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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

Has the Confederation of British Industry got its head in the sand, or in the record levels of carbon-intensive concrete just poured at the Hinkley C nuclear site (Build more nuclear reactors to help climate crisis, says CBI, 28 June)? Nuclear power, apart from destroying biodiversity throughout its life cycle, produces up to 37 times the CO2 emissions of renewable energy sources, owing partly to the mining and refining of uranium. The impact of this process on people and the environment is not included in the rationale for nuclear power in the UK.

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

July 4, 2019 - Posted by | business and costs, climate change, politics, UK

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