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UK government likely to scrap the present funding plan for Hinkley nuclear power project

Telegraph 3rd Oct 2017, The Government is likely to scrap the complex funding arrangements used to
prop up the development of Hinkley Point C after an energy minister
admitted the deal is unlikely to be used for future nuclear projects.
Richard Harrington, who joined the Business and Energy department as a
junior minister earlier this year, said nuclear “absolutely” had a role
to play in the future energy mix, but appeared to bow to Hinkley’s
critics by admitting the financing model was “unlikely” to be used
again. Speaking on the fringes of the Conservative Party conference, he
said he believed that a “third model” existed between the complex deal
agreed with EDF Energy on Hinkley, and the suggestion that Government
should be the main financier behind nuclear projects in order to drive
costs lower.
http://www.telegraph.co.uk/business/2017/10/03/government-rethink-hinkley-point-funding-model-future-projects/

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October 6, 2017 - Posted by | politics, UK

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