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There is potential for Brexit to finally scupper Hinkley C

Private Eye has long shared our dislike of the Hinkley C project. The current issue flags up the potential for Brexit finally scuppering this half-cocked project once and for all. Lets look at all the downsides already known; UK energy consumers will pay three times the current rate for wholesale electricity to cover the insane subsidies required to pay for this whitest of white pachyderms. Then there is the fact that that the main contractor, France’s state owned EDF, is in no financial position to undertake a project on this scale. It will give the Chinese state immense access and control over a large chunk of UK electricity output. Similar reactors being built in Finland and France are late, massively over budget and there are credible concerns about the safety of the reactors themselves.

The Eye now reports that far from being an infrastructure boost to UK industry, only a tiny amount of the value will be awarded to UK companies.  

Brexit will be used as a convenient excuse for all manner of stuff for which government and big business need political cover. It would be an appropriate moment for the government to announce that, on reflection, Hinkley C just isn’t worth it. 

You can read Private Eye's article below.

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