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Labour’s ‘Great British Energy’ Company likely to be a nuclear turkey

My ears perked up in eager anticipation when Keir Starmer, in his address to Labour’s Conference, started talking about setting up a state-backed renewable energy development company. But I sighed with
despair when it became clearer that this would be an investment conduit for what would be failing, black hole-type, nuclear projects.

Unless it is ring-fenced for renewable energy, and nuclear kept out, this will sink like a stone. If it is to be a vehicle for investing in new nuclear power plant, small or large, it will be like attaching a ship anchor to a rowing boat. It will sink. Quite fast in fact. The whole thing now sounds like an impractical soundbite meant to satisfy a committee on which sits Labour’s prime pro-nuclear donor, the GMB.

It’s actually a great pity that this is being spoiled by the nuclear-damned notion of this ‘Great British
Energy’ Company. I’m sorry Keir, I’d really like to be impressed by this, but it is a loser, certainly in the way it is being spun. When will politicians get it into their heads that new nuclear investment won’t and
can’t make money? Or maybe it’s just the soundbite that counts and they just don’t care that it doesn’t make sense?

 100% Renewable UK 27th Sept 2022

September 27, 2022 - Posted by Christina Macpherson | politics, UK