A new study shows that onshore wind and solar photovoltaics (PV) can generate as much as the Hinkley Point C nuclear power plant (NPP) at a far lower cost. The Intergenerational Foundation thinktank’s report, quoted by the Guardian, says that producing the same amount of power as the NPP would over 35 years, but with onshore wind farms, would cost GBP 31.2 billion (USD 44.4bn/EUR 39bn) less. Betting on solar PV would result in GBP 39.9 billion of savings. The calculations in the report take into account the cost to build and operate the power plants. It also takes into account Bloomberg projections for the decline in wind and solar power costs in the future. The thinktank says that Hinkley Point C would be the “most expensive building on Earth”. The NPP will get a strike price of GBP 92.5 per MWh for 35 years. Electricite de France (EPA:EDF) is to make a final investment decision on the project next month.
SeeNews 5th April 2016 read more »
Scrapping plans for new nuclear reactors at Hinkley Point in Somerset and building huge amounts of renewable power instead would save the UK tens of billions of pounds, according to an analysis that compares likely future costs.
Edie 5th April 2016 read more »
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Institution of Mechanical Engineers 5th April 2016 read more »
French state-controlled utility EDF will not delay its project to build nuclear reactors in Britain and its Chinese partner China General Nuclear (CGN) will share any risks related to it, EDF’s Chief Executive Officer told French parliament on Tuesday. Jean-Bernard Levy said the British government did not want to delay the 18 billion pound (22.4 billion euro) Hinkley Point project and that any delay would upset both CGN and the suppliers with whom it has already made contracts. EDF’s unions and some of its staff have argued that Hinkley Point is too big a financial risk and should be delayed a few years. Levy said a study he had commissioned showed these risks were manageable. He did not give a timetable for Hinkley Point. The French government has said a final decision on it is due early May. Levy denied reports about EDF assuming a higher share of financial risk in the project than its 66.5 percent stake in it. French media reported last month that EDF had agreed to shoulder part of CGN’s risk should there be cost overruns. CGN has a 33.5 percent stake in Hinkley.
Reuters 5th April 2016 read more »