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Time for UK to stop the welfare payments to the collapsing nuclear industry

Stop Hinkley 29th Jan 2019 UK Energy Policy is at a tipping point. Following the withdrawal of two
Japanese giants – Toshiba and Hitachi – from nuclear projects at Moorside
in Cumbria and Wylfa on Anglesey – it is now clearer than ever that it
would be cheaper to build new renewable capacity rather than continue
building Hinkley Point C.

It’s now time to cut our losses and abandon the
Hinkley Point C project altogether. Even Business Secretary, Greg Clark has
recognised that “The cost of renewable technologies such as offshore wind
has fallen dramatically, to the point where they now require very little
public subsidy and will soon require none.” And the cost reductions for
offshore wind are far from over.

Stop Hinkley spokesperson Roy Pumfrey
said: “It is time to scrap the welfare scheme for the dying nuclear
industry called Hinkley Point C. Business Secretary Greg Clark has
virtually admitted that nuclear power is past its sell-by-date. If Hitachi
can’t make a profit with ‘significant and generous’ financial support
from the Government, – its share price went up by 10% when Wylfa was
suspended – and even EDF is getting cold feet despite the prospect of a
£50bn bung from consumers – it must be time to get out of nuclear, cancel
Hinkley and stop coming up with new ways of fleecing taxpayers and
consumers to fund new reactors.”
http://www.stophinkley.org/PressReleases/pr190129.pdf

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January 31, 2019 - Posted by | politics, UK

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