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UK’s National Audit Office considers Hinkley Point C nuclear power plan ‘risky and expensive’

Hinkley Point deal ‘risky and expensive’, 23 June 2017

UK government plans for a new £18bn nuclear power station have come under fire from public auditors, who call it “a risky and expensive project”.BBC News 23 June

The case for the Hinkley Point C plant in Somerset was “marginal” and the deal was “not value for money”, according to the National Audit Office (NAO).

The NAO said the government had not sufficiently considered the costs and risks for consumers.

The government said building the plant was an “important strategic decision”.

The report comes nine months after the government granted final approval for the project, which is being financed by the French and Chinese governments.

State-controlled French energy firm EDF is funding two-thirds of the project, which will create more than 25,000 jobs, with China investing the remaining £6bn.

Critics of the deal have warned of escalating costs and the implications of allowing nuclear power plants to be built in the UK by foreign governments.

Case ‘uncertain’

The NAO’s report centred on the role of the Department for Business, Energy and Industrial Strategy (BEIS) in finalising the deal in 2016.

At the time, said the NAO, the department’s own value-for-money tests showed “the economic case for Hinkley Point C was marginal and subject to significant ……http://www.bbc.com/news/business-40372613

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June 23, 2017 - Posted by | business and costs, UK

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