity,” he said. “Is this sensible planning?”

Sir Nicholas accepted these were “good questions” and said he would report back to the committee.

…………….Additional reporting by Lucy Hornby in Beijing http://www.ft.com/intl/cms/s/0/12dc82ea-a6df-11e4-9c4d-00144feab7de.html#axzz3QFgsRYiw
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January 30, 2015 - Posted by | politics, UK

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