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UK PM David Cameron willing to make a nuclear attack if ‘justified’

atomic-bomb-lDavid Cameron says that he would use nuclear weapons The PM described nuclear bombs as ‘the ultimate insurance policy’ and said the attack could be ‘justified’, The Independent, Jon stone  Sunday 4 October 2015 David Cameron has said there are circumstances in which he would launch a nuclear attack on another country.

The PM described nuclear bombs as “the ultimate insurance policy” and said the attack could be “justified”.

Mr Cameron’s statement comes after Labour leader Jeremy Corbyn said he would not use nuclear bombs on another country’s population.

“If you … believe like me that Britain should keep the ultimate insurance policy of an independent nuclear deterrent, you have to accept there are circumstances in which its use would be justified,” Mr Cameron told BBC One’s Andrew Marr show on 4 October…….Warheads carried on Britain’s nuclear submarines are eight times more powerful than the atomic bombs used in 1945.

Parliament is set to vote during this parliamentar on whether to renew the Trident nuclear weapons system.

Mr Corbyn opposes renewal, but some Labour MPs have said they disagree with him.

The Opposition’s official policy remains in support of Trident after the party’s leadership failed to secure a policy vote to change it at annual conference last week.

The SNP and Green Party oppose Trident. The Liberal Democrats want a small nuclear weapons system which they say would be less costly. http://www.independent.co.uk/news/uk/politics/david-cameron-says-that-he-would-use-nuclear-weapons-a6679256.html

October 5, 2015 Posted by | politics, UK, weapons and war | Leave a comment

Dr Ian Fairlea sets out the grim facts on costs at the end of the nuclear power party

pity UK taxpayers in decades, centuries and millennia to come.

highly-recommendedflag-UKWhen the party’s over … the financial spectre at the end of nuclear power http://www.theecologist.org/News/news_analysis/2985577/when_the_partys_over_the_financial_spectre_at_the_end_of_nuclear_power.html Dr Ian Fairlie 1st October 2015 

There are two rules about the end costs of nuclear power, writes Ian Fairlie. It’s far more than you ever knew. And whatever sum of money was ever set aside, it’s nowhere near enough. Germany understands this. That’s why it refused to let E.ON spin off its nuclear liabilities into a hands-off company. But the UK, it seems, has lost the ability to learn from its nuclear mistakes.

Nuclear power has a wide spectrum of disadvantages.

One is that when reactors are shut down for good, a host of financial liabilities continue with no income flow from the sale of nuclear electricity to pay for them.

And enormous new liabilities for decommissioning and final disposal commence at the same time.

wastes garbage

This became crystal-clear in April when the German energy giant E.ON proposed to spin off its remaining nuclear activities1 into a separate company, Uniper, in an attempt to protect the parent company from the multiple nuclear liabilities from the impending shutdowns of its nuclear reactors: Germany is phasing out all nuclear power by 2022. Continue reading →

October 3, 2015 Posted by | business and costs, politics, Reference, UK | Leave a comment

Facts on UK’s nuclear arsenal

submarine-missileflag-UK13 Things You Need To Know About Britain’s Nuclear Arsenal, Buzzfed, Tom Chivers, 2 Oct 15 

Jeremy Corbyn’s election as Labour leader has reignited the debate about whether to replace Britain’s nuclear weapons. Here are the facts about the missiles and the submarines that launch them.

1. Next year, Britain will decide whether to build a new generation of nuclear missile submarines.

Since 1998, the only nuclear weapons Britain has are Trident intercontinental ballistic missiles aboard four Vanguard-class submarines.

The submarines are expected to be retired in 2028. In 2007, MPs voted overwhelmingly (by 409 votes to 61) to replace them; a final decision will be taken in 2016…………….

4. A 100kt bomb detonated in the air over central London would probably kill about 250,000 people, almost instantly.

That’s before taking into consideration the effects of radioactive fallout.

(Technical note: The 250,000 figure has been worked out using Nukemap, thispopulation-measuring map, and a rule of thumb that the total dead caused by a nuclear explosion is roughly equivalent to the population inside the “5psi overpressure” radius.)………

7. According to the Royal Navy, the Trident missilehas a range of 4,000 nautical miles, or 7,500km.

That means that a submarine at its base in Faslane could hit targets in Nevada, or central India.

Within two minutes of launch the missile will be travelling at 6km a second, and can reach a target at maximum range in about 20 minutes……..

