UK Made ‘Grave Strategic Errors’ In Hinkley Point Nuclear Subsidy Scandal

British MPs have urged the UK government to rethink the economic case for new nuclear power stations after making “grave strategic errors” in the Hinkley Point project.

In a report published on Wednesday, the Commons public accounts committee accused the government of neglecting consumer interests and failing to push for a better deal with the French and Chinese investors who are building the £20bn nuclear plant at Hinkley Point in Somerset.

The committee said consumers had been “dealt a bad hand” by the government’s agreement to lock UK households into buying expensive electricity from Hinkley for 35 years.

“Its blinkered determination to agree the Hinkley deal, regardless of changing circumstances, means that for years to come energy consumers will face costs running to many times the original estimate,” said Meg Hillier, the Labour MP who chairs the committee, which is often called parliament’s spending watchdog.

Hinkley is intended to be the first in a series of new nuclear plants in the UK, as part of efforts to replace large amount of old generating capacity due to be decommissioned in coming years.

Full story

via The Global Warming Policy Forum (GWPF)

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November 22, 2017 at 04:01AM

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