Hinkley C makes The Times front page
It’s been our bete noir for a few years now but it seems like the omnishambles that is Hinkley C is finally attracting wider attention. Following the resignation of EDF’s finance director over the financial risks posed by this project, The Times puts a call to scrap the entire project on its front page.
On the other hand, late last week, the folly was given full blessing by David Cameron and Francois Hollande who, presumably consider the risks to be insignificant. Lets examine those risks shall we? Massive costs over runs on similar reactors built by EDF in France and Finland. Safety concerns about the reactor construction which has added to delays. Concerns about the financial stability of EDF. Security issues surrounding the fact that the build is hugely dependent on funding from the Chinese state.
Oh, and it’s already a decade late and requires UK consumers to back a subsidy which guarantees a price for the electricity (should it ever actually generate any) which is well over twice the current wholesale price. For thirty five years.
This madness needs to be stopped. We loved this quote in The Times piece from Dominic Whittome, energy consultant at Mainline Energy who opined:
“The subsidies just look staggering. The government just didn’t know what they were doing... It’s the worst deal I’ve ever seen.”
Why we allow politicians to get involved with grown up stuff like this is beyond us.
Read the article here..