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The News That Matters about the Nuclear Industry

Britain stuck with Hinkley nuclear plan, as its costs known to be unreasonable

Nuclear is rightly vanishing as an answer to our energy needs  UK consumers face cost of Hinkley Point plant just as the logic for nuclear fades, Inside London , Ft.com 25 May, by: Neil Collin

“……Nobody outside the industry now thinks the future of electricity generation is nuclear fission. The cost of building the plants to comply with safety and antiterrorism standards is rising all the time, fears of a runaway price for oil and gas now look silly, while advances in wind and solar technology are destroying those projections of ever-dearer energy.
… FT reported the appointment of nuclear critic Nicolas Hulot as France’s new energy minister, sending the shares in EDF down by 7 per cent. EDF, of course, is the contractor for that white elephant in the nuclear room, Hinkley Point. If this unproven design ever gets built and produces electricity, the UK consumer will be obliged to pay over twice the current market price for the output.
 Hinkley Point was conceived when “peak oil” meant peak supply, and conventional wisdom said that we would start to run out. The term now means the opposite; hydrocarbons are more abundant than we ever dreamt, and peak demand for oil may be less than a decade away. At the same time, the electricity supply market is changing. The assumption that the grid must be capable of supplying whatever is wanted looks increasingly wasteful.
Rather than manage supply, technology allows management of demand. A smart meter would help run the dishwasher or charge your electric car when it detected that the cost of juice was low. Unfortunately today’s so-called smart meters, now being rolled out at a hidden cost to consumers of £11bn, are too stupid to do this, and may be vulnerable to hacking. The UK’s energy market is in an unholy mess, with attention distracted by the vacuous debate about switching electricity suppliers. The real costs lie with the “green initiatives” at the other end of the wires.
 Scrapping Hinkley Point would not solve all of them, but it would be a start. Perhaps best to wait until after June 8 for another U-turn from Mrs May, though.https://www.ft.com/content/6ba2437a-3be7-11e7-ac89-b01cc67cfeec
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May 27, 2017 - Posted by | general

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