If Theresa May is looking for an excuse to ditch Hinkley Point C, here it is: a stinging report from the National Audit Office on the potential cost of the proposed nuclear power station in Somerset. Energy consumers could end up paying £29.7bn in top-up payments under the contract granted to EDF, Hinkley’s French state-backed developer. That compares with £6.1bn in October 2013 when the strike-price for the 35-year contract was agreed. The difference, as the NAO states, is a function of the movement in wholesale energy prices. The more wholesale prices fall, the bigger the subsidy appears. Over 35 years, the Department of Energy and Climate Change might counter, anything could happen. Well, yes, but a difference of £20bn-plus is hard to dismiss as mere theoretical modelling or the inevitable price to be paid for the certainty of nuclear-generated electricity. It would be rational for a government presented with a report like the NAO’s to re-examine the financial logic of Hinkley. Legally, it may be too late and the ball may already be in EDF’s court. But, given the months of procrastination on the French side, the company may also want an excuse to drop Hinkley. Go for it, Mrs May.
Guardian 13th July 2016 read more »
The new chancellor of the exchequer has expressed his determination to see construction begin on the controversial Hinkley Point C nuclear plant, amid mounting concerns over the cost of the project. We have to make sure the project goes ahead,” Philip Hammond told BBC’s Today programme. However, he admitted there was “obviously an atmosphere of uncertainty” around the £18bn scheme due to the change of ministers following the referendum. Talks with France and China – the two countries offering to build the Somerset reactors – were already underway to reassure them that the UK government continued to fully back Britain’s first new nuclear power plant in a generation, said Hammond.
Guardian 14th July 2016 read more »
One policy that won’t change under what amounts to a brand new and unelected UK Government – the proposed new nuclear power station at Hinkley Point – continues to have its support. Chancellor Philip Hammond made that clear when he said that he believed it was vital to the UK economy and worth the substantial – and still rising – cost. Of course, whether it will be powering any green lights, or any lights at all, is still open to question because the French state-owned energy company EDF, which is leading project, has still to make the same commitment.
Independent 14th July 2016 read more »
BBC 14th July 2016 read more »
Somerset Live 14th July 2016 read more »
The building of the proposed Hinkley Point C nuclear power station in Somerset is a vital part of plans to keep the lights on according the National Audit Office (NAO). The cost of all this new power generation will be £140bn – which is to be passed on to consumers Some estimates suggest it will add an extra £230 a year on the average bill. And price of keeping Hinkley on stream has risen from £6.1 billion to £29.7 billion.
Somerset Live 14th July 2016 read more »
Britain’s new chancellor has thrown his weight behind plans to build an £18 billion nuclear power station at Hinkley Point. “We have to make sure the project goes ahead,” Philip Hammond told Radio 4’sToday programme, while acknowledging that there was “obviously an atmosphere of uncertainty” following weeks of turmoil after the Brexit vote. On his first day in the post, Mr Hammond said that the plant in Somerset, which would provide 7 per cent of UK electricity, was a prerequisite to ensure Britain had an efficient, modern energy system. The Hinkley project, led by EDF, the French state-owned energy company, has been delayed amid concerns about costs and problems with the reactor technology.
Times 15th July 2016 read more »