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UK’s projected high electricity costs for Hinkley nuclear project – a warning for Egypt

All Africa 1st Dec 2020, No official details have yet been given to indicate what the price will be
for electricity generated by the El Dabaa plant that Russia’s state-owned
Rosatom is building in Egypt.
But in 2016, one Egyptian energy expert
predicted that prices per megawatt hour – how much it costs to produce one
megawatt of energy for one hour – from El Dabaa would be at least four
times more than from renewable power sources. Renewable energy prices have
fallen significantly since 2016, while nuclear power has become more
expensive.
British consumers will pay excessive amounts for electricity
from the Hinkley Point C nuclear power station that EDF is building for
decades after the plant is completed. While construction does not follow
the Build-Own-Operate model, EDF negotiated a 35-year power purchase price
linked to inflation with the British government in 2016 to extract as much
profit as possible. The British government’s Public Accounts Committee
conservatively estimated that this deal will cost consumers an additional
$40 billion (about R615 billion) over the 35 years of the contract compared
with alternative energy sources such as solar and wind.https://allafrica.com/stories/202012010852.html

December 3, 2020 - Posted by | business and costs, Egypt

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