The decision to plough on with Hinkley C is baffling
As a government loudly committed to ending subsidies, we find the decision to plough on with Hinkley C baffling. It’s bad enough having to watch Her Majesty’s Chancellor of the Exchequer kissing low places on every passing Chinese bigwig but what really stings – and will sting your children and grandchildren more - is the fact that our government has kindly guaranteed the prices for the electricity produced by this whitest of elephants. The rate, £92.50 per MWh, is twice the current wholesale rate and they, or rather you and your issue, will pay this for 35 years, regardless of what happens to energy prices in that period.
Given what we know about the effects of increasing renewable energy in developed energy markets, and we know that it results in lower wholesale electricity prices, then to saddle the population with a guarantee to foreign investors at this level starts to look criminal.
Meanwhile, Cleantechnica reports on the study by Tina Casey which points out that the same amount of electricity can be produced from solar PV with less than half the subsidy required for Hinckley C. There would also be no decommissioning costs, no infinitesimal waste storage legacy and no risk of large scale devastation and massive loss of life from a reactor accident. If you think we are exaggerating, Google Hinkley C reactor type safety concerns, and be afraid.
The closer we look at the commercial details around Hinkley C, the more we fear for the sanity of the elected leaders who champion this dogs breakfast of a project.
You can read the full article at Cleantechnica..