Britain’s nuclear power projects not economically viable, and adding to global warming
Nuclear power is helping to drive the climate crisis, Guardian, 3 July 19 Linda Rogers says the CBI has its head in the sand over nuclear reactors and Iain Climie wants politicians prepared to fund action to combat the climate emergency
As the CBI looks for investment from abroad, UK taxpayers will pick up the bill for the likely time and cost overruns of new nuclear build under the regulated asset-based funding proposals so welcomed by the CBI. Nuclear has failed to achieve the investment needed so far because it is no longer seen as economically viable. Even Hitachi (one of the world’s largest multinationals) cannot magic Wylfa Newydd into a commercially viable business. In January this year, Hitachi announced it had failed to squeeze the UK government for the very high levels of subsidies desired by large investors upfront for Wylfa. Nobody can afford the costs or the many risks attached to building new nuclear power stations.
Linda Rogers
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