9. The Trident missiles are built, and owned, by the US, although the warheads and submarines are British-built.

The US weapons manufacturer Lockheed Martin builds the missiles, and provides the technical support to keep them operational………

11. When a new prime minister is elected, they give the commanders of each of the four submarines a sealed letter, known as the letter of last resort.

These letters contain orders of what to do in the event that the government has been destroyed, and the prime minister and the “second person” have been killed or incapacitated, in a nuclear attack on Britain.

When the prime minister leaves office, their orders are destroyed unopened. No one knows what Gordon Brown, Tony Blair, or any of their predecessors wrote in their letters of last resort, and what action would have been taken if there had been an attack.

12. There are believed to be four possible versions of the orders.According to the BBC’s documentary The Human Button, the four options are: To retaliate, with nuclear weapons, against the attacking state; not to retaliate; to use the commander’s own judgment; or to place the submarine under the command of an ally, for instance the United States or Australia.

13. It has been claimed that one of the ways that a submarine commander will know if the British government has been destroyed is if BBC Radio 4 stops broadcasting for several days in a row.According to Lord (Peter) Hennessy, author of The Secret State: Whitehall and the Cold War, 1945–1970, there are several tests, but one of them is to listen for theToday programme on Radio 4’s frequencies. If it isn’t heard for some days – Hennessy says three – it is taken to be evidence that the state has been destroyed and that the letters of last resort should be opened. http://www.buzzfeed.com/tomchivers/things-you-need-to-know-about-britains-nuclear-arsenal

October 3, 2015 Posted by | UK, weapons and war | Leave a comment

Jeremy Corbyn opposes renewal of Trident nuclear weapons programme

submarine-missileflag-UKJeremy Corbyn row after ‘I’d not fire nuclear weapons’ comment, BBC News 30 September 2015  Jeremy Corbyn has faced criticism from senior Labour colleagues for saying he would not fire Britain’s nuclear weapons if he were prime minister.

Shadow defence secretary Maria Eagle said the words were “not helpful”, while shadow foreign secretary Hilary Benn said Mr Corbyn should abide by the party’s decision on renewing Trident.

Mr Corbyn said nuclear weapons “didn’t do the USA much good on 9/11”.

He added that he was elected leader on a platform opposing Trident renewal.

Prime Minister David Cameron said Mr Corbyn’s comments showed Labour could not be trusted with Britain’s national security.

Following the shadow cabinet criticism of his comments, Mr Corbyn was asked by the BBC’s John Pienaar what the point of the Labour defence policy debate and review was.

He said: “The point of a policy debate is to try and bring people with me.”

n his conference address on Tuesday, Mr Corbyn said his landslide leadership win gave a “mandate” for his views on disarmament of Britain’s nuclear weapons.

On Wednesday’s BBC Radio 4 Today programme he said: “I am opposed to the use of nuclear weapons. I am opposed to the holding of nuclear weapons. I want to see a nuclear-free world. I believe it is possible.

“I do not think we should be renewing Trident… I think we should be promoting an international nuclear weapons convention which would lead to a nuclear-free world.”…….http://www.bbc.com/news/uk-politics-34399565?SThisFB

October 2, 2015 Posted by | politics, UK, weapons and war | Leave a comment

PICAT – A Public Interest Case Against Trident, co-ordinated by Trident Ploughshares

text-Please-Noteflag-UKThe Citizen Challenge to UK’s Nuclear Weapons. Campaigners Aim to Prosecute British State http://www.globalresearch.ca/the-citizen-challenge-to-uks-nuclear-weapons-campaigners-aim-to-prosecute-british-state/5479142 By Action AWE Global Research, October 01, 2015 On 1st October campaigners will begin a new and ambitious project to institute a citizen’s prosecution of the Government and specifically the Secretary of State for Defence for breaching international law by its active deployment of the Trident nuclear weapon system.

peace cPICAT is co-ordinated by Trident Ploughshares and will involve groups across England and Wales in a series of steps which will hopefully lead to the Attorney General’s consent for the case to go before the courts.

Groups will begin by seeking an assurance from the Secretary of State for Defence that the UK’s nuclear weapons will not be used, or their use threatened, in such a way as to cause wholesale loss of civilian life and damage to the environment.

In the case of no response or an unsatisfactory one groups will then approach their local magistrates to lay a Criminal Information (1). If consent for the case is not forthcoming from the Attorney General the campaign will then consider approaching the International Criminal Court.

