The FT like us are not fans of Hinkley C
You may have already gathered that we aren’t big fans of the deal to build Hinkley C.
We’re not alone. This piece in the FT lays bare the folly. The government has inherited a dogs breakfast and instead of cutting its losses, it is trying to muddle through, panicked by the increasing mess that UK energy supply is in.
We’d have backed Hinckley when, ten years ago, it was first proposed by French nuclear company Areva as a way of producing carbon free electricity at £24/MWh. A decade on, we are still years away from the plant producing a single unit of electricity but the price your government has kindly guaranteed on your behalf is now four times that, double the current wholesale price of electricity. For thirty five years, no less.
It’s a shambles. We like the last line of this sensible FT article (which you can read here.)