nuclear-news

UK union unhappy with financing plan for new nuclear power plants

Times 30th July 2019 New nuclear power plants should be funded through general taxation instead of piling the costs on to consumers, a leading union has said. The GMB said
that the government’s proposed regulated asset base funding model for
further reactors was “acceptable”, but that the costs should be paid “from
a progressive general taxation system”. Last week The Times reported leaked
government analysis that up to 40 gigawatts of either nuclear power or
carbon capture and storage plants was needed by 2050 to meet “net zero”
emissions targets. That equates to 12 Hinkley Point plants. Under the
regulated asset base model, developers would receive a regulated return
while the plant was under construction, cutting their financing costs. It
would still be funded on bills, exposing consumers to cost overruns.

https://www.thetimes.co.uk/article/a80b0ffa-b23b-11e9-9df9-ac98825b867a

August 1, 2019 - Posted by Christina Macpherson | business and costs, UK