Veteran peace campaigner Angie Zelter (2), who has developed the project along with international lawyer Robbie Manson (3), said:

The government has consistently refused to give evidence to prove how Trident or any replacement could ever be used lawfully. This campaign is an attempt to find a court willing to examine objectively if the threat to use Trident
is in fact criminal as so many of us think it is. It is a matter of vital public interest.

The UK, along with the other nuclear weapon states, is becoming increasingly isolated from the growing global momentum to outlaw nuclear weapons, as expressed in the Humanitarian Pledge, which has already attracted the signatures of 117 nations.(4)

Robbie Manson said:

I remain very firmly of the view that it is both an immensely worthy and worthwhile cause to pursue these matters, even in court, and with vigour given the enormity of the humanitarian need, political significance and the scale of the diplomatic hypocrisy upon which our political masters rely for the achievement of their designs.

The project is supported by an impressive list of expert witnesses (5), including Phil Webber, Chair of Scientists for Global Responsibility, Professor Paul Rogers, Department of Peace Studies at the University of Bradford, and John Ainslie of Scottish CND.

Contacts: Continue reading →

October 2, 2015 Posted by | opposition to nuclear, UK | Leave a comment

Bank of England warns on climate change’s threat to global stability

globe-warmingThe Bank of England governor has given a stark warning that climate change poses a huge risk to global stability.

At a gathering of leading insurers at Lloyd’s of London, Mark Carney pointed out the rapid increase in weather-related catastrophes and the jump in both the physical and financial costs.

He said the challenges currently posed by climate change “pale in significance compared with what might come”……http://www.bbc.com/news/business-34396961

October 2, 2015 Posted by | business and costs, UK | Leave a comment

Shetland Islands Council endorses Mayors for Peace call for nuclear weapons free world

Convener calls time on nuclear weapons  http://www.shetlandtimes.co.uk/2015/09/29/convener-calls-time-on-nuclear-weapons 29/09/2015 , by , 

The council’s convener has backed international calls for a world free of nuclear weapons.

A joint statement from mayors, religious leaders and parliamentarians from across the world was adopted in Hiroshima in August and presented to the United Nations on Saturday, the international day for the total elimination of nuclear weapons.

Malcolm Bell is a member of the Mayors for Peace organisation, which works internationally to raise consciousness around nuclear weapons abolition. It also seeks lasting world peace by working to address starvation, poverty, refugee welfare, human rights abuses and environmental destruction.

Shetland Islands Council is also a member of the Nuclear Free Local Authorities group, which works to increase local accountability over national nuclear policy, identify the impact of that on local communities, and to minimise nuclear hazards and increase public safety.

The statement:

· Highlights the continuing risks of a nuclear catastrophe – whether by accident, miscalculation or intent – and the moral and security imperative to achieve nuclear abolition.

· Notes that ‘mayors are responsible for protecting the safety and welfare of their citizens, as well as for preserving and promoting cultural and environmental values and heritages’.

· Deplores the nuclear weapons budget of ‘$100 billion annually’, and says such funds could be used to reverse climate change, eliminate poverty and address other social and economic needs.

· Affirms ‘UN Secretary-General Ban Ki-moon’s description of the abolition of nuclear weapons as a “common good of the highest order”.

Mr Bell said: “I am delighted to have this opportunity to endorse the joint statement of fellow civic heads, religious leaders and parliamentarians which commemorates the 70th anniversary of the beginning of the nuclear age, and the foundation of the United Nations.”

September 30, 2015 Posted by | UK, weapons and war | Leave a comment

British media needs to wake up to the national scandal of the Hinkley nuclear project

news-nukeHinkley: a truly major national scandal http://www.telegraph.co.uk/comment/11893698/Hinkley-a-truly-major-national-scandal.html The new nuclear power station will be the costliest engineering project Britain has ever embarked on, and a total waste of money. By  26 Sep 2015

 Two bizarre interviews last week again highlighted how woeful has been much reporting on the costliest engineering project Britain has ever embarked on. Their cue was George Osborne’s announcement that UK taxpayers are to “guarantee” £2 billion of the money paid to firms owned by the Chinese and French governments, to build in Somerset the most expensive nuclear power station in the world.

Although it was originally claimed that Hinkley Point C would cost only £10 billion and be “cooking Christmas dinners by 2017”, its completion date is now likely to be well after 2023, and its cost has spiralled so fast it will be way over the current figure of £24.5 billion. This would already make it more expensive than the Channel Tunnel and half the estimated cost of the vast, as-yet unapproved HS2 rail project.

