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Why the free market can't do nuclear power and our industry is slowly declining (UK) [View all]
Why the free market can't do nuclear power and our industry is slowly declining
By LORD FOULKES OF CUMNOCK
PUBLISHED: 15:58 EST, 6 May 2013
House of Lords debates don’t often sound unanimous. When it does happen it tends to mean that there is something seriously wrong for the Government.
...
The problem is that the market isn’t interested. As a business venture, nuclear power stations are unique and improbable. Building them takes up to ten years and costs around £7bn.
...
As Viscount Hanworth said: ‘Nuclear power is virtually incompatible with private enterprise.’ Only a state can contemplate an investment that might take two generations to pay dividends.
...
With no competition to drive down prices, EDF has the Government right where it wants them.
Its first step was to get the Coalition to drop its promise that there will not be subsidies for nuclear power. The next step was to begin negotiating these subsidies. By some calculations, these could run to £50bn over the course of the proposed reactor’s lifespan.
By LORD FOULKES OF CUMNOCK
PUBLISHED: 15:58 EST, 6 May 2013
House of Lords debates don’t often sound unanimous. When it does happen it tends to mean that there is something seriously wrong for the Government.
...
The problem is that the market isn’t interested. As a business venture, nuclear power stations are unique and improbable. Building them takes up to ten years and costs around £7bn.
...
As Viscount Hanworth said: ‘Nuclear power is virtually incompatible with private enterprise.’ Only a state can contemplate an investment that might take two generations to pay dividends.
...
With no competition to drive down prices, EDF has the Government right where it wants them.
Its first step was to get the Coalition to drop its promise that there will not be subsidies for nuclear power. The next step was to begin negotiating these subsidies. By some calculations, these could run to £50bn over the course of the proposed reactor’s lifespan.
Read entire article: http://www.thisismoney.co.uk/money/markets/article-2320322/LORD-FOULKES-Why-free-market-nuclear-power.html#ixzz2SctEv5GX
£50bn = $77.6bn
The writer makes the common mistake of confusing the nation's energy use with electricity use. Nuclear provides 19% of their electricity but only 6% of their energy.
4 replies
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