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UK government to generate a colossal public sector loss in building more nuclear power station at Sizewell C

Drunk on the latest fossil fuel energy crisis, the UK Government has handed
the British public a giant nuclear hangover that will leave the country
scrabbling for renewable energy solutions. Boris Johnson has promised 40 GW
of offshore wind by the end of the decade, which, when added to other
renewable energy sources, will generate over three-quarters of current
levels of UK electricity consumption.

But this growth could be threatened
by the nuked-up knee jerk reaction to the current natural gas price crisis
that will plunge the energy budget into a massive deficit and leave the
electricity system dangerously unbalanced. After fossil fuel prices subside
back towards their more usual levels, this will constitute a giant

The last time we had an energy crisis, in 2008 and 2011 when oil
prices spiked, the UK ended up with what was regarded as a bad deal to pay
(in today’s money) over £110 per MWh for Hinkley C over 35 years. That
was the hangover after the last crisis. This time it is likely to be worse
as the Government recycles its own half-truths to generate a colossal
public sector loss in building more nuclear power plant at Sizewell C and,
then, it hopes, at Wylfa. These plans would, eventually, ensure that around
20 percent of UK electricity comes from nuclear power, but also ensure that
efforts to balance the much cheaper renewable energy will be poorly
developed at best, and ignored at worst.

100% Renewables 4th Oct 2021

October 7, 2021 - Posted by | business and costs, politics, UK

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