But all we might get for this colossal sum would be 3.2 gigawatts of heavily subsidised “low-carbon” electricity, when the latest £1 billion gas-fired power station at Pembroke can already provide 2GW of unsubsidised power at half the price and at less than a 20th of the capital cost. Furthermore, the two obsolete European Pressurised Reactors the French firm EDF plans to install in Somerset have so many design problems that those it is already building in France and Finland have massively overrun on cost and time, while a modern nuclear plant built by South Koreans in Qatar is completed on time and at a fraction of the cost.

Everything about Hinkley Point indicates that it is as absurd a project as any government has ever fallen for. Yet when Channel 4 News reported the story on Monday, Jon Snow could think of no one better to interview on it than that great energy expert Vivienne Westwood, the dress designer, who could only repeat that “renewables” are getting “ever cheaper”, while subsidies to fossil fuels (non-existent) are rising ever higher.

Rudd, Amber UKAt least when John Humphrys interviewed the Energy Secretary, Amber Rudd, that morning on the Today programme, he began by gabbling some of the more obvious objections to Hinkley. But he then gave Rudd a free run to babble about how thankful we should be to the Chinese and the French for helping to give us “low-carbon energy security”. Please, guys, we know you are besotted with climate change and “low-carbon” energy. But even in your own terms, can you not recognise a truly massive national scandal when it is staring you in the face?

September 28, 2015 Posted by | media, UK | Leave a comment

British nuclear submarine stricken with technical problems off coast of Iran

submarine,-nuclear-underwatStranded: Ageing British nuclear submarine in top-secret mission is undergoing repairs off the coast of Iran [includes VIDEO] Daily Mail, 

  • British nuclear submarine spotted at dock in the Emirati dock of Fujairah
  • Port is situated less than 100 nautical miles from the coast of Iran 
  • A 650ft-long metal barrier covers the submarine to avoid detection
  • It is believed to be one of Britain’s four Trafalgar Class submarines

flag-UKflag-IranBy MARK NICOL DEFENCE CORRESPONDENT FOR THE MAIL ON SUNDAY  27 September 2015 |

A British nuclear submarine has been caught on camera after it apparently became stricken with technical problems while on a top-secret mission in one of the most dangerous parts of the world.

Satellite images show the Royal Navy vessel undergoing repairs at a port less than 100 nautical miles from Iran.

The nuclear-powered submarine is pictured docked at Fujairah, one of the United Arab Emirates, in the politically sensitive seaway of the Gulf of Oman……….

In 2013, The Mail on Sunday revealed how the ageing Trafalgar submarines had been issued with ‘Code Red’ safety warnings after inspectors found radioactive leaks. The report by the Defence Nuclear Safety Regulator found that cracks in reactors and nuclear discharges were directly attributable to the Trafalgars remaining in service beyond their design date.

The Trafalgars are powered by nuclear reactors and are supposed to stay at sea for up to three months. They are equipped with Tomahawk cruise missiles and sonar equipment that can hear enemy vessels sailing more than 50 miles away.

The submarines have a typical complement of 120 to 130 personnel, up to 20 of them officers. The Trafalgars are being replaced by Astute Class nuclear submarines.

A Ministry of Defence spokesman said: ‘We do not comment on submarine operations.’ http://www.dailymail.co.uk/news/article-3250393/Stranded-Ageing-British-nuclear-submarine-secret-mission-undergoing-repairs-coast-Iran.html#ixzz3myehgajC

September 28, 2015 Posted by | incidents, Iran, UK | Leave a comment

China and UK joining in promoting new nuclear technology

flag-Chinaflag-UKChina, UK to fund nuclear research centre http://www.world-nuclear-news.org/NN-China-UK-to-fund-nuclear-research-centre-25091502.html 25 September 2015

China and the UK will work together to co-fund a £50 million ($78 million) nuclear research centre, to be headquartered in the UK. Chinese vice premier Ma Kai and British chancellor George Osborne announced the plan on 21 September during the 7th UK-China Economic and Financial Dialogue summit in Beijing.

Nuclear-marketing-continues

The Chancellor also announced a regional collaboration agreement between Cumbria and Sichuan Province, deepening commercial ties between the province and the north west of England’s expertise in nuclear decommissioning and waste management. These developments followed a landmark announcement by Osborne the same day that the UK government would provide up to £2 billion ($3 billion) in support for the planned Hinkley Point C nuclear power plant, which China may participate in.

