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Call to scrap costly Hinkley Point nuclear project

Government must scrap nuclear new-build plan   News and Star 10 March 2016 

THE government has to scrap its new nuclear build plans…..It has to bin the multi-billion deal it has signed with French power firm EDF for the Hinkley Point plant at Somerset.

Surely, if the company’s own finance chief thinks the deal is too expensive we should listen?Thomas Piquemal says the French-Chinese deal will wreck EDF and has resigned from his post in protest.It’s estimated the cost has already ballooned from £14bn to £24.5bn. All this at a time when energy firms are reporting major losses and cutting jobs.

 Two thirds of the bill is being funded by EDF with the rest coming from China. But we will ultimately foot the costs.Under the terms of the agreement, EDF will be paid three times the current wholesale price of electricity FOR 35 YEARS…….

Do we honestly have to commit to decades of excessive overpayments?

How can the government complain about the cost of subsidies to wind farm companies and solar panel firms when they are prepared to pay this much for nuclear plants?……..

March 11, 2016 - Posted by | general

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