nuclear-news

Wylfa nuclear power plan- a financial basket case- and no developer will take on the risks.

 Dr Doug Parr, Chief Scientist for Greenpeace UK, said: “Government
announcements about new reactors have a theatrical quality that doesn’t
inspire confidence, particularly when the financial disaster movie of
Hinkley is still rolling in the background.

But Wylfa poses an additional
danger because, after the damage suffered by EDF, no developer will take on
the financial risks of construction. And so in the unlikely event of this
reactor being built, bill payers will be on the hook for billions of cost
overruns.

Just how badly that can play out is revealed by the one location
where the kind of funding structure favoured by the government has been
tried, in South Carolina in the USA. The bill payers of the state have seen
billions added to their bills even though the planned reactors have been
abandoned uncompleted. Even worse, this financial basket case is one of the
reactor designs the government is considering for Wylfa.”

 Carmarthenshire News 23rd May 2024

https://www.carmarthenshirenewsonline.com/nationalnews/greenpeace-spokesperson-says-wylfa-nuclear-development-doesnt-inspire-confidence/

May 26, 2024 - Posted by Christina Macpherson | business and costs, UK