The UK’s National Nuclear Laboratory (NNL) said on 22 September that it will jointly lead the new UK-China Joint Research and Innovation Centre (JRIC) with the China National Nuclear Corporation (CNNC).

The JRIC – which will incorporate projects in a number of different areas of work across the whole nuclear fuel cycle – will “act as a portal to allow UK companies and academic organizations and their Chinese counterparts to work together on areas of mutual benefit and will support the development of Subject Matter Experts and others with higher level skill in both countries,” NNL said.

Over the coming months NNL and CNNC will work together to establish a program of work for the JRIC and to develop links with other UK bodies including the Nuclear Advanced Manufacturing Research Centre (NAMRC), the National Skills Academy for Nuclear (NSAN), the Nuclear Innovation and Research Advisory Board (NIRAB) and key UK universities working in the nuclear sector.

text-SMRsProfessor Andrew Sherry, chief scientist at NNL, wrote in a blog on the Department of Energy and Climate Change’s website that there is a strong case for exploring the potential of next generation nuclear technologies. “There is scope for developing new reactor concepts including small and modular reactors, which can provide both electricity and potentially heat, and also for considering even more advanced reactors which can be powered with reprocessed spent fuel to make more efficient use of the uranium fuel, and generate less nuclear waste,” he said. “These advances will need targeted research across the UK, drawing together universities, national laboratories and industry and linking effectively with the international community.“

September 26, 2015 Posted by | China, marketing of nuclear, politics international, UK | Leave a comment

Nuclear power station at Bradwell would damage the marine environment

water-dropsflag-UKMP warning over new nuclear power station in Essex East Anglian Daily Times 25 September 2015 Matt Stott  An Essex MP has claimed a new nuclear power station at Bradwell would cause “significant damage” to the marine environment. Harwich and North Essex MP Bernard Jenkin expressed concern over the impact the site would have on the region’s fishing industries and ecology.

His intervention comes days after Chancellor George Osborne indicated a £2 billion Government guarantee for Chinese investment in the proposed Hinkley Point C nuclear power plant in Somerset could pave the way for further deals, including a majority Chinese-owned nuclear generation facility at Bradwell.

It is thought the site, next to the former nuclear power station, could be shared with between owners EDF and Chinese firms to build and run a new nuclear plant.

Mr Jenkin said: “There should be no new nuclear at Bradwell, unless the concerns about damage to the estuary and storage of nuclear waste on site can both be unequivocally resolved. “There seems no way that a new nuclear power station would avoid significant damage to the marine environment in the estuary.

“When the Magnox station was decommissioned, there was explosive recovery in the marine environment. I have been informed that a new power station would take six times more flow of water than its predecessor.

“The estuary cannot supply the volume of cooling water without severely damaging the natural life-cycle of organisms in it. This jeopardises the ecology, our local fishing industries and goes against the aim of the Marine Conservation Zone.”

He added: “It is also a significant concern… that high level nuclear waste would have to be secured and stored on the site for some decades after a new facility has reached the end of its operating life, before it can be safely transported.

“This raises questions about how could it be stored safely over such a long period.”………http://www.eadt.co.uk/news/mp_warning_over_new_nuclear_power_station_in_essex_1_4246963

September 26, 2015 Posted by | environment, oceans, UK, water | Leave a comment

Britain uncomfortably close to Chinese control of nuclear power system

fearflag-UKThe China syndrome, Economist, 25 Sept 15  Britain’s nuclear plans look over-expensive and over-reliant on China “…….. Already the £24.5 billion project to build a nuclear power station called Hinkley Point C in Somerset is expected to finish over-budget and beyond the projected start date of 2023, if it ever starts at all. But on September 21st, after unveiling in Beijing a £2 billion inducement to China to help finance Britain’s first reactor in 20 years, George Osborne exposed himself to further criticism. The country should lead the way on nuclear power as it did in the 1950s, he said. But the implication was, it could only do it with China’s help (see Bagehot).

Critics say this reveals a whiff of desperation about the government’s bet on a nuclear renaissance, ………

Analysts say Mr Osborne is engaged in a complex manoeuvre to ensure that two Chinese firms help finance EDF. The £2 billion guarantee is one inducement. Another is an offer for China to build a reactor of its own at Bradwell in Essex. That has set off further alarm bells, though. Not only would it test confidence in Britain’s Office for Nuclear Regulation, it would also put a critical part of the nuclear industry and the national grid into Chinese hands.

