nuclear-news

UK wind power – much cheaper than planned Wylfa nuclear power plant

‘Cheap’ power at Wylfa nuclear plant blown away by wind, The Times,  Emily Gosden, Energy Editor,  2 June 18 The electricity generated by the Wylfa nuclear plant could be about a fifth
cheaper than Hinkley Point’s but is likely to be much more expensive than
power from the latest offshore wind farms. It is understood that a figure
of close to £75 per megawatt-hour is under discussion as the “strike
price” that Hitachi, the Japanese conglomerate developing the Anglesey
plant, would be guaranteed by the government for the electricity it
produces. The difference between the guaranteed price and the wholesale
price — currently £50 per MWh — would be paid for by consumers through
levies on their energy bills.

Ministers are preparing to announce next week
the outline of a deal to fund the proposed Wylfa plant, which could cost in
excess of £15 billion. The twin-reactor plant could generate 2.9 gigawatts
of electricity, enough to power five million homes. It is due to start
generating in the mid 2020s. The government plans to invest directly in
Wylfa, as well as to offer extensive guarantee loans for the project. These
measures are designed to cut the cost of the project and so lower the price
that consumers will have to cover.

Critics of nuclear power are likely to
draw unfavourable comparisons with offshore wind. Two projects in UK waters
were awarded guarantees prices of £57.50 per MWh last year. Some onshore
wind and solar projects are being built without any subsidy.
https://www.thetimes.co.uk/article/cheap-power-at-nuclear-plant-blown-away-by-wind-3bzc2h5qm

June 1, 2018 - Posted by Christina Macpherson | business and costs, politics, renewable, UK