Hinkley Point subsidies ‘could hit £40bn’
More detailed analysis of the dogs breakfast that is the government’s handling of the Hinckley Point replacement appears in The Times.
This time, the commentator is Antony Froggatt, a senior research fellow for energy at Chatham House, and something of an expert on the European nuclear industry. So you might expect some positive words. Not at all. He has run the numbers and reckons that subsidies will amount to over £40 bns over it’s operating lifespan. That’s money which comes from consumers via a levy on their electricity bills and goes straight across the channel to EDF’s shareholders. So much for energy security.
The price that the French have extracted from our clueless government is twice the current wholesale rate. The thing is already seven years late and they haven’t laid a brick at site yet. Oh, and the reactors may have a fatal safety flaw, no-ones really sure if it will work without causing a catastrophic nuclear accident or not. But don’t worry. It’ll be your children who pay for this folly. And their children. The half wits in government who signed this off will be long gone, probably snoozing the in House of Lords, so your grandchildren won’t even have the pleasure of voting them out of office.
The pretty images of what this white elephant will look like even shows solar panels on the roof of the main reactor halls. Oh the irony….