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Nuclear power's broken promises means EDF deal is a delusional dream
http://www.theguardian.com/environment/damian-carrington-blog/2013/oct/21/nuclear-power-energy-edf-deal
Nuclear power's broken promises means EDF deal is a delusional dream
The cost of nuclear energy has tripled in just five years, while the cost of renewable energy is falling fast, making the UK government's deal a truly terrible one
Posted by Damian Carrington Monday 21 October 2013
<snip>
The government pledge that the private sector would build the new reactors has collapsed too: EDF is owned by the French state and can only move ahead itself with about 40% of the money stumped up by China.
<snip>
This farrago of fictions matters. EDF and the government say the deal protects the public against the near-certainty of broken promises on costs. But read the small print: "The strike price could be adjusted, upwards or downwards, in relation to operational and certain other costs." Perhaps the government could bail out of the deal if the costs soared? No: "Hinkley Point C would be protected from being curtailed without appropriate compensation." If new risks came to light increasing the cost of insurance, could we get out then? No: "Protection would be provided for any increases in nuclear insurance costs as a result of withdrawal of government cover." No wonder opponents are terrified by the lack of any independent scrutiny to date of the deal struck by the government.
The nuclear industry has captured the government as comprehensively as the big six energy companies have captured the domestic energy market. Don't forget that just 48 hours after the Fukushima catastrophe, government officials were working with the industry to play down the terrible events - before they had even unfolded.
<snip>
Nuclear power's broken promises means EDF deal is a delusional dream
The cost of nuclear energy has tripled in just five years, while the cost of renewable energy is falling fast, making the UK government's deal a truly terrible one
Posted by Damian Carrington Monday 21 October 2013
<snip>
The government pledge that the private sector would build the new reactors has collapsed too: EDF is owned by the French state and can only move ahead itself with about 40% of the money stumped up by China.
<snip>
This farrago of fictions matters. EDF and the government say the deal protects the public against the near-certainty of broken promises on costs. But read the small print: "The strike price could be adjusted, upwards or downwards, in relation to operational and certain other costs." Perhaps the government could bail out of the deal if the costs soared? No: "Hinkley Point C would be protected from being curtailed without appropriate compensation." If new risks came to light increasing the cost of insurance, could we get out then? No: "Protection would be provided for any increases in nuclear insurance costs as a result of withdrawal of government cover." No wonder opponents are terrified by the lack of any independent scrutiny to date of the deal struck by the government.
The nuclear industry has captured the government as comprehensively as the big six energy companies have captured the domestic energy market. Don't forget that just 48 hours after the Fukushima catastrophe, government officials were working with the industry to play down the terrible events - before they had even unfolded.
<snip>
What a scam.