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Wylfa nuclear power to be very expensive for both taxpayers and consumers

Wind Power Monthly 31st July 2018 , David Milborrow:

In a complete policy reversal, the UK government has
announced it will consider direct investment in a proposed new nuclear
power station, Wylfa in North Wales.

This will enable the electricity price
to be brought down below the level agreed for the Hinkley Point C nuclear
plant, which attracted criticism from many quarters, including the
government’s own spending watchdog, the National Audit Office.

The UK government’s stake in Wylfa is likely to be around £5 billion, or around
30% of the total, although estimatesof the total cost vary between £12
billion and £20 billion. The government has not put a figure to the
expected electricity price for the Wylfa project, but speculation suggests
that it will be around £75-77/MWh, payable for 35 years.

The UK’s Guardian newspaper points out that the £75/MWh price (payable for 35
years) for nuclear power is significantly higher than the £62/MWh average
(payable for 15 years awarded for offshore wind projects due to come online
about the same time. The £13/MWh difference is higher than the cost of
backup for wind, which most studies putat around £5-£10/MWh.
https://www.windpowermonthly.com/article/1489040/windeconomics-uk-government-steps-support-nuclear-power

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August 3, 2018 - Posted by | business and costs, UK

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