nuclear-news

Hinkley Point C nuclear project approved by UK Government: backs nuclear over renewable energy. Is this, like Brexit, a lonely position?

$23.7 billion construction cost financed by French ((EDF)) ($15.8 billion) and Chinese Government CGN ($7.9 billion); this cost excludes financing costs.

Completion 2025+, agreed power price 92.50 pounds/MWh in 2012 prices (double wholesale rate now) for 35 years regardless of wholesale price of power (consumers will make up difference).

Further nuclear projects planned in the UK by the EDF/CGN consortium.

GE an early beneficiary.

As everyone is getting used to Britain’s Quixotic decision to exit the EU, the British have done it again by deciding to go ahead with the massive Hinkley Point C nuclear reactor program, despite the fact that this locks Britain into expensive power for the next 35 years.

The Hinkley Point C story…….

The project is not without risk. Only four nuclear plants using the technology planned for Hinkley Point C are under construction. The two European plants under construction have had massive cost blowouts and neither is yet operational (see below).

The cost structure and completion date for Hinkley Point C has already grown considerably since the project was first announced. The guaranteed cost of power is twice what was first envisaged and completion has slipped by 8 years…. (registered readers only)  http://seekingalpha.com/article/4006707-britain-brexit-nuclear-power