Roland Vetter of CF Partners, an energy trader, doubts a go-ahead for the China project will come soon; licensing new nuclear technology in Britain takes years. It could be a strategic gambit, though. EDF’s boss in Britain, Vincent de Rivaz, notes that British and French companies are keen to help China, which has an ambitious programme of its own to build nuclear power plants. Mr Osborne may also calculate that Hinkley Point will create numerous jobs and building opportunities, the economic benefits of which would accrue quickly.

The costs, meanwhile, would not become apparent until the plant is completed and bills rise. Future governments would reap the fallout, not this one. http://www.economist.com/news/britain/21667932-britains-nuclear-plans-look-over-expensive-and-over-reliant-china-china-syndrome

 

September 26, 2015 Posted by | China, politics international, UK | Leave a comment

UK’s Labour and Scottish National Party to join forces opposing Trident nuclear weapons system

submarine-missileCorbyn says Labour and SNP will join forces to oppose nuclear deterrent. Irish Times, 25 Sept 15 Labour leader’s opposition to Trident puts him at odds with many in his own party The British Labour Party will work with the Scottish nationalists to try to block the renewal of the Trident nuclear deterrent in a parliamentary vote due next year, Labour’s new leader, Jeremy Corbyn, said on Friday.

The Conservative government backs the multibillion-pound renewal of Britain’s ageing fleet of nuclear-armed submarines. It has a slim majority in parliament, so some of prime minister David Cameron’s own MPs, as well as other opposition parties, would have to join with Labour and the SNP to defeat the plans.

The Scottish National Party, which won 56 out of 59 seats in Scotland in the general election in May, has long opposed renewing the weapons and had called on veteran antiwar campaigner Mr Corbyn to support them.

“My position on Trident has been very clear all of my life. I am opposed to nuclear weapons,” Mr Corbyn, who was elected as Labour’s leader earlier this month, told BBC Scotland.

“Trident should go. I do not believe that it is a form of defence. I do not believe it is something that anyone in their proper mind would ever want to use.”

Labour’s existing position is to back the renewal of Trident, although it has previously suggested reducing the number of submarines to three from four……..http://www.irishtimes.com/news/world/uk/corbyn-says-labour-and-snp-will-join-forces-to-oppose-nuclear-deterrent-1.2366935

September 26, 2015 Posted by | opposition to nuclear, politics, UK, weapons and war | Leave a comment

The British Government is spreading untruths about the price of renewable energy.

What does all this add up to? The government, its Treasury department, its Chancellor George Osborne and its energy department, DECC, are grossly and presumably knowingly misrepresenting the relative costs of renewable energy and nuclear power.

And it’s all part of plan to force upon us a new generation of hyper-expensive nuclear power plants that will cost energy users through the nose until 2060 and beyond, putting the country on a ‘back to the future’ path to the 1950s, while wiser nations reap the benefits of cheap, clean renewable energy.

They must be stopped. And shame upon them!

NUCLEAR-LIES1flag-UKNuclear Lies About Renewable Energy http://www.counterpunch.org/2015/09/24/nuclear-lies-about-renewable-energy/ by OLIVER TICKELL There’s no doubt about it. The British Government is spreading untruths about the price of renewable energy.

Is it deliberate? One can only assume so owing to the consistency of the pattern and the equally consistent refusal to explain or correct its misleading statements.

The context is also significant: it’s always in the context of supporting nuclear power over renewable energy sources. Continue reading →

September 25, 2015 Posted by | secrets,lies and civil liberties, UK | Leave a comment

UK’s £24bn Hinkley Point nuclear project shunned by investors

piggy-bank--nuke-sadflag-UKInvestors shun UK’s £24bn Hinkley Point nuclear project, FT.com , Christopher Adams  , 24 Sept 15 

Delays and cost overruns that have dogged two nuclear reactors being built in France and Finland have deterred investors from joining a £24bn project to build a plant at Hinkley Point.

French utility EDF is in advanced talks with two Chinese partners — China General Nuclear Corporation and China National Nuclear Corporation — over their final shares of construction spending and roles in the building of up to three nuclear plants in the UK. An agreement could be reached this year.
But Jean-Bernard Levy, EDF chief executive, told Les Echos, the French financial daily newspaper, that it had been unable to secure the support of other investors after persistent problems with the proposed European pressurised reactor design………http://www.ft.com/cms/s/0/67001140-6208-11e5-9846-de406ccb37f2.html#axzz3mgxe3MV2

September 25, 2015 Posted by | business and costs, politics, UK | Leave a comment

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