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UK’s nuclear regulated asset base (RAB) financing passes all financial risks to electricity customers

Times 15th March 2020 David Lowry: I read with incredulity the claims of Horizon nuclear chief Duncan Hawthorne that his company, which is really a Japanese shell company with no products, could build nuclear plants offering power at half the currently projected cost from the Hinkley Point C plant being built.
Making these outlandish claims on the anniversary of the disaster at the
Fukushima Daiichi reactors in Japan on March 11, 2011 — costs $250bn
(£200bn) and rising — suggests Horizon has not learnt the full lessons
of that. The regulated asset base (RAB) financing mechanism Horizon
advocates transfers all financial investment risk to electricity customers
before a single unit is delivered to a home, allowing the foreign nuclear
company to build plants without having to pay attention to keeping costs
under control. This is an extraordinarily one-sided proposal. Surely even
this nuclear-friendly government cannot fall for it.

https://www.thetimes.co.uk/edition/business/greta-is-right-and-our-leaders-have-no-solutions-tv089dbmw

March 16, 2020 - Posted by | business and costs, politics, Reference, UK

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